The SCRA site works, the MLA site didn't for me.

This site: https://mla.dmdc.osd.mil/ worked for me.

Okay, I'm feeling a bit sheepish It actually worked for me the first time, I just didn't take the time to read through the whole message. Uffda

Is the Covered Borrower Identification Statement still required under SCRA after the 10/3 MLA effective date?

SCRA is it's own beast, and is still effective. Check out the SCRA/MLA tool on BOL here:

https://www.bankersonline.com/tools/152497

I think y'all may be talking about two different forms.

The Covered borrower ID statement seems to be going away due to the safe harbor check of either the DOD data base or the credit report.

The 'delinquent notice' is what the above tool is referring to and it still applies.

Perfect. Thanks for your help.

Not sure if this question was ever answered here so thought I would take a stab. The "Department of Defense Consumer Credit Disclosure" is required to be provided to the covered borrower. Many times when this is the military member and their spouse I read it as they both would require the notice since one is covered as a member and the other a dependent. Not sure if a separate notice is required.

Also, another question for LP users is what are you doing to evidence receipt? The test form I reviewed had a signature line. I would prefer to remove the signature line and instead have a date referencing when the form was generated and delivered. Has anyone tried modifying this form or determined how they will address?

LP user here - if you find a way to take the signature line off of that form, please share. I have not yet found an option to do so.

Otherwise, our plan is to put that document in the closing stack ahead of the note and procedure will be for the closer to read it and have the borrower(s) sign it before presenting the note.

At this point we had the same plan Becca. I would love to have it generate a delivered date and remove the signature line, but at this point that does not appear to be an option. Do you know if you have multiple covered borrowers (e.g., member and dependent) if it generates two separate notices or one notice with multiple signature lines?

I don't know. The tests I've run were all single borrower.

Our LP system generates a notice for each covered borrower. Then we set it up to print two copies for each, the signature line on the second copy says "Copy"....prompting the closer to give it to the borrower.

Is it correct that each covered borrower (say military member and spouse), must receive the oral disclosure and each must receive his/her own copy of the written disclosure?

Bump

That is the way our document vendor is interpreting it.

Thank you!