The Bank is currently providing the Notice regarding Homeownership Counseling and the SCRA Notice each month with its home equity line statements, and the SCRA notice each month on consumer 1-4 family 1st DOT, Consumer 1-4 family 2nd DOT, and Non-Owner Occupied 1-4 family. The Bank asks for guidance in order to improve efficiency in this area, including information regarding disclosure type, timing and frequency.
The Homeownership Counseling Notice and SCRA Notice must be sent within 45 days of the homeowner borrower becoming delinquent, unless the loan is brought current within that period. If the notice is provided and the loan is brought current but then becomes delinquent again, the notice must be provided again.
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