Consumer Affairs Letters
Mortgage Servicing Practices Concerning Military Homeowners with Permanent Change of Station Orders
AND COMMUNITY AFFAIRS
|SUBJECT:||Mortgage Servicing Practices Concerning Military Homeowners with Permanent Change of Station Orders|
This guidance is consistent with guidance and examination procedures previously issued by the Federal Reserve, including guidance regarding working with homeowners who are financially unable to continue to meet their mortgage payments (SR Letter 07-61/CA Letter 07-01), examination procedures regarding the Servicemembers Civil Relief Act (CA Letter 11-06), and guidance and examination procedures regarding unfair or deceptive acts or practices (CA Letters 04-02 and 07-08).
Federal Reserve Banks are asked to distribute this letter and the accompanying statement to state member banks and bank holding companies, as well as to supervisory and examination staff. If you have any questions concerning this guidance, please contact Lanette Meister at (202) 452-2705.
Sandra F. Braunstein
Division of Consumer and Community Affairs