Washington (CNN) -- A JPMorgan Chase executive admitted to Congress that the bank did a "terrible job" of dealing with military home loans. The bank has admitted to overcharging approximately 4,500 members of the U.S. military on their mortgages and said it accidentally foreclosed on 18 service members' homes. Active duty personnel are covered under the Servicemembers Civil Relief Act (SCRA). The law caps interest on debt incurred before service, such as mortgage or credit card debt, at 6% while active, and also prevents foreclosure proceedings from beginning until nine months after the service member returns from active duty. "I would like to express to the men and women serving our country and to the members of this committee, Chase's deepest regret over the mistakes we've made in applying these protections. I commit to you that we will get this right," Stephanie Mudick, an executive vice president in JPMorgan Chase's Office of Consumer Practices, told the House Committee on Veterans Affairs Wednesday.Bank admits faults in military home loansJPMorgan Chase executive says changes have been madeService members cite finances as their second largest source of stress, a study shows
They include a centralized unit set up to specialize in _ loans, with employees trained in reading military orders, as well as a new hotline staffed by employees trained specifically on how to answer SCRA borrower questions.