Thread Options
#2076180 - 04/28/16 05:14 PM Line renewal start a 30 day Reg B clock?
Soccer Offline
Diamond Poster
Joined: Jan 2010
Posts: 1,018
Utopia
Would the annual renewal of a commercial line of credit start a 30 day clock for reg B? We send the borrower a letter letting them know their line is coming due and to please send their current financial information for review in order to renew line.
_________________________
Everything happens for a reason

Return to Top
Lending Compliance
#2076302 - 04/29/16 01:14 AM Re: Line renewal start a 30 day Reg B clock? Soccer
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,944
Galveston, TX
If you receive their financial information, I would say that starts your clock.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z