Bank Compliance: Refinance v. Renewal v. Modification

Bank Compliance: Refinance. Renewal. Modification. These words are used all the time in the banking industry and in many cases, they are used incorrectly. When it comes to compliance, these terms are not one in the same. Thus, you have to be careful because the requirements for refinances may be quite different than for a renewal or modification.

David explains more in the video about the bank compliance terms.


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