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#2092284 - 08/09/16 01:52 PM SCRA and Servicemember Missing in Action
Compli Offline
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Posts: 73
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We were reviewing procedures and the topice of deceased servicemembers came up which also led to servicemembers that are listed as MIA. Since a servicemember can be listed as MIA for years how do others handle the interest rate reduction and protection from legal action, foreclosure, repossession or eviction?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2092505 - 08/10/16 03:14 PM Re: SCRA and Servicemember Missing in Action Compli
CULady Offline
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I can't tell you what the regulatory stance is on this, but my moral compass says to just leave it at the 6% and keep the protections in place.

Someone just lost a father/mother/husband/wife/etc and you want to nitpick their interest rate? With rates as low as they are I can't imagine you would be losing out on all that much income.

JMHO.

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#2093655 - 08/17/16 01:25 PM Re: SCRA and Servicemember Missing in Action CULady
Compli Offline
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CU Lady I totally agree. I have not had this come up in any SCRA exam but since it just recently came up in a procedure review dicusssion who knows what will come up in the next exam! I say leave the benefits/protections from legal action in place.

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#2093744 - 08/17/16 04:24 PM Re: SCRA and Servicemember Missing in Action Compli
compliance 1999 Offline
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You should check state law. I'm in California and the state military code addresses MIA and soldiers who died in combat.

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#2093939 - 08/18/16 02:16 PM Re: SCRA and Servicemember Missing in Action compliance 1999
Compli Offline
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compliance1999 - I will make sure that CA is reviewed and the SCRA team knows what the State requirements are for a servicemember who is MIA.

Thank you!

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#2093992 - 08/18/16 04:05 PM Re: SCRA and Servicemember Missing in Action Compli
Andy_Z Offline
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In that MIA status could go MANY years, you may well end up with a charge-off unless the SM is declared legally dead apart from the service. Still, what collateral do you have, is it worth going after - decisions, decisions.
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#2094072 - 08/18/16 06:59 PM Re: SCRA and Servicemember Missing in Action Compli
compliance 1999 Offline
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Joined: Jul 2016
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Compli

For CA look at the Military and Veterans Code 400-409.14 and 800-12.

From previous work as a compliance analyst for a mortgage servicer, nearly half the states have military protections that go far beyond what SCRA provides.

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