News & Announcements

The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration for the state of California due to wildfires.

On September 13, 2020, FEMA granted individual assistance to 1 additional county (Butte).

Impacted Counties FEMA Link FEMA Notice Date
Lake
Napa
San Mateo
Santa Cruz

8/22/2020

Solano
Sonoma
Yolo
Monterey

8/24/2020

Butte

9/13/2020

If the subject property is located in one of the designated counties above and appraisal was completed on or before August 14,2020, an interior and exterior disaster inspection is required to confirm that no damage has occurred to the subject property.  The property is sound, habitable and in the same condition as when it was appraised.  In the event damage is indicated on form 1004 D, 2075 or the FHA Inspection Report, the repairs must be completed prior to close.

FHA Damage Inspection Requirements: Per Handbook 4000.1 II.A.7.c states, “All Properties with Pending Mortgages or endorsements in Presidentially Declared Major Disaster Areas (PDMDA) must have a damage inspection report that identifies and quantifies any dwelling damage.  The damage inspection report must be completed by an FHA Roster Appraiser even if the inspection shows no damage to the Property, and the report must be dated after the Incident Period (as defined by FEMA).”

Note: If the original Appraiser is not available, another FHA roster appraiser can be used.

VA IRRRLs, VA does not permit the Veteran to be charged for the appraisal fee.

The Streamline, PIW or ACE offer may not be exercised, and a full appraisal is required for property that is in a FENMA declared disaster.

LSM will continue to monitor the impacted areas and we may add or remove counties on the list above as necessary.

Please contact your Sales Representative if you have any questions.

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