FEMA Disaster Area Update
Dear Licensed Partner,
New counties in Michigan have been declared by FEMA as Major Disaster Areas.
Incident Period Date: August 11, 2014 to August 13, 2014
Designated MI Disaster Areas: Macomb County, Oakland County and Wayne County
To view a complete list of FEMA disaster alerts in XLS format, click here: Annexure-I.
To view FEMA's recent update on Michigan, click here: FEMA.
Sun West Disaster Area Policy
Our partners can access Sun West Seller Guide under HELP section in sunsoft. Please refer to Sun West Forward Mortgage Seller Guide (Section 404.07) and Sun West Reverse Mortgage Seller Guide (Section 3.23) for more details.
• Only licensed and state certified appraisers may be used to complete the inspections.
• If there is any damage to the property, the repairs must be completed prior to Sun West closing/purchasing the loan.
• For VA IRRRLs, VA does not permit the Veteran to be charged for the Appraisal Fee.
A list of recent disasters declared by FEMA where the above guidelines apply are provided in Annexure-I.
For any queries, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.
This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.