Loan Modification Provision

2 topics · 3 sources

Banking

A contractual agreement in a loan that allows the borrower or lender to permanently change one or more of the terms of the original contract.

The Office of the Comptroller of the Currency — Dictionary of Banking Terms and Phrases
Office of the Comptroller of the Currency, U.S. Department of the Treasury — Dictionary of Banking Terms and Phrases retrieved 2014-05-16

A contractual agreement in a loan that allows the borrower or lender to permanently change one or more of the terms of the original contract.

National Credit Union Administration — Pocket Cents Glossary retrieved 2014-05-16