Homebridge is updating our requirements for properties located in one of the New Jersey, New York, or Pennsylvania counties identified by FEMA in the Disaster Declarations issued due to Hurricane Ida.
This updated policy applies to all transactions, regardless of program, including FHA Streamlines, VA IRRRLs, and Fannie Mae and Freddie Mac transactions that received an appraisal waiver/ACE offer.
This policy only applies to properties located in the counties identified by FEMA in the Disaster Declarations issued for NJ, NY, or PA due to Hurricane Ida
Property Located in a FEMA Disaster Declared County NJ, NY, or PA
Homebridge will require a Borrower Affidavit of No Damage to be signed by the borrowers with the closing documents on all transactions, regardless of whether or not the file contains an appraisal.
Brokered Transactions
Effective immediately, Homebridge will include a Borrower Affidavit of No Damage with the closing documents when a property is located in a county identified by FEMA in NJ, NY, or PA
NDC Transactions
NDCs will be required to provide the Borrower Affidavit of No Damage with their closing documents. All loans purchased on or after September 17, 2021 will require the signed Borrower Affidavit of No Damage prior to purchase
Fannie Mae or Freddie Mac Transactions with a DU Appraisal Waiver/ LPA ACE Offer
As a result of this updated policy, the signed Borrower Certification will no longer be required. All appraisal waiver/ACE offer requirements must continue to be met.
A sample Borrower Affidavit of No Damage has been posted on the Forms page of the Homebridge website under General Forms
The FEMA Disaster Declarations Quick Reference Guide, located under Miscellaneous on the Working With Us page of the Homebridge website, provides the counties identified by FEMA for these Disaster Declarations and has been updated to reflect this new policy.
If you have any questions, please contact your Account Executive
