Steadworth Servicemembers Civil Relief Act (SCRA) Policy

I. Introduction and Purpose

Steadworth, LLC ("Steadworth") is committed to supporting members of the U.S. Armed Forces and their dependents by complying with the Servicemembers Civil Relief Act ("SCRA"). This Policy outlines Steadworth's procedures for providing SCRA benefits and protections to eligible individuals.

II. Policy Statement

Steadworth will comply with all applicable provisions of the SCRA, including:

• Protecting against default judgments.

• Complying with credit reporting requirements for servicemembers.
  
  

III. Scope

This Policy applies to all Steadworth employees, officers, directors, and agents involved in offering or extending the Home Wealth Share Program ("Program") to covered borrowers.

IV. Definitions

• Covered Borrower: An active duty service member, their spouse, or dependents.

• Active Duty: Service in the uniformed services as defined by the SCRA.

• Military Annual Percentage Rate (MAPR): The cost of consumer credit expressed as an annual rate, including all applicable fees and charges.
  
  

V. SCRA Benefits and Protections

A. Default Judgment Protection:

• Steadworth will verify the military status of all defendants before seeking a default judgment.

• If a defendant is on active duty, Steadworth will comply with the SCRA's requirements for obtaining a default judgment.
  
  

B. Credit Reporting:

• Steadworth will comply with the SCRA's credit reporting requirements for servicemembers.

• A servicemember's request for or receipt of SCRA benefits will not negatively impact their credit report or creditworthiness.
  
  

VI. Responsibilities

A. Compliance Officer:

• The Compliance Officer is responsible for overseeing and implementing this Policy.

• This includes developing and maintaining procedures, providing training to employees, and monitoring compliance with the SCRA.
  
  

B. All Employees:

• All employees are responsible for complying with this Policy and reporting any potential violations to the Compliance Officer.
  
  

VII. Training

Steadworth will provide regular training to its employees on SCRA compliance. This training will cover topics such as how to identify covered borrowers, SCRA benefits and protections, and compliance procedures.

VIII. Review and Revision

This Policy will be reviewed and revised periodically to ensure that it remains current and effective.

IX. Conclusion

Steadworth is committed to supporting members of the military and their dependents by complying with the SCRA. This Policy is intended to ensure that all employees are aware of their obligations under the SCRA and that Steadworth provides covered borrowers with all of the benefits and protections to which they are entitled.

X. Contact

Any questions or concerns regarding this Policy should be directed to the Compliance Officer at: contact@steadworth.com

Please note: This Policy is intended to supplement, not replace, any other applicable Steadworth policies or procedures.