PennyMac requires post-disaster property inspections for properties located in FEMA declared Individual Assistance counties, as well as any counties PennyMac determines may be potentially impacted in future declarations. At times the delay in FEMA declarations can result in counties being declared acceptable without an inspection after an event only to then be added back after FEMA makes a declaration.
After additional assessment of Hurricane IRMA damage, additional counties have been added to Individual Assistance. Please see the below for a current as of September 14th, list of counties that require a post-disaster property inspection. Counties added in this update areitalicized.
- Brevard
- Broward
- Charlotte
- Citrus
- Clay
- Collier
- DeSoto
- Duval
- Flagler
- Glades
- Hardee
- Hendry
- Hernando
- Highlands
- Hillsborough
- Indian River
- Lake
- Lee
- Manatee
- Marion
- Martin
- Miami-Dade
- Monroe
- Nassau
- Okeechobee
- Orange
- Osceola
- Palm Beach
- Pasco
- Pinellas
- Polk
- Putnam
- Sarasota
- Seminole
- St John
- St. Lucie
- Sumter
- Volusia
As a reminder, Fannie Mae and Freddie Mac do not allow loans to close with an appraisal waiver for loans located in disaster areas. It is the Lender’s responsibility to ensure the property remains eligible for an appraisal waiver.
Additionally Correspondents are responsible for complying with all FHA requirements for properties located in Presidentially Declared Major Disaster Areas for all FHA loans. Please see the FHA handbook for complete details.
PennyMac’s complete Disaster Policy can be found in the PennyMac Seller’s Guide.
Please contact your Sales Representative with any questions.