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Modification vs. Renewal Characteristics (CRA)

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With regard to reporting non-dwelling secured or unsecured business loans for CRA credit, what are the characteristics of a modification versus a renewal?

CRA does not differentiate. As long as you are adding more money or extending the maturity date, you report the transaction whether is was done by modification, renewal or refinance. There is no difference as there is in HMDA. This is mentioned in the Q and A.

First published on 10/11/2015

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