When you make changes to a loan, the way in which you make those changes can affect whether certain regulatory requirements and/or disclosures apply. For example, if you make, increase, renew, extend (MIRE) a loan secured by property located in a Special Flood Hazard Area, you are going to trigger flood insurance requirements and notices. The Ability to Repay rules in Regulation Z are another area in which a decision to refinance a loan versus just modifying a loan could impact whether those requirements apply.
Kevin explains more in the video.
Published 2026/09/12