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Military Lending – Banks Keep Getting it Wrong

Recorded on December 12, 2017

Whether you like it or not your bank has a military mission because the servicemembers who bank with you are as good as a protected class. When making a covered loan, you need to know who is in the military or a qualified dependent. What’s a covered loan? You can’t avoid them anymore, you just CYA and march on. And banks just can’t seem to keep the SCRA straight. In this webinar, Andy will discuss the rules and how to comply with them to avoid violations of the law.

While many military lending enforcement actions are not against banks like yours, your examiners still want to see complete compliance. That means clearly understanding the compliance requirements and having effective lines of communication between affected areas in your institution, as well as well-designed policies, procedures, training and execution.
If you don’t have a complete understanding of the protections servicemembers have, this webinar is designed for you.

The MLA and SCRA protections extend beyond servicemembers, and in some cases beyond loans, reaching deposit accounts and even safe deposit boxes. The MLA affects you before you make a loan, while the SCRA largely impacts your existing relationships. We will discuss specific protections and early warning signals of problems that need to be addressed. You have an opportunity to learn from the mistakes of others.

You want to protect your customers, you also want to avoid problems with examiners who will want to discuss your policies and procedures for addressing servicemembers’ rights. You need to understand what your procedures must address, who must be trained, how to respond to inquiries, and more.

In this webinar we will review existing and new rules:

  • When the MLA applies
  • Why the SCRA exists, with practical examples
  • How the new MLA and SCRA protect servicemembers and dependents
  • How to properly identify covered borrowers and dependents
  • Which sections of the SCRA and MLA affect your bank the most
  • What lessons can be learned from thousands of complaints and enforcement actions
  • Notice requirements from HUD
  • What you must do and what you cannot do on covered transactions
  • Why complaints are early warning signals of things your examiner will review
  • The confusion over the HUD - SCRA mortgage form
  • And much more

If you have a customer in the military or one who might join, if you have questions on when they can request an interest rate change or delay a foreclosure, join Andy for this two-hour webinar.

Who Should Attend:

  • Chief lending officer
  • Compliance officer
  • Internal auditor
  • Legal counsel
  • Loan officer
  • Mortgage loan officer
  • Risk management officer
  • Sr management
Webinar Reviews: 

Very detailed and good handouts - BeverlyLeigh

good - Andrea

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