Noncompliance With SCRA is a Reputation Killer, Attorney Says
September 26, 2011
Among the sensitivities associated with the mortgage industrys foreclosure struggles, none is more fraught with headline risk and the potential for political pressure than foreclosing on an active-duty servicemember of the U.S. military, a top industry attorney told compliance officials this week. Its bad enough when you get it wrong on a regular foreclosure action, but when you get it wrong for one of our servicemembers, thats really where youre going to have a reputation killer, Leah Getlan, assistant general counsel at Capital One, told attendees this week at the Mortgage Bankers Associations annual regulatory compliance conference in the nations capital. I have seen it from time to time, but thankfully, not that often.