PROPERTY LOSS CLAIM. Attached is our property loss packet for your review. To initiate our claim process we will need the following documents.

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1 PROPERTY LOSS CLAIM Attached is our property loss packet for your review. To initiate our claim process we will need the following documents. Fully endorsed insurance check Complete copy of the insurance estimate report Completed declaration of intent (page 6 of the attached packet) If it is a monitored claim, please provide the five additional documents shown below. If it is a non-monitored claim, please only provide the three documents above. The Matrix Below Identifies the Type of Claim Type of Loan Monitored Claim Net Claim Amount FHA Greater than $15,000 Monitored Claim Other Scenarios The loan is 30 or more days delinquent on the most recent contractually due payment. The loan is currently in loss mitigation. Non-FHA Greater than $20,000 The loan is dependent on force-placed insurance. Additional Monitored Claim Documents Once you have found a contractor to complete the needed repairs, we will need the following paperwork before we issue any payments. Copy of the contractor s invoice/work contract Copy of the contractor s W-9 Copy of the contractor s insurance Copy of the contractor s license, if applicable Copy of the building permit, if applicable Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

2 Monitored Claim Once we receive this paperwork we will issue a check made payable to the customer and the contractor for the lesser of 1/3 of the contract price or 1/3 of the insurance proceeds we are holding. When the repairs are within a week of being 50% complete, please call our customer service line and request the 50% inspection. The inspector should contact you shortly to schedule. Once the inspection returns at a minimum of 50% complete, the second 1/3 check will be released. When all of the repairs are within 2-3 days of completion please call the customer service line and request the 100% inspection. When the repairs are complete and the inspection comes back, we will need the following paperwork in order to release the remaining funds. Statement of completion from the homeowner Lien release from the contractor Final invoice from the contractor You can /fax all paperwork to us at insuranceclaim@gatewayloan.com. Please mail all endorsed checks to the attention of the Property Loss Department at the address below. If you have any questions, please let us know. Gateway Mortgage Group Property Loss Department 244 South Gateway Place Jenks, OK Office: Fax: Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

3 Please take a moment to review these procedures. It will explain the claim process and assist you in completing the necessary steps. As the mortgage servicer, we are named on the insurance proceeds check. The interest we hold in the real property entitles us to oversee the repairs and disburse the insurance funds accordingly. EXPLANATION OF CLAIM DOCUMENTS All checks must be fully endorsed by all parties in order for us to process. The following information is a description of the documents we may collect from you during the processing of your insurance claim check(s). The list below provides the document title, a description of the document, and where you would obtain the information. Your insurance carrier will provide this to you: Estimate of Damages: An itemized list of the damages and the estimated cost to repair. Your insurance company may also refer to this as an adjuster s report or adjuster s worksheet. Your contractor who is repairing your home will provide this to you: Contract: Signed agreement between you and the contractor including an itemization of the expected materials and total cost of repairs, including labor. This must be signed and dated by both you and the contractor as well as list your property address. Contractor license: A certification indicating a contractor s qualification to complete work in your state. This is typically issued by your local Contractor s State License Board. Liability insurance: Insurance the contractor has secured for their business to protect against losses arising from injury or damage to another person or property. W9: This is an IRS form completed by your contractor which provides the contractor s Tax Identification Number. Building permit: An authorization required by local governmental bodies for new buildings and major alterations or expansion of existing structures. Building plans, estimated costs, etc. and a fee, are usually required before a building permit is issued. Such permit is normally required to be displayed on the construction site. We provide you these documents: Declaration of Intention to Complete Repairs: A statement signed by you affirming your intent to repair the real property to a minimum of its original condition. Statement of Completion and Satisfaction: A statement signed by you stating that the repairs have been completed on the real property to your satisfaction. Contractor s Statement: A form completed by you and your contractor which provides the contractor s information, total contract amount, deposit amount requested and if a permit is required or not. The contractor is asked to provide a copy of the contract, their liability insurance, and license/registration. Mechanic Lien Release: A form to be completed by all contractors completing repairs on the real property. The mechanic lien release lists the total contract amount and the balance due on the contract. Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

4 CLAIM CLASSIFICATION We will classify your insurance loss as monitored or non-monitored based on your loan and the amount of the loss. Please contact our office to discuss the details of your loss and for the classification of your claim. NON MONITORED INSURANCE LOSSES Gateway Mortgage Group, LLC may return a claim check if your loss meets non-monitored requirements and your account is current. The following information must be included with your check for us to process the endorsement: Estimate of damages from the insurance company (copy). Declaration of Intention to Complete Repairs. NOTE: If your account is not current, please forward the endorsed check to our office. Past due loans will automatically follow the monitored process listed below. MONITORED INSURANCE LOSSES ******** PLEASE FOLLOW THESE INSTRUCTIONS Gateway Mortgage Group, LLC monitors losses that do not meet non-monitored requirements to verify the completion of repairs. Funds are issued as the repairs are completed and inspections are periodically performed to verify completion of repairs. The inspection of the real property is a visual inspection only, which does not verify that building codes are met. Generally, funds are released in thirds. TO RECEIVE THE FIRST DRAW In order for the first draw to be released we must receive the endorsed check with the following information: Estimate of damages from the insurance company (copy). Completed and Signed "Declaration of Intention to Complete Repairs". Copy of the signed contract for repairs, contractor's liability insurance, and contractor s license, and contractor s W9 completed form. Upon receipt of these items, at your request we will release up to 1/3 of the insurance funds payable to you and the contractor completing the repairs or 1/3 of the invoice price, whichever is less. A "Mechanic Lien Release" and a "Statement of Completion and Satisfaction will be sent to you with this draw. These items must be completed and returned to our office prior to the final draw being issued. The Mechanic Lien Release is completed by the contractor which waives the contractor s right to place a mechanic s lien on the real property after the contractor is paid in full. The total contract amount and the current balance due must be listed in the appropriate fields. The Statement of Completion and Satisfaction is completed by you and affirms that the repairs have been completed to your satisfaction. Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

5 TO RECEIVE THE FINAL DRAW The final draw is released upon completion of all repairs. The completed "Mechanic Lien Release" (for all contractors) and the "Statement of Completion and Satisfaction must be submitted to our office. Please contact us to request the final inspection approximately 1 week prior to expected completion. In the event additional funds are due to the contractor over the insurance proceeds, you are responsible for payment of these funds to the contractor and providing proof of such payment to our office. IMPORTANT NOTES: All draws are mailed via USPS. All structural repairs are to be completed by a contractor. If you are completing cosmetic repairs without a contractor, paid receipts must be marked as such by the supplier. In the event you have retained a public adjuster, you are responsible for fees due to the public adjuster. These fees are not paid from the insurance claim proceeds unless your insurance carrier allotted funds for their fee. Repairs are to be completed within 90 days or funds may be applied to the unpaid principal balance of the mortgage. If you expect your repairs to require more than 90 days to be completed, please notify us of the date the repairs are expected to begin as well as the expected completion date. If your real property has sustained a total loss, a copy of the blue prints for the proposed home are required. The proposed home must be comparable to the previous home in size and design, be located in the same location of your property as the destroyed home, etc. The blue prints should include the room count, square footage, and information concerning the foundation. We will review the proposed information to confirm the proposed real property is comparable. Please note you may be required to complete an appraisal to confirm the security of the mortgage is not affected. Please do not begin rebuilding until you have received confirmation, your inf ormation has been accepted. If you would like to apply insurance proceeds to pay your mortgage loan in full; please mail your written request with the endorsed check to the address listed below: LOSS DRAFT PROCESSING CENTER CONTACT INFORMATION: Loss Draft/Insurance Claim Inquiries: Fax Number: Address: insuranceclaim@gatewayloan.com Mailing Address: Gateway Mortgage Group, LLC Attn: Loss Draft 244 South Gateway Place Jenks, OK * If your loan is in a foreclosure or bankruptcy status, please contact us at Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

6 DECLARATION OF INTENT TO COMPLETE REPAIRS Gateway Mortgage Group, LLC - Mortgage Loan Number: The undersigned hereby acknowledges that I am the owner of the property located at: ("Real Property") and that the repairs in connection with the damage that occurred on due to. Work will be completed and the Real Property will be restored to its original condition or better condition than it was at the time of the loss. The undersigned agrees to use the claim proceeds issued for claim number for the restoration of the real property and to indemnify and hold Gateway Mortgage Group, LLC harmless against any and all claims which may arise as a result of funds being paid in advance for the above work or claim. Print Name Signature Print Name Signature Mailing Address: Address: Phone Number Other Contact Number Expected to Begin Repairs: Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

7 CONTRACTOR'S STATEMENT Gateway Mortgage Group, LLC Mortgage Loan Number: The undersigned herby acknowledges that it/he/she has entered into a contract to complete repairs to property located at: ("Real Property") Owned By ("The Owner") and that all work will be completed within industry standards in a satisfactory manner by competent and experienced personnel and will restore the real property to its original or better Condition, prior to the time of loss. The undersigned herby further acknowledges, represents and warrants that it/he/she will comply with all applicable laws, including but not limited to obtaining all required building permits and in addition, providing an executed and acknowledged lien release to the owner upon completion and payment for the work performed. The contract amount is $. Attach copy of signed contract. A deposit in the amount of $ has been paid. Permit required for job, (Yes)/,(No). Attach copy of permit. Contractor's Signature Contractor's Printed Name Contractor's Phone Contractor's Address City State Zip Please attach copy of license Business or Contractor License Number: Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

8 STATEMENT OF COMPLETION AND SATISFACTION Gateway Mortgage Group, LLC Mortgage Loan Number: This is to certify that the repairs to the property located at: ("Real Property") which was damaged by. On the date of, repairs have been completed and the real property has been restored to its original condition. This is to further certify that the proceeds of loss draft claim number, Insurance claim number received from, Name of insurance company on the date of, have been used to pay all outstanding bills for labor and/or materials that could create a lien against the real property. To the extent that any contractor, subcontractor, supplier, or materialman has not been paid in full and files a lien against the subject real property, the undersigned agrees to indemnify and hold Gateway Mortgage Group, LLC harmless from any and all losses associated with such lien, including attorney's fees and costs incurred in resolving any such lien rights and agrees to defend Gateway Mortgage Group, LLC from the enforcement of any such lien rights in a court of law. Signature Signature Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK

9 CONDITIONAL MECHANIC LIEN RELEASE Gateway Mortgage Group, LLC Mortgage Loan Number: : The undersigned herby acknowledges a contract in the amount of $ with a current balance due of $ for all labor, skill, and material furnished or to be furnished to the following real property located at: ("Real Property") Owned By: and for value received herby waives all rights acquired by the undersigned to file or record a mechanic's lien against said real property for labor, skill or material furnished to said real property. The undersigned affirms that all materials furnished by the undersigned have been paid for, and all subcontractors employed by the undersigned have been paid in full. Authorized Signature Print Name Print Company Name ************************************Acknowledgement********************************** State of County of This instrument was acknowledged before me on by. Signature of Notary Public My Commission Expires: Gateway Mortgage Group, LLC NMLS 7233 All rights reserved. 244 South Gateway Place Jenks, OK