What to Do If You Have Property Damage and/or Received Insurance Checks

Call Us to Begin the Process:  If you have damage to your property, and your mortgage is with Westerra, please contact our Loss Department so they can assist you with obtaining the proper documents to process your insurance check and manage your claim:

• Call our Loss Department at 1-877-592-0192.  They will let you know what documents are required and assign a Dedicated Point of Contact (DPOC) to assist you.  Loss Department business hours are 8 am to 4 pm Mountain Time Monday through Friday.
• Or you may email us at LOSSDRAFT@YourMortgageOnline.com to initiate the process.

Send Us Your Documents:  When you contact us, we will outline the documents that are required. Please write your 10 digit Loan Number and the name of your Dedicated Point of Contact (DPOC) on the required documents and send them to us: 

• Mail your documents and/or checks.  If you already have insurance checks, they must be correctly endorsed by you and any co-borrowers that the check is made payable to—mail all documents and the fully endorsed check to the address below.  When we receive it, we will then also endorse the check.
        Attention: Loss Draft Department MS1180
        1 Corporate Drive, Suite 360
        Lake Zurich, IL 60047-8945
• Email or fax your documents. If you are not sending a check, you may email your documents to LOSSDRAFT@YourMortgageOnline.com or fax them to 1-847-574-7617.

IMPORTANT INFORMATION - REQUIREMENTS FOR YOUR LOSS CLAIM
Requirement to have a Licensed Contractor:  A licensed contractor will be required if the Total Loss Proceeds (TLP) is greater than or equal to $40,000.  A licensed contractor is required for delinquent borrowers with a TLP of $2,500 or greater.  You are responsible for knowing your state’s contractor licensing requirements.  We reserve the right to require the use of a contractor for repairs.

If the TLP exceeds your Outstanding Loan Balance:  If the TLP exceeds the current pay off of your loan, you have the option to pay off your loan using the insurance proceeds check.  You would need to submit a written request to pay off your loan, along with the endorsed check to us at the mailing address provided above.  If you choose not to pay off your loan and the insurance proceeds exceed the unpaid principal balance, the TLP will be used to determine the disbursement method for the repairs.

Communication with a Third Party: We must receive your written authorization if you wish for us to work with a third party during the claim process. Please include in the authorization the name(s) and contact information of the Third Party or Parties you are authorizing.

Once you have made the initial notification of damage, you will receive a letter within 7 business days with detailed information on how the insurance proceeds will be disbursed.

If you have questions, please call 1-877-592-0192.