Military Lending Act

Canopy makes it easy to ensure compliance with the Service Members Civil Relief Act (SCRA) and the Military Lending Act (MLA). Early identification of active duty service members who have been approved for your lending program is key to ensuring you limit or effectively eliminate post origination operational tasks such as reissuing loans or offsetting accrued interest, saving you significant servicing time and money.

Canopy allows you to invoke an endpoint at the point of origination to identify the military status of an applicant, ensuring you are able to structure your offer to meet compliance requirements. In the event an approved applicant is not identified as active military at the point of origination, but is so at some point during or for a period after the termination of the account, Canopy does provide you with the tools to make the necessary loan modifications to ensure compliance.