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#683938 - 02/09/07 03:39 PM Loan Modifications and the "MIRE" Principle
Not a Fan Offline
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Not a Fan
Joined: Jul 2005
Posts: 241
Tennessee
The MIRE principle states when Making, Increasing, Renewing, or Extending a loan the flood determination comes into play. We get an updated one for a loan modification also just to be safe but is it required?
Thanks.

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Lending Compliance
#683962 - 02/09/07 03:50 PM Re: Loan Modifications and the "MIRE" Principle Not a Fan
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,962
Bloomington, IN
If the modification is extending the term of the loan, yes.
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The opinions expressed are mine and they are not to be taken as legal advice.

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