Nationstar Mortgage Loss PDF Details

Nationstar Mortgage Loss Form is now available for download. The form is used to report a loss on a mortgage loan or security. This form can be used to report losses resulting from foreclosure, loan modification, delinquency, or any other reason. Please follow the instructions carefully when completing the form. If you have any questions, please contact our office. Thank you for your cooperation. (Add any other pertinent information here.

We have compiled some general facts about the nationstar mortgage loss. There, you'll get the information regarding the document you intend to fill in, like the estimated time to fill it out as well as other particulars.

QuestionAnswer
Form NameNationstar Mortgage Loss
Form Length8 pages
Fillable?No
Fillable fields0
Avg. time to fill out2 min
Other namesclaim package, loss draft claim, nationstar mortgage loss draft dept, mortgage loss form

Form Preview Example

Dear Customer:

Nationstar Mortgage LLC has been advised that you have recently experienced a loss to your property. To ensure that we are able to provide prompt release of insurance claim funds, the following documents will need to be filled out and returned to the Loss Drafts Department:

INTENT TO REPAIR DOCUMENT – This is a document that tells us you plan to repair the property using the insurance claim funds.

INSURANCE COMPANY ADJUSTER’S WORKSHEET – This is sometimes referred to as the adjuster’s estimate, adjuster’s summary, or scope of repairs. It provides a breakdown of the damage to the property and the insurance company’s estimate of the amount of money it will take to complete the repairs. NOTE: All pages are required.

SIGNED CONTRACT/PROPOSAL – This is the contract between you and the contractor completing the repairs. It must list the property address, a description of the repairs being completed, and the dollar amount that you have agreed upon. Both you and your contractor must sign this document. NOTE: If the amount of the contract is more than the loss draft claim funds, your contractor must complete the Contractor Acknowledgement of Payment Procedures form. Prior to release of the final disbursement, the contractor must submit an invoice showing a paid-in-full OR a balance that is less than or equal to the remaining claim funds.

CONDITIONAL WAIVER OF LIEN – This is a form to be completed by the contractor completing the repairs, and is the contractor's promise to not place a lien on the property for any other reason than non-payment. NOTE: All blanks must be completed, and the amount listed on the Conditional Waiver of Lien must match the amount on the signed contract, as that is the base amount that the contractor is promised to receive.

CONTRACTOR’S LICENSE OR BOND– This is a document supplied by the licensing board for your state. We need a copy of this document to process your claim; however, if there is no licensing or certification requirement to complete the repairs in your state, a written statement from the jurisdiction where your property is located may be submitted instead.

INSURANCE DRAFT – The check issued from the insurance company for repairs to your property. All parties listed as a payee must endorse the check.

BUILDING PERMITS – This is a written authorization produced by the local government to construct a building or make improvements. All claims over $25,000 require either a copy of the permit OR a letter from the local government stating a permit is not required.

CERTIFICATE OF COMPLETION – This is a document that shows you agree that the work is complete and you are happy with the results. You must complete this form once repairs are 100% complete. Complete this form only if you cannot sign the 100% Inspection Results form.

CONTRACTOR’S W-9 – This is a tax form used to identify the contractor and is needed before any payments are made in the name of the contractor.

Upon receipt of the insurance draft, it will be deposited into an account established for repairs to the property. Once funds have been confirmed available and all documents have been received and verified as correct, an initial draw will be disbursed in the amount of one-third of the total claim proceeds. All drafts will be payable to you, the borrower, and your contractor until the contract is paid-in-full. All repairs must be completed by a licensed contractor; private repairs are not permitted. All insurance checks will be sent to your mailing address on file via regular mail unless you provide a prepaid mailer (with a label printed by an overnight carrier) that lists your contact information as both the shipper and receiver. No prepaid mailer will be used that lists the Loss Drafts Department or Nationstar Mortgage LLC as the shipper.

An inspection is required when repairs are 50% complete; when 50% completion is confirmed, one-half of the remaining claim funds will be released. Another inspection is required when repairs are 90%-100% complete with no structural work remaining; after 90%-100% completion is confirmed, all of the remaining claim funds will be released. Inspections will be charged at a cost of $35 each as an advance on your mortgage, and will appear on your monthly statement. Please contact our office to order these inspections. A representative will contact you to schedule an appointment to inspect the property.

If an attorney or public adjuster has been included as a payee on your claim check, please contact our office for an important notice.

If you have any questions, please feel free to call us toll-free at 1-866-825-9302 between 9:00 am and 6:00 pm EST. Any documents and correspondence may be faxed to us at 1-866-411-8857. Please include your loan number on any and all faxes sent to us.

Please mail all checks and correspondence to:

 

Regular Mail:

Overnight Mail:

Nationstar Mortgage LLC

Nationstar Mortgage LLC

Attn: Loss Drafts

Attn: Loss Drafts

P.O. Box 6501

1 Assurant Way

Springfield, OH 45501-6501

Springfield, OH 45505

Respectfully,

Loss Draft Department

Nationstar Mortgage LLC

Enclosed:

Intent to Repair Document

 

Conditional Waiver of Lien

 

Certificate of Completion

 

Contractor Acknowledgement of Payment Procedures

 

W-9

Certification of Intent to Repair

Nationstar Loan Number:

Property Address:

I (We) hereby certify that all _____________________________________________ claim

funds

(Name of Insurance Company issuing check)

will be used to repair the _______________________________________________________

(Cause of Loss)

damage to the above referenced property that occurred on ____________________, 20_____,

and that the repairs will be made in a workmanlike manner and that no material or labor liens will occur as a result of the labor performed or materials used.

_______________________________________________

___________________

(Primary Borrower’s Signature)

(Date)

_______________________________________________

___________________

(Co-Borrower’s Signature)

(Date)

Return to:

Regular Mail:

Overnight Mail:

 

Nationstar Mortgage LLC

Nationstar Mortgage LLC

 

Loss Draft Correspondence

Loss Draft Correspondence

 

P.O. Box 6501

One Assurant Way

 

Springfield, OH 45501-6501

Springfield, OH 45505

Fax number:

1-866-411-8857

 

CONTRACTOR’S CONDITIONAL WAIVER OF LIEN

RE: Loan Number ______________________________

Property Address:

___________________________________

 

___________________________________

Total Contract Amount:

___________________________________________

Conditional upon payment of:$___________________, the undersigned hereby agrees to release

and/or waive any and all claims for labor and/or materials used in the construction, erection, and/or alteration of the building situated on the premises known as:

Property Address: _________________________________________________

And same being owned by: __________________________________________

Signed this ________________ day of _____________________, AD 20_____ .

__________________________________________________

Contractor/Company Name

__________________________________________________

Contractor License #

By: ________________________________________________

Title: _______________________________________________

Return to:

Nationstar Mortgage LLC

PO Box 6501

Springfield, Ohio 45501-6501

Fax: 1-866-411-8857

CERTIFICATION OF COMPLETION OF REPAIRS

RE: Loan Number: ________________________________

Property Address: _________________________________

(street address)

_________________________________

(City, State and Zip Code)

I (We) hereby certify that all necessary repairs resulting from ________________

(type of damage)

damage sustained on _____________________to the property located at

(date of loss)

________________________________________________________________

(property address)

have been completed in a workmanlike manner and that no materials, labor or like liens have been or will be incurred as a result of labor performed or materials used. Subject property has been restored to the condition existing prior to the date of damage.

________________________________________________

__________

(borrower)

(date)

________________________________________________

__________

(borrower)

(date)

Return To:

 

 

Nationstar Mortgage

 

Nationstar Mortgage

Atten: Loss Draft Correspondence

 

Attn: Loss Draft Correspondence

PO Box 6501

OR

One Assurant Way

Springfield, OH 45501-6501

 

Springfield, OH 45505

FAX: 1-866-411-8857

 

 

CONTRACTOR ACKNOWLEDGEMENT OF PAYMENT PROCEDURES

RE: Mortgage Loan Number: ________________________________

Property Address: _____________________________________

I have a signed contract with ____________________________ for repairs of the building

situated on the premises at ,

_____________________________________________________________________________ .

I understand and agree to the following:

1.The claim funds received from the insurance company are less than the amount agreed to by the homeowner on our signed contract.

2.The homeowner is responsible for any expenses incurred in excess of the insurance proceeds.

3.Nationstar releases draws based on inspection results and will not release the final draw until repairs have been completed.

Signed this ________________ day of __________________________, AD 20_____

 

 

Contractor/Company Name

By:

 

 

Title:

 

Return to:

 

 

 

Nationstar Mortgage LLC

 

 

Nationstar Mortgage LLC

Attn: Insurance Loss Department

OR

 

Attn: Insurance Loss Department

PO Box 6501

 

 

One Assurant Way

Springfield OH 45501-6501

 

 

Springfield, OH 45505

Fax: 1-866-411-8857

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