Disaster Policy Update: Tropical Storm Imelda

September 24, 2019

Tropical Storm Imelda has brought devastating rains and flooding to Southeast Texas. Although FEMA has not declared specific counties for individual assistance as of yet, the Texas Governor has declared a State of Emergency for Tropical Storm Imelda due to ongoing rain and flooding and potential for additional damage. The counties that are included in the disaster declaration by the Texas Governor are:

Brazoria, Chambers, Galveston, Hardin, Harris, Jasper, Jefferson, Liberty, Matagorda, Montgomery, Newton, Orange and San Jacinto

It is the correspondent’s responsibility to follow Gateway’s Disaster Policy outlined in Chapter 2 of our Client Guide (pages 4 & 5) prior to any loan being sold to Gateway. Correspondents should order a post-disaster inspection report if there is reason to believe the property has sustained any damages in a disaster. The subject property should be in marketable condition and confirmation there were no repairs or other detrimental conditions to the subject property at the time the loan is sold to Gateway.

Gateway will continue to monitor any residential property damage caused by Tropical Storm Imelda and all counties not yet declared as disasters by FEMA. As stated in Gateway’s Disaster Policy, it may be required for a post-disaster inspection to be obtained for properties located in areas that sustained damage in advance of a FEMA Declared Disaster.

Please direct any questions to your Regional Sales Manager

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