We have a commercial loan that closed on 7/20. This was a refinance of several rental properties. When the loan review was done on 8/19 (don’t comment on how long that took) it was discovered that one of the refinanced properties was not included in the original payoff. The loan was issued a new loan number and closed and with the updated loan amount.

I assume this is reportable twice? Obviously the original purpose was a refinance that was not temporary. This was a bank error. The loan was on the books for 30 days.

Am I looking at this right?

Sounds to me that you just reclosed the same loan to correct your error. The assignment of a new loan number is irrelevant.

Thank you Randy. I was hung up on it being on the books for 30 days under a different amount.