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Re: Loan Modifications

Home Forums Home Mortgage Disclosure Act Loan Modifications Re: Loan Modifications

#3024
dmurray
Participant

I couldn’t tell you where to find it, I’ve looked at Reg C and HMDA’s GIR. However, the definition of a refinance is “any
dwelling-secured loan that replaces and satisfies another dwelling-secured loan to the same borrower”. So if you’ve got a modification with new money then you should be getting a new note and new deed of trust. (I’m not saying that you’re going to have a new note number.)

So are you questioning if this loan is actually reportable? In this case, I’d say yes.

I’m not sure that this is where you’re going with your question though.