17-63: Disaster Policy Reminder for Southern California Wildfires

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December 20, 2017

Recently, the Governor ofCaliforniahas declared a State of Emergency in Ventura and Santa Barbara Counties due to wildfires.  Per state officials, full containment of the Thomas Fire burning in these counties is expected in early January.

 

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 property sustained damage in a disaster.

 

PennyMac is continuing to monitor the residential property damage caused by the wildfires. In accordance with its Disaster Policy, PennyMac may require post-disaster property inspections on loans located in areas that sustained damage in advance of a FEMA declaration for Individual Assistance.

 

Loans located in the following zip codes in Ventura, Santa Barbara and Los Angeles counties may require a post disaster property inspection or fundings may have been paused due to their proximity to the wildfires:

 

• 93015 • 93130 • 93003
• 93016 • 93140 • 93004
• 93101 • 93150 • 93005
• 93102 • 93160 • 93006
• 93103 • 93190 • 93007
• 93105 • 93013 • 93009
• 93106 • 93014 • 91040
• 93107 • 93022 • 91041
• 93108 • 93023 • 91342
• 93109 • 93024 • 91392
• 93110 • 93060 • 91042
• 93111 • 93061 • 91043
• 93120 • 93001  
• 93121 • 93002  

 

 Zip codes may be added or removed without notice. 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.