I'd really be concerned about other water damage without knowing the location. 

Is this something we should be concerned about or do we just ignore and just wait until we hear back from them?  

My concern is being able to find a company or anyone to help me do this. 

What are your main concerns?"

I suspect there is something about the current deed that concerns the insurer which is probably why they're requiring the affidavit. 

Even those that were not concerned about losing their homes were concerned about how bad it would get and being very cautious in their spending.  

I don’t recall them having subordination concerns for a California property with first mortgage.Don’t delay reaching out to them, as their offerings may change, due to having been acquired recently.

Based on your description, I'm concerned this deal is as good as you think it may be.

If you are concerned about doing things perfectly legal just find a lawyer that can help you confirm it, and restructure if needed. 

@Tara MontgomeryThey may existThere are a lot of lenders that will do those things but the equity has greater valueFor example we pull credit but if the property is worth $400k and someone wants a $200k loan- I am not super concerned about the credit unless it’s like 500.