Temporary Selling Requirements Related to CA Wildfires; Updates Related to Hurricane Irma
December 6, 2018
As communities affected by the recent California wildfires continue to rebuild, we’re committed to helping you and your borrowers during this difficult time.
Today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-25 provides temporary selling requirements and flexibilities for certain mortgages secured by properties, or for borrowers with places of employment (as applicable), in certain zip codes in Butte County which were heavily impacted by the fires.
The temporary requirements and flexibilities cover the following:
- Age of documentation requirements
- Special collateral requirements and guidance
- Seller reimbursement for property inspections
Updates Related to Hurricane Irma
Review the Bulletin for the following updates related to mortgages secured by properties in eligible disaster areas associated with Hurricane Irma:
- Reinstatement of ACE appraisal waiver offers and collateral representation and warranty relief for a large majority of the impacted properties
- Retirement of temporary age of documentation requirements as of January 7, 2019
Please read Guide Bulletin 2018-25 for details on these temporary requirements, updates and their associated effective dates.