For counties impacted by Hurricane Helene and deemed a disaster area please, refer to Section 4.27.17 of CBC Mortgage Agency’s Seller Guide. We will continue to monitor for any updates and provide guidance as necessary.
4.27.17 Disaster Certificates
All FHA: In counties that have been deemed disaster areas by FEMA (Federal Emergency Management Agency), CBCMA will require a 1004D disaster certificate, with exterior photos required. Per FHA the certificate must be dated after the incident period. Appraisals performed prior to the incident end date or within up to 14-days from the incident start date, whichever is earlier: a disaster certification is required.
It is solely the Seller’s responsibility to be aware of and act upon any mortgage loans that were, prior to the sale to CBCMA, impacted by disasters. The Seller should contact the appropriate source (e.g., a state office, regional Federal Emergency Management Agency (FEMA) office, news agency, etc.) to determine whether properties located in its origination regions are included in a disaster area.
CBCMA’s Disaster Policy applies to any of the following:
- FEMA-declared disaster areas eligible for Individual Assistance
- Areas identified by CBCMA
- Properties that the Seller has reason to believe sustained damage in a disaster
CBCMA does not have the responsibility to provide notification to the seller of disaster areas and will not purchase a loan if it is damaged. If, at any time after loan purchase, CBCMA or a subsequent investor determines that the subject property was damaged and not in fully marketable condition at time of sale, the loan may be subject to repurchase.
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