February 13, 2017

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of Louisiana due to Severe Storms, Tornadoes, and Straight-line Winds.

Declaration Date: February 11, 2017

Incident Period: February 7, 2017

The following parishes were identified by FEMA:

  • Livingston Parish and Orleans Parish.

If the subject property is located in one of the above counties and the appraisal was completed on or before February 7, 2017 REMN Wholesale will require one of the following:

  • An Appraisal Update and/or Completion Report (Fannie Mae Form 1004D), or
  • A Desktop Underwriter Property Inspection Report (Fannie Mae Form 2075).

REMN Wholesale prefers the original appraiser provide the 1004D or 2075 however REMN Wholesale will accept the report from any appraiser as long as the original Appraisal Management Company assigns the appraiser (i.e. if the original appraisal order was placed through AMC Settlement Services, the 1004D or 2075 must also be ordered through AMC Settlement Services).

A 2075 is also required for the three (3) months following the end date of the incident period on the following:

  • FNMA transaction with a property inspection waiver (PIW).
  • FHA Streamline without an appraisal.
  • VA IRRRL.

In the event significant damage is indicated on the 1004D or 2075 additional conditions may apply.

Please contact your Account Executive with any questions.