How do servicers handle insurance claims?
When a borrower files a homeowners insurance claim, the servicer may be involved in managing the disbursement of insurance funds for property repairs. Freddie Mac requires servicers to ensure repairs are completed properly and funds are used appropriately.
Related FAQs
- Why do servicers track borrower payment history?
- How do servicers manage escrow disbursements?
- Why do servicers send annual escrow statements?
- What is a servicing performance review?
- What is escrow management?
- Why did my servicer change?
- Does a servicer change affect my loan terms?
- How do I know a servicer transfer is legitimate?
- Can I choose my mortgage servicer?
- What should I do if I sent a payment to the old servicer after a transfer?
- How do servicers handle customer inquiries?
- What does a mortgage servicer do?