Lender-Placed Claims and Loss Drafts

LPI Claims

When a homeowner experiences a loss to their property, a claim is filed with the insurance carrier to repair or replace the damaged property.

Claims handling is a core function of the insurance policy contract. Our commitment to satisfy our obligation under the LPI policy and provide outstanding service during the time of loss is one of the top roles we perform. Our actions are a direct reflection on the servicer and their relationship with the homeowner. Features of our program include:

  • Multiple self-service methods and 24/7 access for the homeowner to file a claim and check on the status of an existing claim.
  • Claims workflow process modeled on Six Sigma principles
  • Dedicated client teams, with a claims manager who serves as the servicer’s single point of contact for all claim related questions
  • Specialized teams for homeowner-occupied vs. vacant/servicers’ real-estate owned (REO) claims to maximize results
  • Use of field adjusters for maximum flexibility and efficiency in responding to the claim and meeting with the homeowner to assess damages
  • Catastrophe process for efficient handling of a high volume of claims

Loss Drafts

When a homeowner experiences a loss and payment is approved, the check for damages is made payable to the homeowner and their mortgage company. This payment is referred to as a loss draft. We manage the servicer’s obligation to ensure these Loss Drafts proceeds, either from traditional insurance or LPI, are appropriately released to the homeowner and investor requirements are satisfied.

  • Typically there are two types of loss draft classifications:
    • Endorse & Release – Funds immediately released based on defined thresholds
    • Monitored – Funds are released as repairs are confirmed and completed
  • Loss draft tracking system is part of our single platform, TrackGuard™
  • Directly interfaces with all major loan servicing platforms
  • Electronic Files/Monitoring – Electronic files are created upon loss notification
  • All documents are imaged and accessible by the servicer
  • PropertyClaimsCenter.com – A robust web portal enabling customers to download and upload documents, check on claim statuses and communicate with us on their claim
  • Proactive Call Outs – We use our expertise to obtain required information through proactive calls to insurance carriers, inspectors, contractors or other parties
    • Customer contact is made as updated information is received to ensure the customers stays informed
  • True Customer Care – Listening with empathy, providing information and ensuring the customer knows we are here to help
  • Same-day processing and mailing of endorse and release checks and same-day depositing of monitored insurance claim checks
  • Customized letter creation in response to specific customer inquiries to support regulatory requirements

Our goal and efforts are to ensure that all lender-placed claims and loss drafts are handled efficiently and with outstanding service throughout the process.

Contact Us

To learn more about how National General Lender Services can protect your portfolio, contact us at 1-800-225-8178.


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