we just had one that matured with an old rate of 8.50% and we just wanted to renew it at the same rate
How do you renew a legal agreement that expired? Any new agreement, even with the same terms, would satisfy and replace the expired agreement.
You will see from my past posts that I would agree with the FDIC that any renewal of a matured note would constitute a refinancing.
However, it the note is modified
before the maturity then I will defend the modification does not constitute a refinancing as long as the modification does not inadvertently become a refinancing under 226.20 and its Commentary.