We have a consumer loan currently secured by a vehicle. The loan is under collateralized so we are doing a modification to the current loan to add the borrowers residence as collateral (no other terms are changing). We are only charging for title insurance, flood search, and recording fees. The borrower is paying these fees in cash. In looking at a previous post on loan workouts and it looks like all we have to give is the right of rescission.

Is that right?