FEMA Disaster Area Update
Counties in Arkansas have been declared by FEMA as Major Disaster Areas.
Incident Period Date: May 21, 2019 and continuing
Major Disaster Declaration declared on June 08, 2019
Designated Disaster Areas: Conway, Crawford, Faulkner, Jefferson, Perry, Pulaski, Sebastian, Yell.
To view FEMA's recent update, click here: FEMA.
To view a complete list of FEMA disaster alerts in XLS format, click here: Annexure-I.
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 SWMC 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) AT-SUNWEST or (855) 287-8693.
Sun West Mortgage Company, Inc.
6131 Orangethorpe Avenue, Suite 500
Buena Park, CA 90620
Phone: (800) 453-7884
This information is provided to licensed mortgage professionals only and not for distribution to consumers. Please visit https://www.swmc.com/disclaimer.php or refer to www.nmlsconsumeraccess.org to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. All Rights Reserved. We are not accepting applications from Georgia or Massachusetts residents. We are purchasing mortgages secured by Massachusetts properties but not Georgia. Sun West Mortgage Company, Inc. (NMLS ID 3277) holds a Financing Law License (#6030119) [Loans made or arranged pursuant to a California Financing Law license], licensed by the California Department of Business Oversight, Phone: (866) ASK-CORP and has a DRE Real Estate Corporation License Endorsement (#00793885), licensed by the California Department of Real Estate, Phone: (877) 373-4542.
