18-42: Update to Disaster Policy Implementation: Hurricane Florence

09/28/2018

PennyMac has updated the post-disaster inspection requirements for properties located in the below counties. At this time, all disaster impacted counties are eligible for purchase with a post-disaster inspection. Properties located in counties not currently in the table but included previously, are eligible for purchase without a post-disaster inspection. Refer to loan level conditions for specific post-disaster inspection on or after dates.
 
 
Please note that due to ongoing flooding, additional counties may be added by PennyMac, or declared as eligible for FEMA Individual Assistance.
 
As a reminder, it is the Correspondent’s responsibility to be aware of and act upon any loan impacted by disasters prior to the sale of the loan to PennyMac. Correspondents should order a post-disaster inspection if the Correspondent has reason to believe the subject sustained damage in a disaster.
 
For complete details, please refer to the PennyMac Disaster Policy located in the PennyMac Seller’s Guide on www.gopennymac.com. Please contact your Sales Representative with any questions.