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July 15, 2015
All About Escrows
David Dickinson

July 16, 2015
Business or Consumer Purpose, That Is the Question!
Kathleen Blanchard

July 21, 2015
Efficient SAR Narratives: Beyond the 5 W's
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July 22, 2015
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Jerod Moyer

July 28, 2015
Opening Nonprofit, Memorial, Donation, Association Accounts and more
Deborah Crawford

July 29, 2015
How to Complete the Closing Disclosure
Jerod Moyer



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#1340555 - 02/09/10 04:55 PM Modification vs. Renewal
Busy body Offline
100 Club

Registered: 11/09/04
Posts: 160
Loc: Texas
I understand that the definition of a renewal for CRA is extending the term of the note, even if it is by means of a modification. However, we recently identified a commercial loan where the term was extended by only a couple of months as part of a workout agreement to bring the loan current. The due date is about 10 years from now, now extended by a couple of months. It just seems to defy logic to report this, yet it appears that we should. Thanks in advance for any input.

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CRA
#1340823 - 02/10/10 10:12 AM Re: Modification vs. Renewal [Re: Busy body]
Mrs. Rizzo Offline
10K Club

Registered: 03/07/06
Posts: 10392
Loc: Curled up by the fire...
I would report it.
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Take responsibility for your life.

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