this I think is Safety and Soundness - but not sure where else to ask. probably legal counsel...


what - IF ANY - loan changes can be made to a loan without a Signed Agreement from the Borrower?

ex. moving an interest payment to be due at the end of the contract when the loan matures.

Typically, no changes to a closed-end loan are allowed without a signed agreement.

A loan is a contract between the borrower and lender, setting forth responsibilities and liabilities for each.
Your question in reverse - Would you allow the borrower to make changes to the loan without the bank signing off?

Read your promissory note (and any other documents that are part of the contract) carefully. Maybe it already addresses the changes. If that's the case, then no additional approval would be required--just a simple notice that the payment was rescheduled at the customer's request.