Servicemember Issues: The Military Lending Act and SCRA Webinar
Servicemember issues have been in the news for a few years now. Financial Institutions have been taking great care not to treat servicemembers and their family members less favorably, due to the great compliance and reputation risk problems this area presents. But what exactly are the rules? – see complete description below.
Webinar Description and Audience
Servicemember issues have been in the news for a few years now. Financial Institutions have been taking great care not to treat servicemembers and their family members less favorably, due to the great compliance and reputation risk problems this area presents. But what exactly are the rules?
The Servicemembers Civil Relief Act (SCRA) is the most well-known, of course. But there are other considerations, such as fair lending and even UDAAP. And the new Military Lending Act (MLA) regulations kick in this coming October. These rules will introduce significant new requirements for ALL lenders, whether they know it or not yet. Lenders that believe they don’t have issues to deal with for military customers may unfortunately be taken by surprise.
Does your institution know the rules, and what to do and not do? This webinar is designed to address all these issues, and especially the new MLA rules, so you can be prepared. Know what it means to reduce the interest rate on active duty borrowers to 6%, as well as various other protections against foreclosure and other areas. Know how to determine whether you have a “covered borrower” under the MLA and SCRA, as the standards are different.
We’ll also talk about some of the more-recent enforcement actions taken against other institutions, to learn from others’ mistakes.
- MLA rules – what are they all about?
- Verifying status under the MLA and SCRA
- What do we have to do when someone is covered?
- Caps and rate restrictions under the rules
- Principal SCRA protections, including the interest rate reduction provision
- What does active duty mean? How do you know for sure who is covered? Plus, who is NOT covered?
- Dealing with the DMDC website to confirm status
- Permanent Change of Station (PCS) guidance
- When does coverage end? Does it?
- Foreclosure and default judgment protections
- HUD Form 92070 – what it is and when to provide it
- Protection against eviction
- Steps to take now
Who Should Attend?
Anyone in the institution that might encounter Servicemembers and Servicemember accounts. This includes frontline staff, managers, auditors, lenders, and underwriters.
Webinar Viewing Options
INCLUDES SEVEN DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
SIX MONTH ONDEMAND VIDEO RECORDING:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
CD-ROM VIDEO RECORDING:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.