Be sure to JOIN US, “Refinances, Renewals & Modifications.”
It’s not uncommon for bankers to use the terms refinance, renewal, extension, modification, etc., interchangeably. When it comes to compliance; however, you need to be careful. While Truth in Lending disclosures may not be needed for a modification, they are for a refinance. There can be a lot to consider depending on what exactly you’re doing.
David explains “modifications” under Truth in Lending in the video.
Published
2022/09/26