Flood Insurance Indymac Bank

[keelog_IHB]

Which banks best handle flood insurance claims? Some endorse check to homeowner and send back to homeowner, some have limits say $40,000 or a small claim and endorse and send claim check back to homeowner, some parcel out the money as repairs are made, some inspect homes during repairs, etc.....anyone familar with how Indymac Bank handles flood claim payment to homeowners.....?????

 

[usctrojanman29_IHB]

[quote author="runtime34" date=1259203459]Which banks best handle flood insurance claims? Some endorse check to homeowner and send back to homeowner, some have limits say $40,000 or a small claim and endorse and send claim check back to homeowner, some parcel out the money as repairs are made, some inspect homes during repairs, etc.....anyone familar with how Indymac Bank handles flood claim payment to homeowners.....?????</blockquote>
Banks do not handle flood insurance claims, lenders are the ones that require the flood insurance if the property is in a specific flood zone. The insurance company providing the flood insurance is the one that handles the claims.

 

[keelog_IHB]

Thx



I meant once flood insurance company cuts a check to homeowner that also makes the mortgage company a payee requiring endorsement........then might you know how Indymac processes such a check...do they endorse and send back to homeowner?

 

[ABC123_IHB]

Since Indymac got taken over by the FDIC, I doubt that they process a check. Why don't you contact OneWest Bank?

 

[keelog_IHB]

Thx....will do