Insurance Claims

4. An examination of the condition and safety of the home - how far along repairs are
6. Cannot be Plumbing, HVAC, or Electrical
8. The check is endorsed and released back to the borrower
10. Account that holds insurance property damage claim funds
14. Process that requires letter of intent and quote good for 30 days
17. Documents that show what has been paid for by a borrower out of pocket
20. Email to be sent if loan does not show "Estate Of"
21. Can be submitted for supplemental draw review, Required for self repair on DELQ loans

1. Court document stating the insurance company and the homeowner have come to an agreement on claim funds
2. Proposal for repairs to be completed
3. Insurance company had to provide additional funds for an increase in damage, RCV and net claim increase.
5. Document confirming that the borrower will make repairs to the property, required for the USDA endorse and release process
7. Updated adjuster's report that will reflect additional supplemental funds received
9. Document stating that the mortgage company did not sign the deposited check
11. Form provided by the IRS to verify the contracting company taxes
12. The check is deposited into the restricted escrow account and funds are released with confirmation of completed repairs
13. Process for a mailed check that has not been received by homeowner
15. The wear and tear of the home returned to the borrower when the value is brought up
16. Document explaining damages to property and breakdown for insurance payment
18. Date that the damage occurred on the property (non-BOA)
19. Document reflecting what the contractor is owed stating that they wont sue if paid in full