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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Old balloon note, new money
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#2114556 - 01/18/17 04:21 PM Old balloon note, new money
mdog76 Offline
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Joined: Jan 2007
Posts: 645
Customer with a small balloon note that was originated prior to Dodd-Frank and TRID wants to get new money. What is the best option for this loan? Modify and keep as balloon or start over as new transaction?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2114572 - 01/18/17 05:03 PM Re: Old balloon note, new money mdog76
Oursisnottoreasonwhy Offline
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Oursisnottoreasonwhy
Joined: Nov 2004
Posts: 504
Central Illinois
I would treat a new money loan request as a refi and do all the TRID disclosures.
Last edited by Oursisnottoreasonwhy; 01/18/17 07:16 PM.
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