![]() All products are subject to credit and property approval. Actual terms, including interest rate, are subject to change without prior notice and may vary based on eligibility criteria. **A pre-approval does not signify that all underwriting requirements have been met. Any portion of the discount amount not used toward closing costs will be waived. Advertised discount can only be applied toward payment of closing costs up to a total amount of $1,000 subject to product underwriting guidelines. The offer is nontransferable and can only be used by the intended recipient. Only available for single family primary residences and existing Caliber customers. *Closing cost offer available to customers who apply for a new purchase loan. Send all of the above documents with your endorsed Loss Draft/claim check to: Clearance/stabilization tests or reports if your cause of loss is asbestos, bio-hazard clean-up, mold, lead or sinkhole.Copy of the Adjuster's Worksheet (all pages).Please send the following with your fully endorsed Loss Draft/claim check to us at the address indicated below. To meet this requirement, we need additional documentation from you. Caliber is also required to monitor your claim if the cause of loss is asbestos, bio-hazard clean-up, mold, sinkhole, explosion, earthquake or landslide. If your total claim is greater than $40,000 or if your loan was past due, in bankruptcy or in foreclosure at the time of the natural disaster, Caliber is required to monitor the repairs process and claim payout. Monitored Claims: Additional Documentation Needed ![]() Different rules may apply, depending on your loan type.The final payment is made when the repairs are complete and after the final inspection. Upon receipt of all required documents, 25% of the claim funds up to $10k are issued.Additional documentation should be sent with the check.We will deposit in an escrow account until time to disburse the funds. Send your fully endorsed claim check to Caliber.Caliber is required to monitor the claim.How to Process Your Insurance Claim Check (Loss Draft) Please call Caliber's Loss Draft Department at 86 or fax them at 93 so that we may help guide you through the Loss Draft process. Doing so ensures that your home is returned to its pre-disaster state and that your loan remains well-secured. We then complete an inspection prior to releasing any funds to make sure the repairs are proceeding as planned. Monitoring means that Caliber will gather all documentation associated with the repair cost, scope of work and contractor performing the work. Loan program guidelines issued by the investor will dictate if Caliber monitors your Loss Draft and repairs. We will guide you through the proper procedure to have your home repaired and process the claim check. You should report your claim and forthcoming Loss Draft to us. ("Caliber") (the mortgage company) named in the mortgagee clause of your policy. From this estimate, the insurance company will issue a check payable to you (the homeowner) and Caliber Home Loans, Inc. An adjuster will be sent to inspect the damage and prepare a general estimate of the repair cost. They will help you understand your coverage and assist you in filing a claim. When you determine that your home was damaged during a natural disaster, call your insurance company.
0 Comments
Leave a Reply. |