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Joint Trades Letter to Capitol Hill Urging Vote for SCRA Foreclosure Protection
March 21, 2016
Dear Speaker Ryan and Minority Leader Pelosi:
Our organizations are writing to express our strong support for S.2393, the Foreclosure Relief and Extension for Servicemembers Act of 2015. We appreciate the House taking up this positive legislation which restores and extends the one-year protection from foreclosure for military personnel leaving active duty under the Servicemembers Civil Relief Act (SCRA) through 2017.
S.2393 provides time for active-duty servicemembers transitioning to civil life to address their financial issues and debt upon leaving the military. We support a continuation of this one-year uniform standard that enables the mortgage industry to provide a consistent experience for their military homeowners. S. 2393 is good public policy and will help provide the best service for military service members.
In addition to the nine financial industry trade associations listed below, S. 2393 is supported by the American Legion, Veterans of Foreign Wars (VFW), Iraq and Afghanistan Veterans of America (IAVA), and Military Officers Association of America (MOAA).
We strongly support House passage of S.2393 to restore and extend the one-year protection from foreclosure through 2017.
American Bankers Association
Association of Military Banks of America
Consumer Bankers Association
Consumer Mortgage Coalition
Housing Policy Council of the Financial Services Roundtable
Independent Community Bankers of America
Mortgage Bankers Association
National Association of Home Builders
National Association of REALTORS®