I apologize ahead should this be a copy matter
For individuals who replenish and you may continue the first a residential property lien mention prior to readiness , have a tendency to which result in any requirements to evaluate to have HPML/HOEPA, etcetera.?
Yet not, one extensions or modification into “a home lien doc” cannot factor to your whether or not the transaction try a restoration otherwise an excellent refinancing. For many who replace the established notice with a new note following you may have a refinancing requiring new disclosures.
Whether your financing features mature/ended up coming any brand new note would-be replacement new aged/expired mention so it could be a great refinancing
We read a brief use in which most likely the renewal/modification exemptions are going to be eliminated should your speed are improved, the new currency state-of-the-art and there was basically additional conditions and terms.