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#2238303 - 06/18/20 03:56 PM Modifying Construction Loan
BSimmons Offline
New Poster
Joined: Apr 2014
Posts: 1
We are modifying a construction loan to increase the amount as a result of cost overruns. Is a new CD required if no additional fees will be collected?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2238320 - 06/18/20 07:07 PM Re: Modifying Construction Loan BSimmons
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Review 1026.20(a). If it doesn't meet the refinancing definition new disclosures will not be required.
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The opinions expressed are mine and they are not to be taken as legal advice.

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