Our LOS is printing a 'Covered Borrower Identification Statement' with our loan docs with each consumer product--it being a covered loan, covered borrower or none of the above.
Doc asks the borrower to identify themselves as a service member, dependent of a service member, or neither with sig lines.

We are checking MLA status using the credit bureau. I'm trying to figure out why we'd need this doc signed at all since we can't rely on applicant for safe harbor...

Our LOS (LaserPro) presents this form as an option. I've instructed lenders/processors not to use it after Oct 3. I'm hoping it can be turned off completely.

I believe that is the old form. After Oct 3 we will be turning it off completely and it will only print the new MLA covered borrower statement with the model language.

I thought it was an old form too, but processors indicated to me it was new. I'm a newbie so what do I know!

Maybe it's and old form resurfaced with the latest los update. We also use LaserPro Bville. Thanks CompliantOkie as well for your input.

It's the same old form, they just renamed it. It still doesn't do the bank any good as of 10/3.

What happens if you have two borrowers and one is covered and one is not. i.e. I am active in the military and am getting a loan with my sister who is not a dependent nor active in the military. Would there be any reason to have that form because the loan is still a covered transaction?

There's no reason to have that form period after October 3rd.

If you will go into LaserPro to the Regulatory Options page, you will see "Print Military Lending Act Covered Borrower Identification Statement". Make sure that is not checked and you will no longer get that disclosure.