morgage co sells loan and..help...

[pamela6000]

Hello,
I have a question that I hope someone can answer. We purchased a home last march and financed about 100,000 out of 245,000. We used a mortgage broker. We have a 3 yr arm. Our loan has been since sold, and resold 4 times. Why is this.?.but more specifically, we had a problem with this last resale of our loan. We are in Florida and were hit by hurricane charley. We had $17,000 of damage on our home..some of which needed immediate attention due to roof leaks, etc.
We called our current morgage co for their policy. They told us for hurricane claims, they would endorse over any checks under $20,000, but over amount would go into a "contractor fund". We knew our repairs would be under due to our high deductable. We began the work, both professionally, and my husband, currently out of work, also did much of the repair to be paid himself by the insurance company.
It took a long time..months, for the adjuster to show up. ..and another month for the check which we finally received. We had to borrow some money from my parents to cover the repair of the roof while waiting for the check.
To our surprise..our loan had been sold in the mean time..without any knowledge to us, or our insurance company. THey cut the checks with our names, and our morg.co name(previous company), only to find out..they no longer had our loan. THis new company has a different policy. They hold any money over $10,000 and need receipts, liscenses, inspections...etc etc etc. We were utterly sick...over this. We are trying to get the new company just to endorse this check for the old company, as the prior co says they cannot endorse it without an ok by the first..etc. as they no longer have our file even though the loss and claim occured with this first morgage company.
Is there anything we can do to get this company to endorse these checks with their name imprinted? Otherwise it will take over a month again or more..plus we did not save one receipt and my husband of course is not a liscened contractor.

If not, could we try to refinance in the mean time, with a lender who has takes the "hands off" approach and will endorse our insurance check?
Thanks..any help greatly appreciated!!!! pamela

"...If not, could we try to refinance in the mean time, with a lender who has takes the "hands off" approach and will endorse our insurance check?..."

The person to whom the check was written will have to endorse it.

If that is not possible, you need to ask whoever wrote the check to void the old check and issue a new check with the new lender's name on it.