This is more of an loan operational question, but are there any issues with not changing a loan account number each time a loan renews? For example, ever 90 days some of our commercial loans come due. The officer renews the loan, and currently a new loan number is assigned with the new contract. Management wants to keep the number the same for ALL loans each time the loan renews, consumer/commercial installment/singlepay. I know in the past we have had issues with the Credit Bureaus getting the information correct when we kept the same number, but that was years ago.

Loan #'s are an internal record keeping system. There are no regulatory issues either way on this. Some banks assign a # to the borrower and then add a 1, 2, 3 for each loan given to the borrower. Most banks assign unique #'s to each loan, with no correlation to the borrower.

I'm not aware of credit bureau issues. Maybe someone else can chime in with their opinion on that topic. Or maybe you want to contact your credit bureau and ask for their opinion.