Personal Banking FAQs
When are deposits available for withdrawal?
The availability of funds depends on the type of deposit you make. Please check our Funds Availability Policy for additional information
What is a wire transfer?
Wire transfers allow you to transfer funds domestically or internationally to other financial institutions for deposit to your account or someone elses.
What information do I need to complete a wire transfer?
- Full name of the person receiving the wired funds
- Address of the person receiving the wired funds
- Dollar amount of the wire
- Routing/ABA number of the receiving bank
- Account number that will receive the funds
How do I request a wire transfer?
Visit any office to request a wire transfer or businesses can authorize wire transfers through our Cash Management solution.
What is Dart Bank’s ABA/routing number?
Dart Bank’s routing number is 072410903.
What is the difference between a debit card and an ATM card?
The Dart Bank Mastercard® Debit card acts as a check and is used with your checking or money market account. It allows you to make purchases wherever Mastercard is accepted, and the funds are automatically withdrawn from your checking or money market account. The Mastercard Debit card also allows you to make cash withdrawals at ATMs. An ATM card allows you to make deposits, withdrawals, transfers, and balance inquiries at an ATM.
Where are the ABA routing and account numbers on my checks?
To set up direct deposit or automatic payment, to send or receive a wire transfer, or to reorder checks, you will need Dart Bank’s ABA number and your account number.
Are my deposit accounts FDIC insured?
FDIC insurance covers individual customer accounts up to $250,000. For information on coverage available, please visit the official FDIC website at www.fdic.gov
My Debit card was lost or stolen. Now what?
In order to protect yourself from possible fraud, please take the following actions:
- To report a lost or stolen ATM or Debit Card, 24 hours a day, 7 days a week, please call 1-866-546-8273. If during regular business hours you can call (517)676-3661.
- We will place an immediate restriction on the card so it cannot be used and we will also order you a new card. ATM cards are available at your local branch and can be issued and activated during your visit. A fee may be charged for this service.
- Review your recent transactions to ensure no fraudulent activity has occurred. It may be necessary to file a fraud dispute.
Can I view my account information at any time?
With online and mobile banking, you can view your account information 24 hours a day, seven days a week wherever you have Internet access.
What is online banking?
Online banking lets you view your account and consolidate and pay your bills in one place. With Dart Bank’s online banking, you can:
- View account details and balances for your checking, savings, CD, money market, IRA, and selected loan accounts online
- Transfer funds between your Dart Bank accounts or from other financial institutions and make person to person payments.
- Organize all your bills in one place
- Pay multiple bills quickly from the same screen
- Receive email notices when your ebills arrive
- View 12 months of statements
- View check images
Can I get information about my account by telephone?
DARTdirect is our free 24-hour Telephone banking to obtain information regarding your account. You have access 24 hours a day, 365 days per year. By calling (517) 676-1129, you can:
- Get your account balance
- Review checks paid
- Check debits and credits
- Transfer funds
What is an ACH and how does it benefit me?
An ACH (Automated Clearing House) transaction is a highly reliable and efficient electronic funds transfer system from your checking or savings account at another financial institution to your Dart Bank account or from your Dart Bank account to an account at another financial institution. Some of your regular household bills (for example, your auto insurance bill) can be set up as ACH withdrawals as well. ACH transactions are a quick, easy way to transfer funds into your account without sending a check.
Can I use my ATM/Debit card outside of the U.S.?
You can use your ATM/Debit card in most countries outside of the U.S. where Mastercard is accepted. However, before you travel please inform us of the potential use of your card internationally, as this feature needs to be activated, based on the countries you are going to. You can reach Dart Bank Customer Service at (517) 676-3661 during regular business hours.
What is a CVV code?
The CVV is a three-digit number located on the back of your card in the signature line. You may be asked to provide your CVV or security code when making a telephone or online purchase. Merchants may ask for this code to protect against unauthorized purchasers using your card number without the card.
LOAN QUESTIONS
Where should I send my loan payment if I do not have a coupon or bill?
Payments without a coupon or statement should be mailed to:
Dart Bank
P.O. Box 40
Mason, MI 48854
*Please include your loan number on the check
How can I sign up for E-Statements?
Email your request to banking@dartbank.com.
How can I sign up for automatic payments?
Email your request to banking@dartbank.com.
Why was my mortgage sold to another lending institution?
The transfer and sale of mortgages is common in the mortgage industry. It fulfills the need of investors and makes funds available for other homebuyers.
What fees are associated with loan servicing?
These fees are subject to applicable law, investor guidelines and the terms of your loan, and may possibly change. This is
provided for informational purposes only and is not a complete list of fees.
| Fee | Amount | Description |
| Line of Credit Annual Fee | $ 50.00 | Charge for Home Equity Line of Credit (annually). |
| Over the Limit (Line of Credit) | $ 50.00 | Charge for when your loan balance exceeds your credit line limit. |
| Amortization Schedule | $ 10.00 | Charge for preparing a customized Amortization Schedule |
| Payoff quote by fax/email | $ 25.00 | Charge for delivering a payoff statement via fax or email. (Per request) |
| Recast/Reamortization | $ 250.00 | Charge for adjusting the monthly payment based on a large payment made to principal. |
| Subordination | $ 250.00 | Charge for reviewing and processing subordination requests. |
| Late Payment | Varies based on your loan documents. | Charge for when a payment is made after the grace period, as defined on the Note. |
| Online payment | Varies based on the source and amount of your payment. | Charge for making a payment through our website using your debit/credit card or checking/savings account. |
| Insufficient Funds (NSF) | $31.00 unless disclosed otherwise | Charge for when a payment is returned unpaid. |
If I want to pay additional funds to the principal balance each month, how can I determine how quickly my loan will be paid in full?
An amortization schedule can be prepared that includes an extra payment amount that you choose added to the monthly principal and interest payment.
If you would like a copy of the amortization schedule, please send us a written request (along with a $10 fee). The request should include your loan number, phone number, and the amount of additional principal to be paid each month.
Please send your check (made payable to Dart Bank) and request to:
Dart Bank
Attn: Loan Servicing
P.O. Box 40
Mason, MI 48854
Can I transfer my loan in to a living trust?
Yes. It must be a revocable living trust, the property must be owner-occupied, and borrowers must be the beneficiary. Not meeting these requirements could cause the “due on sale” option to be exercised. Once the property is transferred into a revocable living trust, please fax to (517) 676-6759 or mail a copy of the Certificate of Trust and the Recorded Deed to:
Dart Bank
Attn: Loan Servicing
P.O. Box 40
Mason, MI 48854
I am recently divorced and want to remove my former spouse from the mortgage. How can I do this?
You will need to refinance your mortgage. Mortgage Bankers are available to assist you with your refinancing needs. Please visit https://dart.bank/mortgage-team/ or call 517-676-3661.
My credit report indicates a delinquent reporting on my loan. Why did this happen and can I get it removed?
Your mortgage will be reported as delinquent any time a payment is made after the last business day of the month. It is possible that an error occurred with the processing of your payment and it may have been misapplied.
The Loan Servicing department will complete a credit correction if the payment was determined to be on time. If you believe that your payment should not have been reported as delinquent, please email us at loanservicing@dartbank.com or call 517-676-3661 ext. 4491.
LOANPAY EXPRESS
What is LOANPAY EXPRESS and how does it work?
LOANPAY EXPRESS allows you to make your loan payment via credit or debit card, or from a deposit account from another institution. You can access this from our website by choosing the red “make payment” button. There is a cost associated with this service.
How do I make a one-time payment on the LOANPAY EXPRESS website?
Once you sign in, the website will walk you through entering your loan number, setting up a password, and validating with the last four digits of the primary loan holder’s social security number. After selecting your method and date, you have the option of making a one-time payment, or monthly. Specific posting hours and dates along with the pricing are located on the LOANPAY EXPRESS site.
Can I set up a recurring payment?
Once you sign in, the website will walk you through entering your loan number, setting up a password, and validating with the last four digits of the primary loan holder’s social security number. After selecting your method and date, you have the option of making a one-time payment, or monthly. Specific posting hours and dates along with the pricing are located on the LOANPAY EXPRESS site.
Do I need to update LOANPAY EXPRESS if my monthly payment changes?
If you set your payment up as a monthly recurring event, you will need to update that amount if your payment amount changes due to a rate change on an adjustable rate product, or an escrow analysis payment change, modification, etc.
LOAN PAYMENTS AND PAYOFFS
How do I order a payoff?
You may obtain a payoff letter by calling our Loan Servicing department at 517-676-3661 ext. 4491, or emailing loanservicing@dartbank.com.
Payoffs ordered by banking institutes, title companies or mortgage companies on your behalf can be faxed along with your written authorization to 517-676-6759 or emailing loanservicing@dartbank.com.
When will I receive confirmation that my loan is paid in full?
A mortgage discharge will be prepared and mailed, or electronically delivered, to your county for recording within 30 days of the paid in full date. Termination Statements will be mailed out after 10 business days of payoff. To request a copy of your mortgage discharge or a paid in full letter, please call Loan Servicing at 517-676-3661 extension 4491. Representatives are available Monday-Friday, 8:30 a.m. – 5 p.m.
When will I receive my payoff overpayment and/or escrow refund?
Payoff overpayments and/or escrow refunds will be mailed after 10 business days of the paid in full date. To update your mailing address, please call Loan Servicing at 517-676-3661 ext. 4491. Representatives are available Monday-Friday, 8:30 a.m. – 5 p.m. In the event of divorce, the refund will not be reissued in only one borrower’s name. Both borrowers should endorse the check and disburse the proceeds according to their separation agreement. In the event of death, where there are two borrowers and only one is deceased, the surviving borrower should present the check and death certificate of the deceased borrower to their financial institution for payment. In the event of death, where there is only one borrower or two borrowers but they are both deceased, the successor-in-interest may request the refund be reissued in their name by faxing their request to 517-676-6759. The request must include the successor-in-interests contact information, copy of the borrower(s) death certificate(s) and Will, Administration, Testament and/or other legal documentation.
Can I make bi-weekly mortgage payments?
Dart Bank does not currently offer a Bi-weekly mortgage product. Our amortized Mortgages require the receipt of full payment before applying to the loan. If you make a partial payment, it will sit in a suspense account until the remainder of the payment is received. There is no benefit to your loan to make bi-weekly payments. Making any additional principal amounts will reduce the interest portion of future payments.
Can I prepay my mortgage (pay ahead)?
Mortgages require a payment to be made each month. The order of application as described in your mortgage are interest, principal, late charges (if applicable), and any additional amount applied to principal. Unlike a simple interest loan, your due date will not advance for additional amounts made.
TAXES
How do I notify Dart Bank if I’ve been approved for a Homestead Exemption?
- The Homestead Exemption must be approved by your tax office.
- The approval letter must be submitted to Dart Bank and contain the new tax amount and effective date. If your tax office has approved you for a Homestead Exemption, you should submit the approval letter to Dart Bank, including the new tax amount and effective date. Please note that Dart Bank cannot accept property value information. We must have the tax amount in order to make adjustments to your account.
- Once the documentation is received, the Loan Servicing department will adjust the tax amounts and, if applicable, request an escrow analysis (only if the new tax amount is lesser or greater by $500 or more).
Mailing Address:
Dart Bank
Loan Servicing
P.O. Box 40
Mason, MI 48854
email: escrowservicing@dartbank.com
fax:517-676-6759
Do I need to send you my tax bill?
Dart Bank’s tax servicing company obtains all tax bills for payment. If you were to receive a delinquent or supplemental tax bill, you may email to escrowservicing@dartbank.com, fax to 517-676-6759, or mail to Dart Bank P.O. Box 40 Mason MI 48854.
How do I notify you of an exemption or reduction in my tax amounts?
You may fax or mail the updated tax documentation to Dart Bank’s Loan Servicing department, including the new tax amount (not property value), effective date, and loan number. We cannot change the tax amounts and run a new analysis until the effective date of the exemption, or if the taxes have already been paid and the next due date supports the change date.
Mailing Address:
Dart Bank
Loan Servicing
P.O. Box 40
Mason, MI 48854
Fax: (517) 676-6759
If I have any other questions about my taxes, who do I contact?
Contact the Loan Servicing Department at 517-676-3661 ext. 4491
INSURANCE
I have questions regarding my insurance and need to speak with someone.
Please call Loan Servicing at 517-676-3661 ext. 4491 Monday-Friday 8:30 a.m. – 5 p.m. ET to discuss your insurance or determine why you are receiving notices from your insurance company.
I have received an insurance bill or cancellation notice and I have an escrow account with Dart Bank. What should I do?
Please call Loan Servicing at 517-676-3661 ext. 4491 Monday-Friday 8:30 a.m. – 5 p.m. ET to discuss your insurance or determine why you are receiving notices from your insurance company.
I have changed insurance companies. Where do I mail my updated insurance information?
You or your agent may fax the new insurance policy to us at 517-676-6759, email to escrowservicing@dartbank.com, or mail to Dart Bank P.O. Box 40 Mason, MI 48854. Please include your loan number, indicate what company and agent you are changing to, and that you authorize us to accept the new coverage.
I have received a check from my insurance company for damages to my home, but Dart Bank is a payee on the check. How do I get the check endorsed?
After filing a claim with your insurance company, you will need to contact the Loan Servicing Dept.at 517-676-3661 ext. 4491. At minimum, we will need the claim check and the adjustor’s report for claims under $10,000. Have all parties endorse the check prior to sending it to Dart Bank, Attn: Loan Servicing, P.O. Box 40, Mason, MI 48854. If the total claim is more than $10,000, additionally we will need a signed and accepted contractor’s proposal and W-9 from the contractor. We will contact you to go thru the process and let you know of any additional items needed.
Our goal, along with yours, is to get your home restored as quickly as possible.
ESCROW ANALYSIS
What is an escrow account?
An escrow account is a fund set up on the borrower’s behalf to pay any property taxes, insurance, and/or mortgage insurance. The funds are held in a separate account, and the money is never used by the bank for anything other than to pay your taxes and insurance. An escrow account provides a better way to budget property tax and insurance payments by making smaller monthly deposits instead of having to come up with a lump sum when the bills are received. It ensures that all taxes and insurance are paid on time.
How exactly does escrow analysis work?
- We add up the estimated amounts scheduled to be paid from your account and then divide the total by 12 months to determine the monthly collection amount.
- Then we analyze the projected balance for each month based on the starting balance, the monthly escrow collection amount, and the bills we anticipate paying.
- Finally, we find the month with the lowest projected balance. If this low point is less than zero, the account has a deficiency: if it is less than the allowed cushion amount, the account has a shortage; and if it is greater than the cushion amount, the account has a surplus.
How often will my escrow account be analyzed?
Escrow accounts are analyzed on an annual basis. This means that your monthly payment may change annually.
Why are my tax and/or insurance amounts always projected?
We have to project your tax and/or insurance premiums based on the amounts you paid in the previous year, unless we received official notice of an amount change for the upcoming year from a taxing authority or insurance provider.
What is an escrow cushion?
An escrow cushion is an additional balance in the escrow account ensuring that there is enough money in the account to cover expenses for the property. This is the lowest that the balance in your escrow account should ever fall, assuming no unexpected increases or additional payments occurred during the year.
Why does Dart Bank require a two month cushion?
The escrow cushion kept in the account helps to make sure there are enough funds for the bank to pay taxes and insurance as they come due. There is always the possibility of changes in the insurance premium or higher tax amounts than what was predicted throughout the year. Having a cushion reduces the impact of any shortages that occur when the escrow payments increase, due to increases in the taxes and/or insurance policies.
Why does my escrow payment change every year?
Property taxes and homeowner’s insurance amounts fluctuate every year; therefore, escrow payments need to be adjusted either up or down to accommodate any unexpected changes. This could be an increase or decrease based on the circumstances of the previous year.
Why did my property taxes not increase right away after I purchased and/or built my home?
In many states, property taxes are reassessed the year after a home is purchased or built. This means that your property taxes may go up significantly in the second year that you own the home. If you have had a house built, more than likely the initial taxes will be based on the value of the land/unimproved lot.
What is an escrow surplus?
If your taxes and/or insurance costs were lower than expected, your account may have a surplus. If the surplus is $50.00 or more, a surplus check will be included with your annual escrow analysis. For a surplus less than $50.00 the funds will remain in your escrow account. If you received a surplus check, depending on your individual circumstances, you may want to consider redepositing these funds into your escrow account if you feel that you may have a shortage next year. For example:
- If your property was a new construction and has not yet been fully assessed, you will have a shortage next year once it has been reassessed by your taxing municipality.
- If you purchased a property that is not your primary residence, your taxes may increase next year due to the fact that it will be reassessed as a non-homestead property, resulting in higher taxes.
What is an escrow shortage?
A shortage occurs when the escrow account balance at its projected lowest point for the next 12 months is below the required minimum balance. This required balance is typically equal to two months of escrow payments, this is the cushion. It helps to protect you, so you have enough funds in the account to cover an unexpected tax and/or insurance increase.
What is the difference between a Surplus, a Shortage, or a Deficiency?
A surplus is the portion of the projected escrow balance that is greater than the cushion amount, a shortage is the amount by which the escrow balance falls short of the cushion amount, and a deficiency is the amount by which the balance goes below zero. When the account has a deficiency, it will also have a shortage.
How can I have a shortage?
There are a few reasons why you might not have enough money in your escrow account to meet the minimum balance:
- Your property taxes and/or insurance premiums increased.
- Your taxes were reassessed.
- Your insurance provider changed.
- Your due date of your property taxes and/or insurance premiums changed.
- You made fewer escrow payments in to your account than expected.
What are my options for paying my escrow shortage?
- Option 1: Pay the full shortage now. (Please note, if your tax and/or insurance expenses have increased, your monthly escrow payment will still increase, even if you pay all of your shortage. Your escrow payment will never be less than 1/12 of your total anticipated annual disbursements.) If you choose to pay the shortage, you may send or bring in the funds and specify that they are for your escrow shortage.
- Option 2: Pay nothing and we will spread the shortage amount evenly across next year’s payments.
Why is my escrow payment increasing even though I paid my shortage?
An escrow shortage is the result of differences that occurred in the past, when the funds in your escrow account were less than what was required to cover the actual payments from your account. The escrow portion of your new monthly mortgage payment is based on projected activity for the coming year. Even if you pay your shortage, your payment can increase if your annual property tax or annual insurance premium increases.
Who should I contact if my property taxes increased?
If you have questions about an increase in your property taxes, please contact your local taxing authority; they are the best source for information to explain any changes in your tax bill.
Who should I contact if my homeowner’s insurance premium increased?
If you have questions about an increase in your homeowner’s insurance premium, please contact your insurance company or their local agent; they are the best source for information to explain any changes in your annual premium amount.
PMI – PRIVATE MORTGAGE INSURANCE
What is PMI?
PMI is extra insurance that lenders require borrowers to pay if the borrower puts less than 20% of the home’s value in a down payment. This protects lenders against loss in the unlikely event that a borrower defaults on their mortgage loan.
How do I know if I have PMI?
You can find out if you have PMI by reviewing your closing documents.
How do I calculate LTV?
To find your loan to value (LTV) ratio, divide your current principal balance by the lesser of the original appraisal amount of your home or the purchase price.
When will PMI be automatically terminated?
PMI will automatically terminate on the date that the principal balance of your loan is scheduled to reach 78% of the original value of the property. If your loan payments are not current when your loan reaches the termination date, your PMI will automatically, terminate on the first day of the first month after the date it becomes current. A notice will be sent to the mailing address that we have on record for you when PMI coverage is terminated, and no additional action will be required of you for termination.
When can I request PMI be canceled?
You can request the cancellation of your PMI once the scheduled principal balance or actual principal balance of your loan reaches 80% of the original value of the property if all the below requirements are met.
- You must be current on your mortgage payments.
- You must have a good payment history. A good payment history means:
- No payments 30 days past due in the last 12 months.
- No payments 60 days past due in the last 24 months.
- Your current property value must be at least equal to its original value and the equity in the property is unencumbered by a subordinate lien.
- Your mortgage loan must meet the applicable loan to value (LTV) ratio.
If your loan was sold to an investor such as Freddie Mac or Federal Home Loan bank, the guidelines may be different. You can call our servicing department at 517-676-3661 ext. 4491 for specific investor requirements.
Can I get a new appraisal to show that I have equity in my home?
Yes, we can order a new appraisal to obtain the current value. This will be an expense to you, as the borrower. Prior to doing so, however, we will evaluate your particular situation to determine if paying for a new appraisal is in your best interest and if it will assist in possible PMI removal.
What happens once PMI is removed?
We will notify you in writing that PMI coverage is being removed and the effective date of the cancellation along with your new monthly payment amount.
1098 – YEAR END MORTGAGE INTEREST
What is a 1098 interest statement?
If you paid more than $600 in Mortgage interest the past year, you may receive a 1098 tax form depending on account type and account status. These forms will be mailed out prior to January 31st. You may need this information for tax preparation.
Why does my 1098 show that no taxes were disbursed?
Your 1098 may show that no taxes were disbursed for one of the following reasons: the taxes were paid at closing, the taxes were not paid from the escrow account in the year the 1098 is reporting on, or the loan was paid off before the taxes were due.
I made 14 payments. Why are only 13 payments listed on my 1098 statement?
Only 13 months of interest can be claimed in any given year – January through January. Sometimes a borrower will have made his or her January payment in December of the previous year. The January interest is claimable, because interest is in arrears (the January payment includes December’s interest).
Why isn’t the co-borrower’s social security number on the 1098 statement?
The IRS only requires the social security number of the primary borrower on the 1098. Please note that we are unable to change the social security number on 1098 statements.
When are year-end 1098 interest statements mailed out?
Each year, Dart Bank will mail mortgage interest statement, form 1098 on active or inactive accounts by January 31.
I paid points at closing. Why aren’t they indicated on my 1098 statement?
The points paid at closing may not appear on your 1098 statement if the loan was a refinance or not for your principal residence. If you have further questions about how to claim points, please speak with your tax adviser or attorney.
I made mortgage payments this year, why didn’t I get a 1098?
A Mortgage Interest Statement, Form 1098 is filed separately for each Mortgage you paid $600 or more in interest and points over the year. A 1098 will not be produced on amounts under $600. 1098’s apply to individuals and sole proprietor.
Why does my 1098 interest statement show more interest paid that my payment history?
You may have made January’s payment within the year giving you thirteen months of interest. Additionally, late charges paid within the year are treated as interest on your 1098.
ADJUSTABLE RATE LOANS
When will my interest rate change?
Rate change information and all adjustable rate mortgage (ARM) parameters can be found on your adjustable rate note. A copy of this document should have been provided in your closing package. If you cannot locate this document or your closing package, please call us at (517) 676-3661.
When will I receive notification of the new interest rate and payment amount?
You will receive notification approximately 30 to 45 days prior to the effective date of both the new interest rate and payment amount.
How can I get a fixed interest rate?
You will need to refinance to get a fixed interest rate. Please contact your mortgage banker for more information.
PARTIAL RELEASES
How do I release or sell a portion of my property?
Please contact us at (517) 676-3661 to speak with a representative regarding your particular situation.
How do I obtain a subordination agreement?
Please contact us at (517) 676-3661 or email loanservicing@dartbank.com for our subordination requirements.
Can I rent out my house or sell it on land contract, while I have a mortgage with Dart Bank?
Selling your house on land contract violates the terms of your mortgage and can invoke the “due on sale clause” causing the acceleration. Please contact Loan Servicing 517-676-3661 ext. 4491 if you plan to rent out your home.
RE-AMORTIZATIONS
If I make a large principal payment, can I have my monthly payment amount reduced?
A re-amortization/re-cast due to a large principal payment may be possible on certain loan types. You may email a request to loanservicing@dartbank.com or contact our Loan Servicing department at 517-676-3661 ext. 4491 for a review of your loan and specific investor guidelines to determine eligibility. Minimum pay-down and a processing fee apply.
SERVICE-MEMBERS CIVIL RELIEF ACT
What is the Service-members Civil Relief Act? (SCRA)
The SCRA, enacted in 2003 and amended several times since then, revised and expanded the Soldiers’ and Sailors’ Civil Relief Act of 1940, a law designed to ease financial burdens on service members during periods of military service. The SCRA enables service members to devote their time and attention to the defense needs of the Nation by providing protections related to such things as installment contracts, credit card interest rates, automobile repossessions, mortgage interest rates, mortgage foreclosures, civil judicial proceedings, plus many more.
Who is eligible for SCRA protection?
The provisions of the Act apply to active duty military personnel who had a mortgage obligation prior to enlistment or prior to being ordered to active duty. This includes members of the Army, Navy, Marine Corps, Air Force, Coast Guard; commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration who are engaged in active service; reservists ordered to report for military service; persons ordered to report for induction under the Military Selective Service Act; and guardsmen called to active service for more than 30 consecutive days. In limited situations, dependents of service members are also entitled to protections.
Who is not eligible for SCRA protection?
Service members who incurred their obligation while on active duty, those serving in the National Guard for a period of less than 30 consecutive days, Department of Defense civilians, contract employees, and military retirees are not eligible for protection
What benefits does eligibility for SCRA protection provide?
- Reduction of your interest rate to 6% (if applicable)
- Waiver of most fees
- Protection from foreclosure proceedings
- Continued protection for 12 months after discharge
How do I request SCRA protection?
In order for us to determine how we may be able to apply the provisions of the SCRA to your account, we must obtain proof of military service.
If you are a customer who is in—or about to be in—active duty status, you may qualify. Please send copies of one or more of the following documents so we can verify your status.
- Orders calling you to active duty or deployment. These should include the service member’s name and duration of active duty.
- A letter from a Commanding Officer stating that you are or were in active duty. This should include the service member’s name and duration of active duty.
- A copy of your recent Leave and Earning Statement (LES). This should include the service member’s name and duration of active duty.
- Permanent Change of Station orders. PCS orders that include original orders or dates of active duty will be accepted.
SUCCESSORS IN INTEREST
What is a successor in interest?
A successor in interest is a person to whom full ownership or an ownership interest in a property securing a mortgage loan is transferred.
If the transfer falls into one of the following categories the “new owner” may have certain rights with respect to the mortgage loan as a Successor in Interest:
- Transfers by devise (will), descent or operation of law on the death of a joint tenant or tenant by the entirety;
- Transfer to a relative resulting from the death of a borrower;
- Transfer where the spouse or children of the borrower become an owner of the property;
- Transfers to a spouse resulting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement;
- Transfers into an inter vivos trust in which the borrower is and remains the beneficiary.
I am a successor in interest. What is my next step?
If you are a successor in interest, or you think you might be, please email loanservicing@dartbank.com or call 517-676-3661 extension 4491 and our Loan Servicing associates can help you.