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#1972407 - 10/28/14 04:18 PM Modification due to ATR - Can we reduce the rate?
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,110
In the mountains
Where a customer cannot meet ATR and we do a modification instead of a refinancing, can the interest rate be reduced? or will this force us to refinance this loan and redisclose?
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Lending Compliance
#1972497 - 10/28/14 06:33 PM Re: Modification due to ATR - Can we reduce the rate? Likes to Comply
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
You can do anything you want except add a Variable Rate Feature, unless State law dictates otherwise.
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