Disaster Declaration for the State of Georgia
Disaster Declaration for the State of Georgia FEMA Notice Date: September 7th, 2023 On September 7, 2023, the Federal Emergency Management Agency (FEMA) declared that
Due to current market conditions, temporary changes to our employment re-verification process are necessary to manage risk. The changes below apply to all loans underwritten.
Income
Wage Earners
Self Employed Full Doc Conventional
Self Employed – Full Doc VA
Self Employed – Full Doc FHA/USDA
Self Employed – All Products
Rental Income Support
Rental Income Support – FHA
Forbearance – Conventional Loans
Borrowers who are currently or have been in forbearance, are acceptable in certain cases:
Forbearance – FHA & USDA Loans (all financed properties)
Forbearance – VA Purchase and Rate and Term Refinances
Forbearance – VA IRRRLs
Temporary Appraisal Guidance – Conventional Loans
A Drive by Appraisal is acceptable if the loan fits within the below metrics:
Appraisal Guidance – FHA/VA/USDA Loans
FHA/USDA:
VA:
Age of Documentation – Conventional Products
Age of Documentation
Effective: These policies became effective for loans with application dates on or after April 14, 2020 and are effective until further notice.
In order to ensure that the most up-to-date information is being considered to support the borrower’s ability to repay, we are updating our age of documentation requirements for all loans (existing and new construction) as follows:
Age of Documentation – FHA/VA/USDA Products
COVID-19 Borrower Certification
Please contact your Account Representative if you have any questions.
Disaster Declaration for the State of Georgia FEMA Notice Date: September 7th, 2023 On September 7, 2023, the Federal Emergency Management Agency (FEMA) declared that
Disaster Declaration for the State of Florida The National Hurricane Center is forecasting that Hurricane Idalia will cause widespread flash flooding along the Gulf Coast
Disaster Declaration for the State of Georgia FEMA Notice Date: September 8th, 2023 On September 7, 2023, the Federal Emergency Management Agency (FEMA) declared that
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