What documents would be required on real estate loan modifications? On occasion we have customers who would like to do a loan modification as opposed to a full refinance of their mortgage loan. This is usually due to market rates and or to reduce their term and generally only applies to fixed rated loans. We have done theses in the past, however, we haven’t done any since the TRID regulations took effect. In the past we would charge a 1 percent fee of the balance with a minimum of $500 and a maximum of $1,500. We would also require a county valuation, 30-days pay stubs and W-2’s. Our LaserPro platform has a Change In Terms Agreement as well as a Modification of Mortgage Disclosure.

How you do it is a legal question for your legal counsel. Unless you are adding or changing a variable rate feature, it is not a refinancing under 1026.20(a), so the transaction would be exempt from Reg Z.