Refinances and Modifications: The Regulatory Requirements

Recorded: June 17, 2025
Presented by: Mark Burnside, Director, Forvis Mazars, LLP

A two-hour webinar that reviews the federal rules that may apply when changing the terms of a loan

As lenders go through the term of the loan, either the lender or borrower may want to change a term. Institutions can do so by either refinancing (i.e., entering into a new loan to satisfy and replace the existing loan) or modifying (i.e., entering into a second agreement which modifies the first) the existing loan. Institutions often struggle with these concepts, and most importantly, whether a modification is possible. We will discuss the importance of state and contract law in this regard.

Then, the question is, what are the compliance consequences to both? When are notices required? Are there any differences depending on the terms of the transaction – for example, a closed-end transaction versus an open-end one? We will detail the regulatory requirements of both, along with potential concerns with discrimination and UDAP/UDAAP.

HERE IS WHAT YOU WILL LEARN:

• Definitions of Refinance and Modification
• When to refi versus when to modify – general concepts and suggestions
• Federal lending compliance requirements for both, including:
  • ECOA/Reg B
  • TILA/Reg Z and RESPA
  • Flood
  • UDAP/UDAAP