Thread Options
#2256217 - 07/01/21 03:05 PM CDLs & Modification Agreements
Fiddlesticks Offline
Junior Member
Joined: May 2015
Posts: 46
We have a CDL that originated in a prior year and was to have matured in Feb 2021. The note was modified and extended (no new note) at maturity to push the maturity date to August 2021. Can we report it as a CDL for 2021. Thanks!

Return to Top
CRA
#2256253 - 07/02/21 12:42 AM Re: CDLs & Modification Agreements Fiddlesticks
Len S Offline
Diamond Poster
Joined: Oct 2004
Posts: 1,848
Connecticut
Sounds like a "renewal" to me - the underlying note's maturity was extended. All originations, renewals, and refinanced loans (including CD loans) are qualified to be recognized subject to the once-per-year rule.
_________________________
CRA Exam Preparation, CRA Performance Evaluations, Key Performance Benchmarks, & maps

Return to Top