Posted By: Sugarbaker
Modification Agreements and Disclosures - 06/07/06 05:58 PM
If loan terms for a purchase loan have been changed with a modification agreement is it necessary to provide new RESPA and Reg Z disclosures? Thanks.
Posted By: Dan Persfull
Re: Modification Agreements and Disclosures - 06/07/06 06:34 PM
You're welcome. However, I should point out that there is an exception. If you are modifying from a fixed rate to a variable rate you would need to re-disclose. Review 226.20 and its Commentary.