Demand Feature - Covered MLA Loan

Posted By: Believing...

Demand Feature - Covered MLA Loan - 05/21/21 07:01 PM

Is a demand feature prohibited under the MLA?
Posted By: Adam Witmer

Re: Demand Feature - Covered MLA Loan - 05/25/21 11:35 AM

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.