1.
This term refers to the check that is issued by an insurance company for damages suffered to a property.
2.
_____________ adjusters represent the borrower, unlike a regular insurance adjuster
3.
a detailed assessment of everything the adjuster finds during their investigation to support the insurance company’s liability regarding paying out the claim.
4.
The actual cost to replace a structure at its pre-loss condition
5.
The value of a property that is lost over time due to factors such as age and wear and tear.
6.
The value of the damaged or destroyed item(s) at the time of the loss.
7.
The amount the insured is responsible for in case of a loss
8.
The total issued by the insurance company after the deductible & depreciation have been removed from the Replacement Cost Value
9.
We need the ____ _____ _____ and ask that the borrower endorse it prior to mailing it.
10.
In this process, we can endorse the claim check and send it back to the borrower so they can cash it
11.
In this process, we deposit the funds in the restrictedescrow and send the funds back in disbursements.
12.
An estimate from the contractor signed by the borrower listing all repair to be done.
13.
This is a letter stating the homeowner would like to do the repairs themselves.
14.
A list of materials needed to complete the repairs
15.
A tax document that is needed to make the contractor a payee on the check.
16.
We need the W-9 for loans that are in _______.
17.
A document the borrower fills out that states they intend to use the claim funds to repair the home
18.
We need the borrower's affidavit for ______ loans.
19.
An examination of the condition and safety of the home.
20.
A document stating that the contractor agrees they have been paid, and based on that payment, they waive their right to put a lien on the house for what they have been paid so far. If paid in full, they waive their right to place a lien com
21.
Documents that show what has been paid for by a borrower out of-pocket.
22.
_____ is protection from loss, harm, theft or damages
23.
a binding agreement between a borrower and a lender providing terms of repayment for a new debt that is secured by real estate.
24.
A ______ ( also known as a homeowner) is the person who took out the loan with the lender.
25.
The _____ (also known as the mortgage company) is responsible for monitoring and keeping track of the loan.
26.
An account used to pay insurance and taxes.
27.
A Dwelling May pay to repair/rebuild a home.
28.
A borrower is also known as a _______
29.
Lender placed insurance disadvanatges are higher costs and _____ ___ ______.
30.
The _____ established in 2010 as a government watch dog organization monitoring financial institutions and their treatment of the American people
31.
You can search IIM using the * symbol, called the _______.
32.
Where we put notes in the module.
33.
After you have opened the claim in the Module, you navigate to ______ ________ to verify the account.
34.
This tab shows all the events on the claim and is only for processors.
35.
Before you can request a Procedure Packet, you must check ______ _______ to confirm the investor/loan type.
36.
The tab you go to to open a new claim
37.
When a claim is closed we must _____ to notate the call.
38.
To properly open a new claim, once we choose the client and put in the loan number, we must hit the _________ icon.
39.
This is another place we can look for authorizations on the claim detail page.
40.
We typically search for claims using the ____.
41.
In claim documents S stands for _____.
42.
In claim documents P stands for _____.
43.
In claim documents U stands for _____.
44.
We find documents in the module here.
45.
This tab is a history of all checks that have been associated with the claim.
46.
If the caller does not have a loan #, what system can you use to find it?
47.
If you are speaking with a borrower, you must confirm the contact information under ______ ________ ________.
48.
The section on the transactions page where we received funds is the ______ transactions.
49.
The section on the transactions page where we released funds is the ______ transactions.
50.
The screen you see when you first sign into the module
51.
Stamp and go checks will always be on ____ until they are mailed out.
52.
The tab in the module that shows the draws that have been disbursed.
53.
This tab in the module shows the checks that have been endorsed and released.
54.
Where do you put the check amount in the Claim Detail box?
55.
To add the inspection to the Module, you go to the __________ ___ on the sidebar.
56.
We send the procedure packet on the _________ tab.
57.
The named insured on a Lender Placed Policy.
58.
The claims process for lender placed claims takes _____.
59.
Once received, documents will be uploaded in _____ business days.
60.
We need ____ pieces of verification to fully verify a party.
61.
The 2 mandatory points of verification are the borrower/co borrower name and the ________ ______.
62.
_____Authorizations last 24 hours.
63.
Information that can be provided to an authorized third party must be only _______ _________.
64.
This is another place we can look for authorizations on the claim detail page.
