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Servicemember's Civil Relief Act ("SCRA") 101 - What You Need to Know - Updated

In this session, we will explain the six percent rule, and all of the other basic requirements of the Servicemember's Civil Relief Act ("SCRA") that you should know but didn't. We will also briefly discuss the extension of the Housing and Economic Recovery Act ("HERA") that went into effect January 1, 2011, and its effect on the SCRA. To complete the session, we will discuss HUD's notice to service members and service members' dependents for delinquent mortgage payments already in effect. To keep the session to one hour, we will not discuss the impact of the six percent rule under other regulations such as Regulation Z.

What You Will Learn:

  • What a lender's obligations are under the SCRA and HUD
  • How the six percent rule works
  • What is "active duty" and when a service member has given the right notice
  • What happens under the SCRA if litigation ensues

Target Audience:

Compliance and audit personnel, Loan Operations



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