Guidelines for Processing Your Insurance Claim Funds to Repair and Restore Your Property

I have damages to my property, what should I do first?

Please contact your insurance carrier to file a claim.

I have an insurance claim check for damages to my home from fire, flood, hail, etc. How do I get the claim check endorsed?

Please contact the HomeBridge Loss Draft Processing Department at (888) 350-4601 to determine if the claim check can be endorsed and returned to you or must be sent to HomeBridge for monitoring of the repairs. Once this has been determined, the claim check must be mailed to the below address:

HomeBridge Financial Services, Inc.
Attn: Loss Drafts Department
5225 Crooks Road
Troy, MI 48098-2823
Loss Draft Customer Support: (888) 350-4601

Fax: (248) 878-2415

Note: HomeBridge cannot accept photo copies or faxed copies of claim checks for endorsement.

How does HomeBridge determine if the claim check will be released to me or if HomeBridge will hold the funds and monitor the repairs?

Typically, insurance funds for repairs $10,000.00 or below will be released to the borrower and insurance funds for greater than $10,000.00 will be maintained by HomeBridge.  These funds will be released to contractors and/or the borrower as work is performed.  Each release of funds will be referred to as a ‘draw’ of the funds.

Please make note of the following document requirements for claim processing.

Claims of $10,000.00 Replacement Cost Value and Below (Endorse & Release):

  • Claim check from the insurance company
  • Adjuster’s report from the insurance company
  • Signed Mortgagor’s Affidavit of Repair Certification (download here)

Claims Above $10,000.00 Replacement Cost Value (Monitored Claim):

  • Endorsed claim check from insurance company
  • Mortgagor’s affidavit fully executed (download here)
  • Contractor’s documentation signed by the borrower (needed for all contractors) for any loss greater than $20,000.00
  • Contractor’s estimate / proposal
  • Contractor’s W-9
  • Contractor’s license and / or insurance
    • In states where a contractor’s license is not required (i.e. Texas), evidence of insurance will be accepted. Some states do not require insurance either, so in those instances, permits are acceptable.
  • Adjuster’s report from the insurance company
  • Paid receipts (before second draw) if the borrower is doing own work

Additional requirements if borrower is performing their own repairs:

  • Borrower acting as contractor: Written notice signed by borrower stating that borrower is doing their own work
  • Borrower must be appropriately licensed if the work includes plumbing, electrical or HVAC. Roofing may be done by the borrower. However, local code requirements would supersede this allowance.

Monitored Claim Funds Disbursement Schedule:

  • Loss Draft claims in the amount of $10,001.00 or greater are classified as a Monitored Claim and will be monitored by HomeBridge until 100% of the repairs are completed. Upon notification of a Monitored Claim, HomeBridge will mail the borrower a claim packet detailing the claim process and outlining additional documentation which may be required.
  • Funds are typically released in one-third increments based on periodic inspections of the property to verify the progress of the repair work. Inspection results will determine draw eligibility.
  • As repairs are completed, documentation to support the completed repairs may be required to release claim funds.

DISCLAIMER: If your property is located in a FEMA declared disaster area approved for individual financial assistance, you may be able to receive up to $20,000.00 released in a single disbursement from the claim check you receive. Monitored claims may be eligible for a larger amount to be released with the initial and subsequent draws.        

If you have any additional questions, please contact HomeBridge’s Loss Draft Processing department at (888) 350-4601.