Insurance Claim Check Endorsement
So, you have received an insurance claim check listing your mortgage company as an additional payee, and you are wondering how you proceed. Keep the following important steps in mind as you move forward:
You will want to initially make contact with your mortgage company and see how they would like to proceed with the endorsement.
It is a good idea to ask your lender if branch endorsement is an option; this will normally be the easiest course of action for you.
It would also be helpful if you inform 123 Exteriors of the pending endorsement.
You may reference the resources contained on this site if your lender is listed here so as to easily access basic contact information for your lender’s insurance claim dept.
It is a good idea to take a look at our list of important things to remember before getting started.
Another tool you may find helpful is our Mortgage Endorsement Glossary if you have any questions about terminology used on this site or by your lender.
The mortgage endorsement process as we normally see it:
Remember, the requirements of your lender will vary based on criteria such as the type of loan, the amount of your insurance claim, the type of work being done, and/or how current your loan payments are, so a call to your lender will need to be made.
Either your check will be sent to a central processing center that handles these claims, or you may have the option of branch endorsement.
If branch endorsement is not an option, various documentation will likely be requested by your lender.
Your lender will either send back the endorsed check or a portion of the funds from that check in order to get the project started, depending on their policy for your claim.
Your work will be completed, and your lender may require a brief property inspection
This will be done by an inspector of their choosing if applicable
Your insurance carrier will release final claim payment. If your lender is listed as payee, you will want to call with the check amount so they can advise on what steps to take next.
Either the check will be sent in to the lender’s processing center or it can be taken for branch endorsement if that is an option.
If branch endorsement is not applicable, your check or funds will be sent back from the lender’s processing center once all required documentation is on file.
We're Here to Help
Remember, if you need assistance or advice, the 123 Exteriors Customer Accounts and Claims Dept. is here to help in any way we can. Send us an email at firstname.lastname@example.org or give us a call at (314) 961-6162.