Category: Compliance for Banks & Lenders - Page: 6

5 Mortgage Servicers To Pay Millions For SCRA Violation

Close to 1,000 servicemembers will be receiving portions of a rather large settlement reached between the U.S. government and several mortgage servicers regarding their SCRA violation.

U.S. Justice Department announced that it has reached a settlement with five mortgage servicing …

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DoD Fights SCRA Lender Abuse With Allotment Rules

In response to media reports of active duty servicemember abuse by predatory lenders, the Department of Defense has announced a new policy designed to minimize the effects of SCRA lender abuse.

This week, the Department of Defense announced that, starting …

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What are the SCRA Lending Standards?

Editor’s Note:  Since the time this blog article was published, the time period of protections after termination of active duty has changed over the years.  See Section 533 of the SCRA, particularly, Footnote 9.

As major mortgage lenders near …

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