Whoa! The Covered Borrower Statement is meaningless and affords the bank no safe harbor. If you want the protections you have only 2 choices, verification from the MLA site, or from a credit report. Otherwise make all the disclosures or take the risks.
The reason the statements were dropped is the DoD found the servicemembers lied because they thought they could be denied or get higher rates and fees if they were in the military.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell