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For open-end and you will closed-avoid loans, the brand new changed requirements require the borrower showing willingness and feature to repay the loan. The brand new modified coverage retains the new immediately after-in-twelve-months/twice-in-five-age limit for the re also-aging unlock-prevent financing. For signed-end financing, associations must use their own specific criteria you to limit the quantity and you can frequency from extensions, deferrals, renewals, and rewrites. The policy also stresses the need for full and you can active chance administration, revealing, and you will inner...
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