In the aftermath of Hurricane Harvey, Cenlar and our partners are continuing to work to provide assistance to borrowers affected by this natural disaster.
Specifically, Cenlar’s third-party vendor, Assurant Specialty Property, will be opening a remote loss draft site in Houston, Texas to offer assistance to affected borrowers. This site will open on Monday, September 25, and will run approximately 4 to 5 weeks.
The location and hours of operation are as follows:
Residence Inn Houston West University, 2939 Westpark Drive, Houston, Texas 77005.
Hours – Monday through Friday, 8 am to 6 pm Central Time and Saturday 8 am to 1 pm Central Time – closed Sunday.
In order to provide the best possible customer experience, and to ensure we are able to endorse your borrowers’ checks, please instruct your borrowers to first contact Cenlar Customer Care to make arrangements before traveling to the mobile loss draft site.
You should also know that the remote site will endorse checks from all insurance companies, not just Assurant Lender Placed Insurance (LPI) policies, as long as the insurance check meets the criteria to be endorsed and released.
In general, Cenlar’s Loss Draft Processes follow the Fannie Mae requirements as the industry standard, and GSE standards generally as outlined in the following:
Freddie Mac: Section 8202.11 of the manual
HUD: Handbook 4000.1/III/A/1/h/(C)(2)
VA: Pamphlet 26-7, Revised, Chapter 9, Section 10
Also, if there are payments for contents included in a check that needs to be deposited, a check for the amount of the contents will be issued to the borrower(s) only, once the endorsed check from the borrower is received and deposited.