Durango, just from a "spirit and intent" point of view...I prefer we redisclose if we make major changes to original deals...it's a judgement call/internal procedures issue in many ways...be sure to read the commentary to .20(a) that Richard cited.
In regard to you example of terming out a balloon...consider this...you original note has matured. Not to replace that note, but simply modify it, to me...may cause you to lose some protections covered in that note...I may be wrong...but it just doesn't seem appropriate to modify in a situation like that.
Same with the example of variable to ARM. Was the first one unsecured and now you intend to secure it with a home, thus an ARM? To me you have risk there in choosing to modify vs refi.
My opinion only. Not legal advice.
Say you'll haunt me - Stone Sour