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#2115019 - 01/20/17 07:48 PM Rate change notice
AZloan Offline
Gold Star
Joined: Apr 2016
Posts: 266
Do you guys send out a letter or notice to borrowers when their loan interest rate increases (TCM 5 or 3 tied variable notes) and let them know their new pmt amount? At the origination of the loan, we have disclosures stating that that note is variable rate and it will change in 5 years.

Thank you,
Last edited by uedgell; 01/20/17 07:49 PM.
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General Discussion
#2115020 - 01/20/17 07:51 PM Re: Rate change notice AZloan
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
What type of loans?
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#2115028 - 01/20/17 08:25 PM Re: Rate change notice AZloan
AZloan Offline
Gold Star
Joined: Apr 2016
Posts: 266
Commercial loans (CRE and C&I)

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#2115063 - 01/20/17 11:10 PM Re: Rate change notice AZloan
crcmnot Offline
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Joined: Sep 2016
Posts: 351
As a courtesy to our commercial customers, we do.

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#2115066 - 01/20/17 11:26 PM Re: Rate change notice AZloan
AZloan Offline
Gold Star
Joined: Apr 2016
Posts: 266
Thank you CRCMNOT.

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