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#1851140 - 09/11/13 07:25 PM Trouble loan, maturity extension, AAN yes or no
ynot Offline
Member
Joined: Sep 2011
Posts: 81
Florida
We have troubled commercial loan, we tried a maturity extension, customer couldn't come up with the extension terms, loan is now with our legal department. Are we required to send an AAN?

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Fair Lending
#1851207 - 09/11/13 08:20 PM Re: Trouble loan, maturity extension, AAN yes or no ynot
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,363
Galveston, TX
If you are saying that the customer applied for a loan renewal and it was denied, then yes. If the loan matured, there isn't an "extension" possible.
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#1851227 - 09/11/13 08:36 PM Re: Trouble loan, maturity extension, AAN yes or no ynot
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,656
Florida
Like Randy said - if the customer applied, then AAN
If bank was trying to come up with terms to work out of a delinquency, NO
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#1851260 - 09/11/13 09:03 PM Re: Trouble loan, maturity extension, AAN yes or no ynot
ynot Offline
Member
Joined: Sep 2011
Posts: 81
Florida
It was a workout so thanks Southern Banker.

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