I need to get a better understanding of what a loan renewal is under this new BO rule. Does it include a loan advance where a customer can call into the bank and ask for an advance on a line of credit, letter of credit, etc.? I'm confused and need some clarification.

Thanks

A loan renewal to me is anytime you have the customer sign a new note, a change in terms agreement, or a loan modification agreement to extend the maturity date of an existing note.

Thank you for the response. I appreciate it.