We are filing modification agreements. Paying off old note and assigning a new note number.
This seems contradictory. Can you clarify please?
If you are modifying an existing, what would you be paying off? Wouldn't you keep the same loan number because you're only modifying that which already exists?
Or are you truly paying off a loan and doing another?
If it's the latter, that sounds like it should be handled as a true refinance with all the disclosures, new appraisal, etc.