Disaster Area Update
Alaska Severe Storm, Straight-Line Winds, Flooding, and Landslides
Dear Valued Partner,
In response to Alaska Severe Storm, Straight-Line Winds, Flooding and Landslides, Sun West Disaster Area Policy, as outlined in the Sun West Seller Guide, is in effect on subject properties that are located in affected areas.
Our partners can access Sun West Seller Guide under HELP section in SunSoft.
Designated AK Disaster Areas: Alaska Gateway Regional Educational Attendance Area, Chugach Regional Educational Attendance Area, Denali Borough, Kenai Peninsula Borough and Matanuska-Susitna Borough.
Designated areas are based on information available from FEMA, State, or other resources.
SWMC Disaster Area Policy
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.
Please refer to Sun West Forward Mortgage Seller Guide (Section 404.07) and Sun West Reverse Mortgage Seller Guide (Section 4.23) 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 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 Account Executive at (855) AT-SUNWEST or (855) 287-8693.
Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone : (800) 453-7884