Damage to Your Home
When damage occurs to a home, homeowners submit their claim to their homeowner's insurance company. Where the home secures a mortgage, the homeowner's insurance company is required to issue any checks for the claim (often called "loss drafts") in the name of both the homeowner and the lender. As a result, homeowners will need to contact their lender to obtain their endorsement on any claim checks or start the claims process, which is dependent on the loss amount. Please contact us at 1-888-884-5314.
If your home has been damaged in a disaster, additional assistance may be available. For more information on Disaster Relief, click here.
I received a claim check with New American Funding listed. What do I do?
The first step is to determine if your claim qualifies for Stamp & Go. Your claim will qualify for Stamp & Go if:
- Your loan is current and your total claim amount is for $40,000 or less (USDA loans have a $20,000 limit).
Delinquent VA and FHA loans do not qualify for Stamp & Go, regardless of the total claim amount. You can find the total claim amount for your insurance claim on the Loss or Damage Report or Adjuster’s Worksheet that you should receive from your insurance adjuster.
I have determined if my claim qualifies for Stamp & Go. Now what do I do?
- Please do not endorse the check before mailing it. Be sure to write your mortgage loan number on the check.
- Provide a copy of the adjuster's report from your insurance company.
- Mail by Regular Mail to: New American Funding c/o PFIC; Attention: Loss Draft Department: P.O. Box 7125, Troy, MI 48007-7125
- Mail by Overnight Mail to: New American Funding c/o PFIC; Attention: Loss Draft Department 700 Tower Dr., Suite 400 Troy, MI 48098
If your claim does not qualify for Stamp & Go:
- Your claim check must be endorsed by all parties before mailing it. Be sure to write your mortgage loan number on the check.
- Use the Monitored Claim Packet below to submit your claim.
How long does it take to get the funds from a claim check?
If your claim qualifies for Stamp & Go, New American Funding will endorse and return your check to you promptly after receipt of the required information. If your claim does not qualify for Stamp & Go, New American Funding will be required by the owner of your loan to hold your insurance proceeds and disburse them to you as inspections are completed on your home. You can find more information about how and when disbursements of your insurance proceeds will be made in the Monitored Claim Packet below. If you have any questions or need assistance, please contact us at 1-888-884-5314.