Home Ownership Warranty Corporation Companies Payments to be Disbursed

At the International Builders’ Show it came out that many members invested in a company called Home Ownership Warranty Corporation back in the 80s & 90s. It was a home warranty company that went out business and into receivership some time ago. To make a long story short, the company is going through the liquidation process and many of the original investors are entitled to a return of their capital contributions. The problem is that since so much time has passed, some of the contact information for builders is outdated.

NAHB has created a website to help our builders contact the administrator for HOW Corp and to update their address. There are essentially two links. The background page is available here.

There is another link embedded in the page above which takes you to another page that lays out how to update contact information. There is an April 15 deadline to submit information.

For more details, read the article below:

Twenty-two years after it went into receivership, builders who made capital contributions to the Home Ownership Warranty Corporation companies may be eligible to get some of their money back.

Home Ownership Warranty Insurance Company (HOWIC) was a risk-retention group under the Home Warranty Corporation (HWC). As the parent company, HWC owned all the shares of stock in its operating subsidiaries: HOWIC and the Home Owners Warranty Corporation (HOW), which managed the insurance operations. The three companies are collectively referred to as the HOW Companies.

In 1994, the HOW Companies were placed into receivership. The receiver has now moved forward with plans to liquidate the company and is preparing to distribute payments to former HOW builders with previously approved claims for capital contributions (in legal terms known as eligible Builders).

As part of the liquidation process, the receiver set a deadline of Jan. 12, 2009 by which all claims against the HOW Companies needed to be filed. Any eligible builder seeking return of capital contributions made to the HOW Companies was required to file a claim by that deadline, and many National Association of Home Builders members did so.

After the receiver returns capital contributions to eligible builders, the receiver, as a final step, will distribute residual assets to builders who were insured under unexpired HOWIC insurance policies as of Oct. 14, 1994 (in legal terms known as builder distributees). However, builder distributees do not need to submit claims for their share of the residual assets of the companies.

As a service to the Home Builders Association membership, staff is looking at ways to ensure that the receiver has the up-to-date contact information for all eligible builders and builder distributees, and has posted the relevant contact information on file with receivership staff.

If you are an eligible builder or builder distributee, please read the directions and additional information on this web page.

Don’t Lose Money–Submit Your 2015 Claims to Member Rebate and Save!

The 4th Quarter deadline for rebate claim submission has been extended to Friday, March 4th, 2016! This provides all Builder and Remodeler Members an extra two weeks to claim completed residential addresses from July 1, 2015 through December 31, 2015. Builder & remodeler members can submit a claim for any completed residential addresses from July – December 2015 that used any of the Member Rebate Program’s 50+ Manufacturer brands in order to save money. This is the LAST Chance to claim rebates on work completed in 2015!

Why should you?

Participating members earned an average of $1,010 in rebates in 2014, and all members of the Home Builders Association of Greenville are eligible to participate. Over 70% of 2014 participants received more than their annual association dues in rebates.
How can you?

3. Receive a rebate check

Need more help?
Here are some helpful links:
Builder Testimonials: http://bit.ly/1HQGSeF
Webinar Schedule: www.HBArebates.com/webinar.html
Member Rebate Program Tutorial Videos: www.HBArebates.com/tutorial.html
Member Rebate Program Claims Process: www.HBArebates.com/claimsprocess.html
Member Rebate Program

Member Rebate Program

ATTENTION BUILDERS AND REMODELERS: If you have changed your mailing address since you have signed up with the program, please send us an email of your current/updated mailing address. All emails can be sent to Josh@HBArebates.com We look forward to writing your next rebate check!

Southern Builders Network Education Conference Coming In November

Join the HomeBuilders Association of South Carolina for the Southern Builders Network Education Conference November 7-10 at The Westin Hilton Head Island Resort and Spa in Hilton Head, SC. This exciting new event is designed to deliver a valuable benefit to members and to provide a distinct advantage to anyone in the home building industry.

Southern Builders Network Education Conference (SBN) is a highly intensive, comprehensive educational and social experience reserved for home building professionals within the HBA. SBN will provide you the perfect platform to acquire new business strategies, while increasing your knowledge of current building industry practices. It offers an ideal and fun environment for establishing relationships and a means for increasing business profitability.

Educational sessions can include:

  • Construction Supply & Management 101
  • Building to the IECC at No Additional Costs
  • Top 10 Legal Tips for Anyone Working in the Construction Industry
  • Technology & Construction Apps Every Builder Should Have and Use
  • How Will the National Health Care System Affect Your Business?
  • A Look at Your Company & Personal Liability
  • Market Analysis in the New Economy
  • How to Have a National Marketing Campaign on a Local Budget
  • The Motivation Needed to Keep Your Business on the Cutting Edge
  • A Whole System Approach to Green Building

Education sessions presented by the industry’s most prominent experts, coupled with relaxing social events and the possibility for personal downtime, makes SBN a unique opportunity your entire family will enjoy.

Register for the Southern Builders Network Education Conference today and take advantage of special rates and excursions!