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
