To Whom It May Concern, We, the undersigned property owners, contractors, and concerned citizens of the State of Georgia, hereby petition for the revision of policies and procedures that currently require mortgage companies to
be named as co-payees on insurance settlement checks exceeding $14,999.

Background: Under current practices,
when insurance claims related to property damage exceed $14,999, insurers often include the mortgage lender as a payee on the disbursement check. While we understand the need to protect the lender’s financial interest in the property, this practice frequently results in significant delays and administrative burdens that affect the homeowner’s ability to: - Promptly complete urgent property repairs. - Prevent further property deterioration or
safety hazards.

- Compensate licensed contractors and adjusters in a timely manner. - Restore habitability for displaced families. Petition Request: We respectfully request that lawmakers and regulatory agencies in the State
of Georgia enact or amend legislation and insurance regulations to: 1. Remove the requirement for mortgage companies to be named as co-payees on insurance settlement checks exceeding $14,999, when the property is not in default and the homeowner is in good standing on their mortgage. 2. Allow direct payment to the insured party (homeowner) or their authorized contractor/public adjuster, when: - The homeowner provides documentation proving the insurance proceeds will be used exclusively for repairs. - The homeowner signs a sworn affidavit of
intent to repair.

- A licensed contractor or public adjuster provides a verified estimate and scope of work. 3. Implement timelines and penalties for unreasonable delays in mortgage endorsement of checks, when inclusion is required. Justification: Delays caused by requiring mortgage endorsement can result in: - Missed repair windows and worsening damage. - Legal disputes with contractors and insurance companies. - Financial strain on property
owners and small businesses. - Inequitable treatment of responsible homeowners. This petition advocates for policy reform that supports responsible homeownership, timely disaster recovery, and fair access to insurance
funds intended for restoration—not escrow retention.

We urge lawmakers, regulators, and insurance carriers to adopt fair and efficient procedures that prioritize the homeowner’s ability to recover after a loss.

Sincerely,