Use for: Modification of WCUL closed-end loan agreements where several installments are rescheduled. Repayment options include:
- Monthly payments in the original amount, with extension of the final payment due date.
- Monthly payments in the original amount, with a balloon payment due on the original scheduled final payment due date.
- Monthly payments at a higher amount, with the final payment falling on the original schedule final payment due date.
- See ii Release No. B037 – Simple Interest Deferral and Extension Agreements, and
- ii Release No. B072 regarding loan workouts and TDRs.
- See Compliance Courier: New loan modification agreement accommodates extensions, deferrals, or re-amortization of WCUL notes (4/27/2020).
- Rev. 4/20.