We are going to recast a loan (re-amortize a loan from now until the end of the maturity). The monthly loan payment will change but the term of the loan, interest rate, loan balance and everything else will remain the same.
Does the change in the loan payment quality as a MIRE event that would require a flood determination be completed? I don't feel that this does but would like opinions.

We are contemplating completing a Change in Terms Agreement to show the updated new loan payment so not certain if this makes a difference?

Thanks.

As long as you are not extending the maturity of the loan I don't believe you have a MIRE event.

Thanks Skittles.