Important Steps to Receiving Disaster Assistance

If your property has sustained damage as a result of a natural disaster, please follow these steps:

Step One

Contact your insurance company to file a claim. Find out when an adjustor will come and when you can expect your insurance loss draft check.

Step Two

Contact FEMA (Federal Emergency Management Agency) to register for assistance. They can be reached at (800) 621-3362 or visit DisasterAssistance.gov. Please note that if you are eligible for an Individual Assistance grant you are not required to pay back the grant to FEMA. However, loans from SBA (Small Business Administration) must be repaid.

Documents and Materials You Need To Apply:

  • Social Security number
  • Address of the location where the damage occurred
  • Current address
  • Current telephone number
  • Total household annual income
  • Routing and account number for your checking or savings account (this allows FEMA to directly transfer disaster assistance funds into your bank account).
  • A description of your disaster-caused damage and losses

Step Three

Contact Standard Mortgage. If you have sustained property damage or face a financial hardship from the recent natural disaster, please contact our hotline at (800) 518-4551 or (504) 620-5138 or email custser@stanmor.com after you have filed your claim and registered your loss with FEMA. We will be prepared to discuss how Standard Mortgage will be involved in the process to restore your home and look for other ways we can work with you with flexible loan payment options.

Disaster relief for loan payments will be provided if your home was damaged or you are experiencing employment disruption from the disaster. The type of relief will be specific to your loan type and individual needs. During that time, we

  • Don’t charge fees for late payments
  • Don’t report late payments to credit bureaus
  • Offer flexible loan payment options based on your individual situation
  • If you are able to do so, we do encourage you to continue making your monthly payments to the extent possible, but if you cannot, we may ask that you complete a loss mitigation package to apply for forbearance assistance. Please keep in mind that any unpaid mortgage payments will become due at the end of any disaster relief period.

Step Four

When you receive your insurance loss draft check you will notice that it is co-payable to you and Standard Mortgage Corporation. As a mortgage provider, we have a financial interest in ensuring your property is restored. Please notify us as soon as you receive your check. We will give you information and forms you will need to move forward with repairing your home.

Minor Damage: In most cases if your home has only minor damages and your loan is current, we will not oversee the repair process. Instead, we will endorse the insurance loss draft check to you to manage all repairs.

Significant Damage: For many situations, including significant damage, Standard Mortgage will monitor the progress of the repairs to your home. We will work with you to ensure that your property is restored to its original condition. We hope to help protect you from incomplete repairs or potential fraud from unlicensed contractors.

Endorse the insurance loss draft check to Standard Mortgage Corp. On property repairs that we monitor, you will need to endorse the check and send it to us where it will be deposited into an interest bearing account. Please call or email Standard Mortgage for additional important information and instructions.

  • Once we have reviewed your individual situation, we will help guide you on contacting a licensed contractor and gathering additional information to start the repairs to your home.
  • In most situations, we will send your repair checks directly to you and made payable to both you and the contractor you hired. If your loan is current, disbursements are made at various stages of completion:
  • After the initial requested documentation is received
  • When repairs are 50% complete
  • When repairs are 100% complete and have been inspected.