How are Property Claims handled?
Why is my insurance claim check payable to me and to Nationstar Mortgage LLC?
If your home suffered casualty damage and your insurance company has issued an Insurance Claim check, the check may be payable jointly to the policy holder(s) and the lien holder(s). When a check is presented to NATIONSTAR, as the lien holder, for endorsement, we may either:
- Deposit the check and disburse the proceeds in increments as the repairs are completed, or
- Endorse the check and return it to the policy holder(s)
Which action is taken depends on several factors including, but not limited to, the amount of the check, the payment status of the loan and the type of repairs to be made.
Should you receive an Insurance Claim Check, please contact our Loss Draft Department to speak with one of our Claims Representatives Monday through Friday at (866) 825-9302.
View Loss Draft Claim Package
Will Nationstar Mortgage LLC endorse my check?
The terms of your Deed of Trust state that insurance payments are security for
your loan and are paid to both you and Nationstar Mortgage LLC. Your required
insurance policy or policies must carry a current Mortgagee Clause. This clause
directs your insurance company to issue claim checks payable to you and
NATIONSTAR in the event that damage to your property results in the payment of a
Required Mortgaged Clause:
P.O. Box 7729
Springfield, OH 45501
Why is an inspection needed?
If you have suffered damages to your home that results in the payment of a claim you will need to contact a Claims Representative in the loss draft department at (866) 825-9302 as soon as possible during normal business hours. Your claim check(s) should be endorsed by all parties and immediately sent to our insurance center for processing with supporting documentation, if requested.
Please remember to reference your loan on the check(s) to expedite processing. Please use the following addresses for insurance claim check handling. Failure to include your loan number or the use of other addresses for payments or correspondences will delay the processing of your request:
Nationstar Mortgage LLC
Loss Draft Department
P.O. Box 6501
Springfield, OH 45501-6501
Once received, your claim will be reviewed. If the loss has resulted in a claim that does not require repairs to be monitored your claim check will be endorsed by NATIONSTAR Mortgage and returned to you. If the loss requires that repairs be monitored, a Monitored Claim will be opened to facilitate the repairs to the security property. Your claim check will be deposited to a restricted escrow account for distribution to you and your contractor(s).
Do I need to contact you after the inspection is held?
As the lien holder, we have an interest in the property, because it serves as collateral for your loan. We must monitor the repair process to ensure that the value and condition of the collateral is maintained. As repairs are completed, please contact a Loss Draft Department Claims Representative at (866) 825-9302, so that an inspection can be scheduled.
Why do I need to provide a W9 form and where can I get one?
No, a subsequent disbursement of proceeds will be issued, based on the percentage of completed repairs, within 5 business days after we receive the inspection results.
My repairs are almost completed, how do I get the final disbursement released?
A W-9 Form is a form used to request taxpayer identification numbers. This form must be submitted to us anytime disbursements are requested to a construction company and/or contractor. Please contact your contractor(s) to obtain a completed form. If you have any questions, please call our Loss Draft Department at (866) 825-9302.
I want to make the necessary repairs myself. How will I be reimbursed?
You should contact us to request a final inspection, when you are near completion of the repairs. Inspections can be requested by calling our Loss Draft Claims Department at (866) 825-9302. Additional documentation verifying completion of work may be required.
I want to use my insurance claim check funds to pay off my loan, how do I do that?
To make your own repairs, you must be a licensed contractor. You may be subject to scheduled inspections and may be required to submit receipts for materials and other expenses. Contact our Loss Draft Department for information at (866) 825-9302.
My claim check is not enough to pay off my loan or to repair the property. What are my options?
You should contact our Insurance Customer Service Department at (888) 480-2432 to request that your insurance loss funds be applied to pay off your loan. We will require a signed affidavit, and your loan will be reviewed to obtain the amount required to pay off the loan and a course of action will be determined.
We will work with you to develop a solution tailored to your individual circumstances. Please contact an Insurance Department Representative at (888) 480-2432.