# Loss Draft & Insurance Claims FAQ

Source: https://www.gatewayfirst.com/support/account-help/loss-draft-and-insurance-claims-faq

## Loss Draft & Insurance Claims FAQ
### General Understanding
#### What is a loss draft? Is it the same as an insurance claim?
A loss draft is a check issued by your insurance company to cover property damage. While it is connected to an insurance claim, the term “loss draft” specifically refers to the payment issued and not the claim itself.
#### What is an insurance claim?
An insurance claim is a formal request to your insurance company for compensation for a covered loss or damage.
#### Why is Gateway listed on my insurance check?
Gateway is listed because we hold a financial interest in the property as your mortgage lender. Lenders must ensure repairs are being made to the property and completed as agreed upon from the Mortgage agreement. Your mortgage contract includes a mortgagee clause that requires the lender to be named on any insurance payments related to property damage.
#### Can I request my insurance company to remove Gateway from the check?
No, if Gateway is listed on your mortgage, they must be included on the insurance check. Your mortgage contract includes a mortgagee clause that requires the lender to be named on any insurance payments related to property damage.
#### Why does my insurance claim check need to be deposited?
Checks over $40,000.00 are considered a monitored claim and must be deposited to ensure funds are used appropriately for property repairs and to protect the lender’s interest.
#### Do I need a Gateway checking account to deposit my check?
No, but the check must be processed through Gateway for endorsement and fund release.
### Documentation & Endorsements
#### Why can’t Gateway endorse all funds directly to me?
Gateway must ensure funds are used for repairs to protect their interest in the property. Depending on your payment status and the amount of the claim, funds may need to be held in a secure account and distributed as repairs are completed.
#### Why does Gateway require this paperwork?
Gateway has an obligation to meet investor and regulatory requirements to be eligible to endorse and release insurance claim funds. This paperwork satisfies those requirements.
#### Can Gateway find a contractor or handle the repairs directly?
Gateway does not coordinate repairs with the contractor. That is the responsibility of the homeowner.
#### There may be many contractors involved in order to complete all the repairs, does Gateway need paperwork for every contractor?
This is determined case-by-case. Please reach out to our insurance claims team to review.
#### What is the insurance estimate?
A detailed and itemized list of all repairs needed to restore your property according to your insurance company. We will need all pages of this report. Your insurance may have accepted contractor bids or an estimate from a third party. Gateway will need the paperwork from your insurance that states this, and a copy of the third-party estimate accepted.
#### This is a legal settlement and there is not an insurance estimate, how do we fulfill this requirement?
Gateway needs a copy of the Settlement Agreement, and a copy of whatever estimate, bid, or quote was used in order to determine an agreement.
#### What if Gateway is not the primary lien holder, do I have to fill all this out?
The primary lien holder is responsible for maintaining investor requirements, Gateway will endorse the check and return it to you if the primary lien holder and Gateway is listed on the check.
#### How do I send the supporting documentation required?
You can upload documents through Gateway's [secure message portal](https://www.gatewayfirst.com/support/contact-support), email [insuranceclaim@gatewayloan.com](mailto:insuranceclaim@gatewayloan.com) , or mail them to Gateway Mortgage, Attn: Loss Drafts, 244 South Gateway Place, Jenks, OK 74037
#### Gateway is on my checks—how do I get Gateway to endorse them?
Submit the check and required documents to Gateway for endorsement and processing by mailing them to Gateway Mortgage, Attn: Loss Drafts, 244 South Gateway Place, Jenks, OK 74037.
#### What happens if I don’t sign my insurance check?
The check cannot be processed or deposited without your signature. It will be returned to you for proper endorsement.
#### What happens if I don’t send in all the documents needed for an insurance claim to Gateway?
Fund release may be delayed until all required documentation is received. If not received within 3 business days, unendorsed checks may be returned to you, which could further delay repairs.
### Temporary Housing & Living Arrangements
#### I can’t live in my property. Insurance gave me a check for housing, but Gateway is on it. How can I get Gateway to endorse the check?
Submit proof of displacement and housing expenses to Gateway for endorsement consideration.
### Inspections & Fund Disbursement
#### Why does Gateway need an inspection to release more funds?
Inspections verify that repairs are progressing before additional funds are released.
#### Does Gateway charge any fees for an inspection?
The inspections are ordered by Gateway and do not incur a cost to the homeowner.
#### How do I request an inspection?
Contact Gateway to schedule an inspection by phone at 877-764-9319 or by emailing [insuranceclaim@gatewayloan.com](mailto:insuranceclaim@gatewayloan.com).
#### How often are funds released to me?
Funds are typically released in stages based on inspection results and repair progress.
#### How are repairs monitored?
Gateway uses inspections to monitor repair progress.
#### Can I add a third party to any draws Gateway releases such as my contractor?
Gateway only issues funds to the borrowers on file. It is then up to the borrower to release funds to their contractors accordingly.
#### Can Gateway cut the check in my name only?
Gateway checks will be issued in the name of both borrowers. In the event there are more than two borrowers, the check will be issued to the first two names listed according to your mortgage documents.
#### My insurance company has released the depreciation, but Gateway is still holding funds, how do I get the depreciation funds released?
Gateway must have an inspection on file in order to release depreciation and will release funds according to the percentage of completion.
### Payment Status & Special Situations
#### What does my payment status have to do with my loss draft?
Your payment status may affect how funds are released and whether additional approvals are needed.
#### I am current and my claim is less than $40,000—what do I do?
Submit documentation to Gateway. Funds may be released with paperwork.
#### I am current and my claim is more than $40,000—what do I do?
Gateway may require inspections and staged disbursements. Submit all required documents.
#### I hired a public adjuster—can I use claim funds to pay them?
No, insurance claims funds cannot be used to pay public adjuster fees. These will need to be an out of pocket expense, or after all repairs are completed, any excess funds may be used at the borrowers discretion.
#### What happens if I have lender-placed insurance (LPI) and I have an insurance claim?
Contact Gateway for specific instructions. LPI claims may be handled differently.
### Support
#### How do I contact Gateway with questions?
You can contact Gateway via phone, email, or our [customer service portal](https://www.gatewayfirst.com/support/contact-support).

Customer Service Phone Number: 877-764-9319

Loss Draft Email: [insuranceclaim@gatewayloan.com](mailto:insuranceclaim@gatewayloan.com)

Can also utilize our Secure Message system on our online portal once you login at [GatewayFirst.com](GatewayFirst.com)
Published: 2026-02-10T14:39:11.528Z