Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
SCRA § 303 sunset dates extended
The president has signed into law the National Defense Authorization Act for Fiscal Year 2018 (H.R. 2810). Section 557 of the Act extends for two years, until December 31, 2019, the "sunset" on the temporary change of "90 days" in § 303(b) and (c) of the Servicemembers Civil Relief Act (50 U.S.C. § 3953) to "one year." This, of course, means that the wording of the current HUD-SCRA delinquency notice for past-due mortgage payments will remain correct for the next two years, and the current notices can be used past the 12/31/2017 "expiration date." And, of course, servicemembers remain entitled to the protections in § 303 during periods of active duty and for one year thereafter.