Military Protections Notification: A Case Study

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For all BANA SCRA loans, BANA sent out a new bulletin on May 8, 2014 (SVM201405-190 Military Protections Notification).The purpose of this bulletin was to reinforce and bring further awareness regarding select Service member benefits and requirements.
BANA Requirements
RCS is required to ensure that individuals on active duty as well as members of a reserve component, the National Guard, and/or those who have recently served in the military are properly considered for protections and benefits. Before any SCRA benefits are removed, RCS validates through the DMDC site for verification that orders have expired. RCS must adhere to federal and state regulations and to BANA and/or investor/insurer requirements where applicable.
Note: RCS accepts
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