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#2157668 - 12/19/17 02:08 PM Periodic SCRA searches during foreclosure
happyauditor Offline
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happyauditor
Joined: Nov 2004
Posts: 812
NY
Can someone point me where in the SCRA it states or implies that periodic searches should be performed throughout the foreclosure process? It seems like common sense to do so, but just trying to find a reference.

Thanks.
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#2157977 - 12/20/17 09:26 PM Re: Periodic SCRA searches during foreclosure happyauditor
Andy_Z Offline
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Andy_Z
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Easy answer, it doesn't imply or say it outright.

You simply need to know your borrower is not covered and as that borrower's status may change, you do need to know what's right on that date you'll be on the courthouse steps offering that home to buyers. That is the date that counts. Hence your comment that it's good to do. But the SCRA doesn't say you need to go to the database, that's basically examiners saying it's the best way to meet your obligations with good, recognized resource.
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#2158056 - 12/21/17 03:43 PM Re: Periodic SCRA searches during foreclosure happyauditor
happyauditor Offline
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happyauditor
Joined: Nov 2004
Posts: 812
NY
Thanks Andy. Much appreciated.
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