Mortgage Loss Draft Frequently Asked Questions

Get answers to your questions about mortgage loss drafts.

Initial Claim

Contact your insurance company to report the claim. Your insurance company will send an adjuster to your home to assess your property damage, determine a claim settlement, and issue an insurance claim check.

By Phone

You can call us at 1-888-882-1858 or 888-882-1847. We are available Monday – Friday 8:30 AM - 9:00 PM EST.


Visit where you can do the following:

  • Report damage, upload pictures and documents
  • Download forms and submit insurance documentation
  • Make repairs & request inspections

You can either bring the check to an M&T branch or mail the check as following:

Regular Mail

M&T Bank Loss Drafts Dept.
P.O. Box 6501
Springfield, OH 45501

Overnight Mail

M&T Bank Loss Drafts Dept. 
One Assurant Way
Springfield, OH 45501


M&T Bank Loss Draft Dept. 
P.O. Box 1288
Buffalo, NY 14240

Stop by any local M&T Bank Branch or contact us at 1-888-882-1858. CHOICEquity (HELOC) call 1-800-724-2440. 

Depending on the amount of the claim and/or the status of your loan, we may need you to endorse the check and send it in for deposit. 

Because of federal regulations and investor guidelines we are required to monitor the progress of repairs for large claims or for claims on delinquent loans. 

Repair Phase

We use periodic inspections to confirm the progress of repairs

M&T Bank has a financial interest to ensure the home is repaired to the condition before the property loss. 

The first inspection should be requested when you and your contractor agree the work is 50% complete. The second inspection should be requested when you and your contractor agree the work is about 95% complete.

These inspections must be completed for insurance claim funds to be released.

We will deposit your claim funds into a special account for your repairs. Claim funds are then released in three draws (checks). 

The first draw of funds will be released after all necessary forms, and insurance and/or contractor documents are received. 

When and your contractor agree the work is 50% complete, contact us at 1-888-882-1858 or (CHOICEquity (HELOC) please call 1-800-724-2440) to request an inspection. The second draw will be issued after the inspection confirms the progress of repairs.  

When your repairs are about 95% complete, contact us to request your final inspection.  The third and final draw will be released once the inspection is complete and the work is confirmed to be 100% complete.

Yes, a claim packet will be sent after you notify us of the claim. The claim pack includes contact information, an explanation on how the funds are released, and forms specific to your claim.

Please call 1-888-882-1858 to speak to a Loss Draft representative, or log into (CHOICEquity (HELOC) call 1-800-724-2440).

General Questions

The funds issued by the insurance company are for the sole purpose of repairing the damages to the home. 

If claim funds remain after repairs are 100% complete, we can review a request to apply the funds to the loan.  If you decide to not repair the property, we will then apply the funds to the outstanding balance on the loan according to the terms of your mortgage.  

Please contact us at 1-888-882-1858 for more information. (CHOICEquity (HELOC) call 1-800-724-2440) 

If you wish to use your insurance claim funds to pay off your mortgage, please contact M&T Mortgage Customer Service at 1-800-724-2224 to request a payoff quote. The claim funds must be sufficient to pay off your loan

If your loan is current, we will issue a check in the amount that exceeds your principal balance.   

Please contact your insurance agent for more information.  The bank cannot request additional claim funds on your behalf. 

Payments to public adjusters or attorneys hired to help with an insurance claim are the responsibility of the borrower.  We are unable to pay public adjusters or attorneys using the claim funds.  Any funds remaining after all work is 100% completed, and all contractors are paid will be released back to you.  You are responsible for payment to the Public Adjuster or Attorneys hired to assist with your claim.

*If you only have a CHOICEquity (HELOC), please call 1-800-724-2440 or stop by any local M&T branch​.