Our system currently allows three types of past due notices to be sent for HUD. The three selections are HUD only, SCRA only, and then HUD-SCRA combined. With that said, we are wondering if SCRA should be sent to all other loans as the first part of our collection/repossession process? I understand this isn't a requirement. I am just trying to see if this would be a best practice for our first line of defense for SCRA compliance.
Thanks so much!
Should the HUD-92070, SCRA Notice disclosure, still be used after it's stated expiration of 12/31/17, and when can an updated disclosure be expected?
Does the SCRA apply for commercial loans that are reportable to HMDA and have more than 2 participants as the owners? if yes, to whom applies?
SCRA requires a written request. Does this mean it requires a "signed" written request from the borrower?
How can the Servicemembers Civil Relief Act create very significant fines if we don’t comply with correct delinquent box rent collection procedures?
It seems that the MLA DMDC database is more complete than the SCRA DMDC database. For SCRA purposes, can we use the MLA DMDC for SCRA purposes?
When SCRA coverage is about to expire for a servicemember, what types of disclosures does the bank have to provide? Is there a model disclosure that needs to be used?
Can we report a past due loan to the credit bureau when SCRA protections apply?
Does SCRA impact the bank's responsibility to respond to legal subpoenas, warrants and liens and does it restrict the bank from assessing a fee for processing legal notifications?
Can you tell me when the latest change was on the Credit Counseling/SCRA notice? Where can I find the correct information?