While most service members are aware of these protections, they don’t always know what needs to be done to put the benefits of their service to use. In the past, the process for putting the SCRA’s protections in place was a bit complicated; it was sometimes unclear what needed to be done to have them established.
In August, we partnered with the federal government to begin proactively notifying our clients to ensure they’re financially protected when they’re called into active duty.
Every month, we’re comparing our list of servicing clients against the Department of Defense’s database to identify the people who have recently become active duty. That means active-duty military members with a mortgage through us won’t have to bend over backwards to activate the benefits entitled to them under the SCRA.
Only a handful of mortgage servicers in the country agreed to participate because this partnership is not mandatory. But even though it’s not required for servicers to participate, we think it’s the right thing to do.
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