Understanding Insurance Check Endorsement
An insurance check endorsement involves the essential step of signing the back of your insurance check, granting authorization for it to be cashed. When you file a claim, the insurance company issues a check made payable to both you and your mortgage lender, Quicken Loans. For the check to be valid, both parties must endorse it.
Why Quicken Loans Requires Your Insurance Check Endorsement?
Quicken Loans, holding a security interest in your property, ensures that the insurance funds are used exclusively for property repairs. This safeguards both your home investment and Quicken Loans’ interest in your mortgage.
To guide you through the process, follow these steps:
1. Logging into Quicken Loans Account
Start by securely logging into your Quicken Loans account, granting access to essential features.
2. Accessing the Insurance Center
Within your account, find the dedicated Insurance Center, designed for managing insurance-related matters.
3. Uploading Insurance Check Information
Provide the necessary details from your insurance check to initiate the endorsement process.
4. Verification Process
Quicken Loans employs a thorough verification process to ensure the accuracy and legitimacy of the provided information.
5. Endorsement Confirmation
Once verified, you’ll receive confirmation of the endorsement, marking the completion of the process.
Where to Send Your Endorsed Insurance Check
After endorsing your insurance check, mail it to Quicken Loans at the following address, including your loan number on the envelope:
Attn: Servicing Documents Property Repairs
635 Woodward Ave
Detroit, MI 48226
Steps to Endorse Your Insurance Check to Quicken Loans
Follow these steps:
- Sign the back of the check above “For Deposit Only Quicken Loans.”
- Write your loan number on the back.
- Mail the endorsed check to the provided address.
- Processing Time for Endorsed Insurance Checks
Quicken Loans typically processes endorsed insurance checks within 2-3 business days. Once processed, they’ll be sent back to you via overnight mail.
Insurance Claims Less Than $50,000
If your claim is below $50,000, no insurance loss report is needed. Simply endorse and mail the check.
Insurance Claims Exceeding $50,000
For claims surpassing $50,000, send Quicken Loans the endorsed check, insurance loss report, and, if required by your state, the contractor’s license and/or lien waiver.
Have Questions? Contact Quicken Loans Customer Service
For queries about Quicken Loans insurance check endorsement, reach out to customer service at 1-888-678-3731.
Your endorsement on the insurance check is crucial for Quicken Loans to ensure the allocated funds go toward property repairs. Sign above “For Deposit Only Quicken Loans,” add your loan number, and mail it to the provided address. Expect processing within 2-3 business days, and receive your endorsed check back via overnight mail.
FAQs– Quicken Loans Insurance Check Endorsement Address
Q. 1: What is the Rocket Mortgage Loss Draft Department Phone Number?
The phone number for the Rocket Mortgage Loss Draft Department is 1-866-947-8425. Contact them for assistance with your insurance claim.
Q. 2: Rocket Mortgage Loss Draft Department
Responsible for processing insurance claims, this department ensures correct processing and reimbursement for homeowners.
Q. 3: Documents Needed for Rocket Mortgage Insurance Claim
To file a claim, provide a copy of your insurance policy, the insurance loss report, contractor’s estimate, and relevant licenses and waivers.
Q. 4: Processing Time for Rocket Mortgage Insurance Claims
Rocket Mortgage typically processes claims within 30 days, though processing time may vary based on claim complexity.