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#1583799 - 07/27/11 04:29 PM
Servicemembers Civil Relief Act Notice
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100 Club
Joined: Jan 2006
Posts: 155
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So I'm confused on this notice. When and who do we give this notice to?
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#1583859 - 07/27/11 05:37 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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Joined: Aug 2010
Posts: 214
Land of Pears
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The notice must be sent to delinquent borrowers within 45 days after the missed due date of a mortgage loan payment.
Only servicemembers and their dependents can use the protections of the SCRA, but this notice should go to all borrowers so that a lender can reach dependents, too.
That means for all mortgage loan payments that are delinquent, notices must be sent within 45 days before collections can begin.
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CRCM, CAMS - Be Grateful!!
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#1586086 - 08/01/11 09:00 PM
Re: Servicemembers Civil Relief Act Notice
Y'all Comply
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Cape Cod
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Besides, for many of your mortgage loans, you may not know whether the borrowers are service members.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#1588034 - 08/04/11 11:26 PM
Re: Servicemembers Civil Relief Act Notice
Beth175
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Go back to ML 2006-28 All mortgage loans, including conventional mortgages and mortgages insured by HUD are subject to the notification requirement that became effective June 5, 2006. The notice must: • Be sent to all homeowners who are in default on a residential mortgage; • Include the toll-free Military OneSource number to call if servicemembers or their dependents require further assistance (1-800-342-9647); and • Be made within 45 days from the date a missed payment was due, unless the homeowner pays the overdue amount before the expiration of the 45-day period. http://www.bankersonline.com/tools/hud_scra2006-28.pdf
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1592856 - 08/17/11 02:33 PM
Re: Servicemembers Civil Relief Act Notice
Beth175
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Been out of the actual bank too long, but as I recall it was all about collateral codes programmed on the system.
If you have many (perhaps any) of these, I'd sure find a solution.
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1594225 - 08/19/11 04:26 PM
Re: Servicemembers Civil Relief Act Notice
Andy_Z
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Joined: Dec 2010
Posts: 178
Midwest
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I just had to clean this up recently. We pulled a report of all of our 1-4 family collateral codes and turned on the HUD & SCRA Notice for all of them. So, now if a commerical loan customer has 12 different pieces of collateral on their loan, our system would have 12 collateral "addendas". If one of addenda has a 1-4 family dwelling collateral code, they get the notice. Our system sends a combo HUD/Counseling notice & SCRA Notice it at 30 days past due. Our auditor said it's much better to send it out to send it out on loans it may not apply to, then to miss any it would apply to. Hope that helps!
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CRCM. My posts reflect my personal opinions and not those of my employer's.
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#1596040 - 08/24/11 08:06 PM
Re: Servicemembers Civil Relief Act Notice
ProfitDefender
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Joined: Feb 2009
Posts: 150
North Carolina
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We are sending the required notice on delinquent mtgs.....but is there a notice that should be given at time of loan applications?
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#1596047 - 08/24/11 08:12 PM
Re: Servicemembers Civil Relief Act Notice
ProfitDefender
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100 Club
Joined: Feb 2009
Posts: 150
North Carolina
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We are sending the required notice on delinquent mtgs.....but is there a notice that should be given at time of loan applications?
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#1596325 - 08/25/11 01:44 PM
Re: Servicemembers Civil Relief Act Notice
sunnyflowers
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Joined: May 2003
Posts: 832
southeast
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for payday and car title and tax refund anticipation type loans, yes. the notice is a declaration that the borrower is not covered under the John Warner Defense Act; i.e. is not active duty or a dependent of someone who is.
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From the end spring new beginnings. Pliny the Elder
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#1660682 - 02/03/12 08:59 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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Posts: 40,086
Cape Cod
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Actually, BOL has a later version of the form available at http://www.bankersonline.com/tools/lender/hud_scra.htmlThe one you linked to is a 2006 version.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#1674623 - 03/07/12 09:06 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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Joined: Dec 2009
Posts: 184
TX
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Are we required to send the HUD form or just the information on the form?
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My employer doesn't agree with anything I say.
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#1675650 - 03/09/12 04:35 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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I have not seen that the format is required, just the information on it. If you combined it with other materials and it was "lost" so to speak, you could be subject to criticism. But having the content on your own page in a different style shouldn't be an issue.
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1842268 - 08/13/13 09:56 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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New Poster
Joined: May 2012
Posts: 9
Omaha, NE
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Do the SCRA and HUD notices need to be sent to guarantors of business loans where residential primary dwellings are used as collateral? And does a person supplying the collateral, but not a signer on the loan need to be sent a SCRA and HUD notice if a business loan is deliquent?
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#1843645 - 08/19/13 04:44 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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All mortgage loans, including conventional mortgages and mortgages insured by HUD are subject to the notification requirement. The notice must: 1 Be sent to all homeowners who are in default on a residential mortgage; 2 Include the toll-free Military OneSource number; and 3 Be made within 45 days from the date a missed payment was due, unless the homeowner pays the overdue amount before the expiration of the 45-day period.
1 tells us a homeowner who is in default on the qualified loan.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1899005 - 02/21/14 07:23 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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Member
Joined: Aug 2011
Posts: 51
Arkansas
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Is the notice required to be sent one time or do you continue to resend the notice every 45 days until the loan is brought current or you take other action?
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#1899746 - 02/25/14 05:49 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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If they pay current and fall 45 days again, re-send.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1904283 - 03/11/14 06:49 PM
Re: Servicemembers Civil Relief Act Notice
Andy_Z
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New Poster
Joined: Apr 2013
Posts: 15
NY
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Where is it documented that we re-send every time the borrower is delinquent (If they pay current and fall 45 days again, re-send.)?
I am reviewing our Collection procedure and we have it documented that this is a one-time only notice. It makes more sense that it should be re-sent at each occurrence. Just want to have all of my ducks in a row before I request that the procedure be updated.
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#1905065 - 03/13/14 05:07 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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10K Club
Joined: Aug 2002
Posts: 47,670
Bloomington, IN
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From HUD's Web site by doing a Google search:
Pursuant to the statutory amendment, HUD has developed, in consultation with the Departments of Defense and Treasury, the form for the required notice of servicemember rights (Attachment 1, SCRA Notice Disclosure). All mortgage loans, including conventional mortgages and mortgages insured by HUD are subject to the notification requirement that became effective June 5, 2006. The notice must: Be sent to all homeowners who are in default on a residential mortgage; Include the toll-free military one-source number to call if servicemembers or their dependents require further assistance (1-800-342-9647); and Be made within 45 days from the date a missed payment was due, unless the homeowner pays the overdue amount before the expiration of the 45-day period.
If the homeowner is in default the notice must be sent. So if the loan is paid current and becomes default once again the notice must be sent again within 45 days.
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The opinions expressed are mine and they are not to be taken as legal advice.
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#1905772 - 03/17/14 11:07 AM
Re: Servicemembers Civil Relief Act Notice
Tessie
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Posts: 27,763
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One time per delinquent event maybe, but it's good that you can get that fixed now, especially since examiners are reviewing SCRA at a deeper level now.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1916163 - 04/21/14 04:02 PM
Re: Servicemembers Civil Relief Act Notice
Tessie
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100 Club
Joined: Mar 2012
Posts: 120
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Wanted to double check.......
The borrower goes delinquent and we send out the notices within 45 days of the missed payment. Let's say they do not come current by the following payment due date, we need to start another 45 day count and send another notice even though they have not come back to current correct?
Ex. I am 3 months behind on my payments and haven't become current during that time. Should I receive 3 separate copies of the notices for those 3 months?
Thanks in advance.
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