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#1780159 - 01/26/13 09:00 PM HUD SCRA Notice Amended
Andy_Z Offline
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The HUD SCRA Notice we all love so much has been amended in our Tools area. HUD has not amended it that I am aware of, but an SCRA revision effective Feb 2, 2013 will require a change in the HUD template. To not update this might be considered deceptive to the recipient as the "9 months" mentioned in foreclosure periods is now one year.

Look at the boxed section on Newest Tools for the link.
http://www.bankersonline.com/tools/tools.html
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#1780187 - 01/28/13 02:01 PM Re: HUD SCRA Notice Amended Andy_Z
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Thanks, Andy!
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#1780656 - 01/29/13 02:59 PM Re: HUD SCRA Notice Amended Andy_Z
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Thank you Andy!
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#1782286 - 02/01/13 08:24 PM Re: HUD SCRA Notice Amended Andy_Z
Andy_Z Offline
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We're all just trying to get through all this. HUD is lackadaisical on this form, IMHO as they update it slowly.
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#1783011 - 02/05/13 07:09 PM Re: HUD SCRA Notice Amended Andy_Z
VMack Offline
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How are most of you out there providing this notice? Is it automated or a manual process. Thank you.
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#1783023 - 02/05/13 07:24 PM Re: HUD SCRA Notice Amended Andy_Z
manimal Offline
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We send it with every past due notice. The past due notices print automatically, but the notice is added manually.
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#1784897 - 02/11/13 09:20 PM Re: HUD SCRA Notice Amended Andy_Z
gacompliancegirl Offline
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Ditto - our core processor's solution was not adequate.
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#1786341 - 02/14/13 08:09 PM Re: HUD SCRA Notice Amended Andy_Z
bisco Offline
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Is the HUD SCRA notice required to be sent for commercial loans as well as consumer loans? I'm thinking it would in a scenario where the Primary Borrower is an individual. Is this correct at all? Any guidance?

Thanks

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#1787527 - 02/20/13 02:54 PM Re: HUD SCRA Notice Amended Andy_Z
jfredo Offline
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I was looking at the HUD website at their updated form and I think theirs is wrong because it still says 9 months in some sections. The from is updated because it has correct expiration of 11/30/2014 but here is their wording..

http://portal.hud.gov/hudportal/documents/huddoc?id=92070.pdf

The SCRA states that in a legal action to enforce a debt against real estate that is filed during,
or within 9months
after the servicememberís military service, a court may stop the proceedings for a period of time, or
adjust the debt. In addition, the sale, foreclosure, or seizure of real estate shall not be valid if it occurs
during,
or within 9 months
after the servicememberís military service unless the creditor has obtained a valid
court order approving the sale, foreclosure, or seizure of the real estate.
 The SCRA contains many other protections besides those applicable to home loans.

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#1788196 - 02/21/13 09:44 PM Re: HUD SCRA Notice Amended Andy_Z
John Burnett Offline
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#1788439 - 02/22/13 04:28 PM Re: HUD SCRA Notice Amended Andy_Z
lbbanker Offline
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I also noticed that the section titled "Who May Be Entitled to Legal Protections Under the SCRA?" has changed quite a bit. It has changed from stating "Active Duty Members" to "Regular Members" and it does not have "their spouses" listed as it did in the previous version. I find that strange. Any comments???

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#1789234 - 02/26/13 04:24 PM Re: HUD SCRA Notice Amended lbbanker
kw004h Offline
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Looks like HUD finally amended the form: http://portal.hud.gov/hudportal/documents/huddoc?id=92070.pdf

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#1860759 - 10/11/13 02:15 PM Re: HUD SCRA Notice Amended kw004h
lds1958 Offline
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Let me bring this up one more time please. I'm trying to get the HUD form wording on our core system so that we won't have to send the notice manually anymore but I have a question regarding the wording of the notice. Does our wording have to be exactly as the wording on the HUD notice? The reason I ask is because our core system has wording but it's not exactly the same and I'm afraid if I use that I will get slapped by the examiners and they already will be able to find enough to beat me up.

Thanks!

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#1860816 - 10/11/13 03:08 PM Re: HUD SCRA Notice Amended Andy_Z
RR Joker Offline
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To my knowledge, although the format may vary to some degree,the wording is supposed to be exact.

I can't find compelling evidence to back that up though.
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#1860857 - 10/11/13 03:45 PM Re: HUD SCRA Notice Amended RR Joker
lds1958 Offline
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Thanks Joker, I found the letter from HUD 2006-28 and in there it makes a statement about the "Required Content of the Notice" so I'm going with that.

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#1860965 - 10/11/13 05:48 PM Re: HUD SCRA Notice Amended Andy_Z
RR Joker Offline
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Yes..that's what they always say 'required content'...

I guess anytime an OMB number is issued...to me it becomes 'official'. wink
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