Disasters are earthquakes, floods, hurricanes, or other catastrophes caused by either nature or a person or event beyond the borrower's control resulting in devastation in terms of property damage and destruction.
When a disaster event occurs, the servicer must determine the extent and nature of any damage to a property securing a mortgage loan by attempting to contact the borrower. When a regional disaster event occurs, the servicer must determine the extent of the damage to any property securing a mortgage loan in the disaster area (regardless of whether the property is in a FEMA-Declared Disaster Area eligible for Individual Assistance) through reasonable means, including but not limited to:
obtaining information from the borrower;
performing a property inspection when necessary.
Note: The servicer is authorized, but not required, to attempt to contact the borrower or perform a property inspection if the mortgage loan is current at the time of the disaster event and remains current following the disaster event.
When a disaster event occurs, the servicer is permitted to use predictive modeling data or alternative technology, such as aerial photography, to estimate the likelihood of damage in an area or to a property impacted by a disaster event. See D2-2-10, Requirements for Performing Property Inspections for additional information on property inspections.
When inspecting impacted properties, the servicer must utilize the Property Inspection Report (Form 30) or equivalent. The servicer must exercise discretion in determining whether an interior or exterior property inspection is appropriate depending on the individual circumstances. The servicer is authorized to request reimbursement for disaster inspection costs incurred on current and delinquent mortgage loans when a property inspection is necessary. To request reimbursement, the servicer must follow the procedures in Reimbursement for Property Inspections and Property Preservation Expenses in F-1-05, Expense Reimbursement.
For more information, please see Servicing Guide D1-3-01: Evaluating the Impact of a Disaster Event and Assisting a Borrower.