Loss Draft Checks – FedEx Expedited Mailing Opt – In (Disaster Only)

In order to serve the needs of borrowers who have been impacted by Hurricane Harvey, Irma and Maria, as well as the California Wildfires, we are now providing you with the option to Fed Ex overnight all Loss Draft claim checks.

Our Current Process

The current Loss Draft claim check mailing process for expedited and standard mail delivery is as follows:

• Expedited Mailing (Federal Express):
  • If the Loss Draft claim or draw check is $35,000.00 or more, the check is sent expedited via Fed Ex overnight delivery.
• Standard Mail (US Postal Service):
  • If the Loss Draft claim or draw check is less than $35,000.00, the check is sent standard mail via US Postal Service, which takes 7-10 days to deliver.

Opt-In/Opt-Out Process

Opt-In Expedited Mailing (Federal Express):

• All Loss Draft claim or draw checks will be sent expedited via Fed Ex overnight delivery.  This is not dependent on the amount of the check.
• The cost to send the check via Fed Ex overnight ($9.00 per mailing) will be passed on to you, our Client.

Opt-Out of Expedited Mailing Process

• If you wish to “Opt-Out” of the expedited claim and draw check delivery option, the current process will continue to be followed.

Benefits of Opting In

• Time saving in the delivery of claim checks to your customers/members.
  • All claim and draw checks will be expedited via overnight delivery (1-2 days versus 7-10 days).
• Reduction in Stop Payment processing.
  • Ability to track and confirm delivery to the borrower address/door.
  • Reduction in work effort in performing a stop payment, including the re-deposit of funds and subsequent reissue of the check, along with mailing time back to the borrower.
• Reduction in borrower complaints, escalations and dissatisfaction relative to the delay and/or non-receipt of claim funds.
  • Ability to track and confirm delivery to the borrower address/door.
  • Reduction in escalations and complaints.
  • Improved borrower and client satisfaction.
  • Expedites the delivery and receipt of claim funds.
  • Enables borrowers to pay contractors more quickly, reducing the risk of non-payment/delay in payment.