Have you experienced damage to your home due to the recent stormy weather and did you receive an insurance claim check from your insurance company?  If so and your home loan is serviced by Arvest Mortgage Company, we have a process in place to make the repair process as easy as possible for you.    Most insurance claim checks are made payable to both the borrower and the lender.  If your account meets all of the following criteria, Arvest Mortgage Company can, in most cases, endorse your claim check immediately:

• The check is <= $10,000 or the check is <= 10% of the appraised value of the property, up to $30,000.
  
• The loan is current and has a good payment history (i.e. no payments 30 days past due in the last 12 months).
  
• The loan-to-value ratio (LTV) is 85% or less.
  
• The Hazard Claim Affidavit is completed and signed.

To make this process as convenient as possible, we have representatives at most of our Arvest Bank locations who are authorized to endorse these checks for you on behalf of Arvest Mortgage Company.  

In instances where all of the above criteria are not met, Arvest Mortgage Company will deposit your insurance claim funds into an interest bearing account while the repairs to your property are being completed, and will work with you to make the repair process as smooth as possible.  Interest accrued will be disbursed the month following the final disbursement of the insurance claim funds.   Please contact our Customer Care Center Representatives at 1-800-232-5524 for further information regarding the disbursement process of insurance claim funds.