Set and manage SCRA terms

The Servicemembers Civil Relief Act (SCRA) provides interest rate protections for active-duty military members. Use Set SCRA terms to create an SCRA plan that caps the interest rate and optionally waives fees during the service period. Use Manage SCRA terms to update the start or end date of an existing plan.

Availability: All clients Required permissions: loan:paymentplan.scra.create (to set); loan:paymentplan.scra.update (to manage) Loan status: active Loan types: All

• When an SCRA period is applied, the system does not automatically prevent future fees from being charged. To waive fees during the SCRA period, you may need to use the Charge and waive fees tool separately or create a snooze on the case.
• SCRA plans cannot overlap with other active SCRA plans on the same loan. The system validates dates against existing plans and displays an error if an overlap is detected.
• For both installment and Line of Credit loans, the tool is accessed from the Hardship section of the Loan Options menu.

1. From the agent-view Borrower Portal, open the loan and select Loan options > Set SCRA terms.
2. Enter the New rate (annual) — the reduced interest rate for the SCRA period (typically 6% per the SCRA statute).
3. Select the Start date for when SCRA benefits begin.
4. Select the End date:
   • Select End of loan to apply the rate for the remaining life of the loan.
   • Select Custom end date and choose a specific date.
5. Optionally select Waive all fees to cancel fees charged during the SCRA period.
6. Optionally select Send notice to borrower to email the borrower.
7. If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
8. Select Set installment SCRA terms (for installment loans) or Set line of credit SCRA terms (for LOC loans).
9. Confirm the changes in the confirmation dialog.

The SCRA terms take effect at the start date. If the start date is in the past, the system replays the loan.

Update the start or end date of an existing SCRA plan.

1. From the agent-view Borrower Portal, open the loan and select Loan options > Manage SCRA terms.
2. Select the SCRA interest rate plan to update from the dropdown. If no active SCRA plans exist, a message indicates that there are no plans to manage.
3. Update the Start date as needed.
4. Update the End date: select End of loan or Custom end date with a specific date.
5. Optionally select Send notice to borrower (selected by default).
6. If your company requires a Case ID, select a case from the Case ID dropdown.
7. Select Update installment SCRA terms (for installment loans) or Update line of credit SCRA terms (for LOC loans).
8. Confirm the changes in the confirmation dialog.

The system validates that the updated dates do not overlap with other active SCRA plans. If an overlap is detected, an error message is displayed and you must adjust the dates.

Important: When updating an SCRA plan, the system determines whether to cancel or revive fees based on the original plan's Waive all fees setting. For example, if fees were waived and the end date is extended, fees in the new extended period are also canceled. If fees were not waived originally, extending the plan does not cancel fees in the new period.

• Agent-only loan tools
• Set and manage rate caps
• Set and remove interest rates
• Charge and waive fees