Past Due Notice and Installment Contracts (SCRA)

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Question:

I know that SCRA applies to all installment loans (i.e. not just mortgages, but auto loans as well), but I am wondering about the past due notices. The model form/language is a HUD form (HUD-92070) that I understand should be sent with all past due mortgage notices, but what about other installment contracts? Are we required to send it with all past due notices regardless of type of loan? Regardless of consumer vs. commercial?

Answer:

The requirement is that the notice be sent to all homeowners who are in default on a residential mortgage. You can learn more in HUD Mortgagee Letter 2006-28 issued 11/20/2006. There is a link to information about the form, a corrected version of the form, and a link to the referenced mortgagee letter here: http://www.bankersonline.com/tools/lender/hud_scra.html