Alogent recently created a new spreadsheet that helps bankers calculate the cost of their current exception tracking workflows.
Modern Payments Infrastructure: 1 Platform, 1 API, All Channels
Is it time for a solution refresh? Legacy processes can’t always keep up. Ask yourself these questions to assess your payments modernization goals and explore the benefits of a single platform for all Day 1 and Day 2 processing.
Servicemembers Civil Relief Act Notice
UPDATED 05/04/2022 - We have updated the HUD-92070 to reflect changes to the form. HUD's PDF version is here. Changes from the prior version include only the expiration date.
This notice updates the previous version issued under Mortgagee Letter 2006-28. This Mortgagee Letter refers to the requirements and the prior form.
Don't let the name fool you, this form should be sent to all homeowners whether they are in the service or not, when they are in default. It is impossible for you to know if your borrowers are protected under the SCRA at an exact moment as records may be outdated. This notice must be sent within 45 days of becoming delinquent unless the loan has since paid current.
What is different in the BOL form is, 1) this is a Word version for editing. Text in red on our version allows entering the lenders name and address which is difficult to do on the HUD PDF version but is required. 2) We have hyphenated the citation at the top as (50 USC §§ 3901-4043), which is correct. And 3) the uppermost bullet lists the branches of the U.S. military but the HUD version does not include the Space Force. Servicemembers, and their spouses and dependents of the USSF are protected under the SCRA.
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