Thread Options
#2254231 - 05/21/21 07:01 PM Demand Feature - Covered MLA Loan
Believing... Offline
Gold Star
Joined: Apr 2012
Posts: 267
In the mountains
Is a demand feature prohibited under the MLA?

Return to Top
Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2254325 - 05/25/21 11:35 AM Re: Demand Feature - Covered MLA Loan Believing...
Adam Witmer Offline
Power Poster
Joined: Sep 2010
Posts: 2,562
I don't recall seeing anything in the rules that would prohibit a demand clause on a MLA covered loan, per se, but what is the purpose and context of the demand clause?

If it is a demand clause you include for everyone unrelated to military service, I can't think of a problem with that. On the other hand, if the demand clause relates specifically to military service, I would think you could have a problem.
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.

Return to Top

Moderator:  Andy_Z