Please reference this document for all disaster declared counties, requirements, procedures, and conditions.
Hurricane Ian - Potential for Impact
Hurricane Ian landed causing wide-spread damage. While the primary target is Florida, we are seeingimpact and potential impact to parts of Georgia, South Carolina, North Carolina, Tennessee, Virginia,West Virginia. Additional areas may be included as determined by PHH.
|Date Added||State||Counties Impacted||Declaration Number||Level||FEMA (or Discretionary) Date of Occurrence*||Monitoring Expiration Date|
|09/29/22||Florida||Charlotte, Collier, DeSoto, Hardee, Hillsborough, Lee, Manatee, Pinellas, Sarasota||DR-4673||1||09/23/22||03/22/23|
|08/10/22||Missouri||St. Charles, St. Louis||DR-4665||2||07/28/22||11/25/22|
|08/08/22||Kentucky||Leslie, Magoffin, Martin, Whitley||DR-4663||2||08/11/22||12/09/22|
|08/02/22||Kentucky||Breathitt, Clay, Knott, Letcher, Perry||DR-4663||2||08/11/22||12/09/22|
|07/01/22||Montana||Carbon, Park, Stillwater||DR-4655||2||07/05/22||11/02/22|
|Adair, Cherokee, Muskogee, Okmulgee, Pottawatomie, Seminole, Tulsa||DR-4657||2||05/08/22||09/05/22|
|05/05/22||New Mexico||Colfax, Lincoln, Mora, San Miguel, Valencia||DR-4652||2||07/23/22||11/20/22|
|01/18/22||Tennessee||Cheatham, Davidson, Dickson, Gibson, Henderson, Henry, Lake, Obion, Stewart, Sumner,
|01/07/22||Kentucky||Barren, Caldwell, Christian, Fulton, Graves, Hart, Hickman, Hopkins, Logan, Lyon, Marion, Marshall, Muhlenberg, Ohio, Taylor, Warren||DR-4630||2||12/11/21||04/10/22|
|12/27/21||Arkansas||Craighead, Jackson, Mississippi, Poinsett, Woodruff||DR-4633||2||12/11/21||04/10/22|
|12/17/21||Kentucky||Christian, Hart, Hickman, Logan, Lyon, Ohio||DR-4630||2||12/10/21||04/09/22|
|12/13/21||Kentucky||Caldwell, Fulton, Graves, Hopkins, Marshall, Muhlenberg, Taylor, Warren||DR-4630||2||12/10/21||04/09/22|
Overview of Disaster Policy
The magnitude of the disaster (Level 1 or Level 2) will drive the period of time for which the disaster will be monitored. The Disaster Monitoring Period is defined as beginning on the Date of Occurrence for the disaster as issued by FEMA and ending on the Monitoring Period Expiration date, determined by the disaster level, and is documented in the table above. All loans in the pipeline or registered during the monitoring period must meet all disaster related requirements.
|Level||Description||Loans will be monitored for|
|Level 1||Spans a significant area with devastating damage such that long-term impact to businesses, homes, and overall economic conditions will be altered for an extended or undeterminable period of time||180 days|
|Leve 2||Area and /or level of damage is contained to an area in which we would not anticipate significant long-term effects||120 days|
When the property securing the loan is located in an area that FEMA has declared a Major Disaster Area eligible for individual assistance, the following requirements apply. These requirements are applicable for any loans registered, or existing loans in pipeline that have not yet funded, during the Disaster Monitoring Period. In the event of multiple or on-going adverse events, the required documentation must be obtained after the most recent event.
The inspection requirements below also apply for loans closed and not yet sold, or not yet endorsed for insurance or guaranteed.
In addition to agency requirements, the following must be met for any property located in a disaster area to confirm the property has not been adversely affected by the disaster at the time of sale:
Properties Appraised Prior to Date of Disaster
A 1004D or a Disaster Inspection Certification and color photographs are required of the exterior of the property and subject neighborhood.
The inspector must provide a certification, on the inspector’s letterhead, stating the following:
PHH will also allow for lender certifications and photos in lieu of a 1004D or Disaster Inspection Certification when the following requirements are met for conventional loans only :
Note: If the loan type is FHA, the Seller must follow FHA guidelines for reinspection of the property. The disaster inspection report must be completed by an FHA Roster Appraiser.
Properties Appraised After the Incident Period End Date of Disaster
The appraiser must note any damage and its effect on marketability and value. The appraiser must make any applicable repair requirements.
If you have any questions, please contact your your Correspondent Specialist, Sales Executive, or contact us via the support line at 800-929-4744.
Thank you for your continued business.