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FEMA Disaster Area Update

Dear Licensed Partner,

Counties in the States of Arkansas and Mississippi have been affected by Severe Storms, Tornadoes, Straight-line Winds, and Flooding.

Incident Period Dates:

  • Arkansas: From December 26, 2015 to January 22, 2016
  • Mississippi: From December 23, 2015 to December 28, 2015

Designated AR Disaster Areas: Benton County, Carroll County, Crawford County, Faulkner County, Jackson County, Jefferson County, Lee County, Little River County, Perry County, Sebastian County and Sevier County.

Designated MS Disaster Areas: Benton County, Coahoma County, Marshall County, Monroe County, Panola County, Prentiss County, Quitman County and Tippah County.

To view a complete list of FEMA disaster alerts in XLS format, click here: Annexure-I.

To view FEMA's recent update on AR, click here: FEMA.

To view FEMA's recent update on MS, click here: FEMA.

SWMC Disaster Area Policy

For loans submitted with an appraisal dated on or before the incident period end date or for those submitted without an appraisal, Sun West will require an interior and exterior inspection prior-to-funding or purchase of any loans with subject properties that are determined to be at risk. The inspection must verify that the property is sound, habitable and in the same condition as when it was appraised.

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.

Notes:

  • 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.

If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.

Sincerely,

Sun West Mortgage Company, Inc.
18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884
SW-1: Our No Overlays Program

 

Equal Housing Opportunity 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.




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