Interagency Statement on Loan Modifications: Working with Borrowers Impacted by COVID-19

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

• Define a troubled debt restructuring (TDR)
• Understand when a loan modification related to COVID-19 is exempt from TDR reporting
• Identify when a coronavirus-related payment deferral does not need to be reported as past due
• Evaluate the best way to work with an affected borrower
• Determine the immediate proactive steps your financial institution should take

WEBINAR DETAILS

On March 22, 2020, federal and state regulators issued the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus. This statement provides guidance about how to work with borrowers (both consumer and commercial) who are unable to meet their loan payment obligations due to the coronavirus situation. If handled correctly, loan modifications to assist borrowers who were current prior to the pandemic will not be characterized as a TDR, and payment deferrals will not be required to be reported as past due. With this webinar, you’ll learn to properly handle consumer and commercial loan modifications and payment deferrals in accordance with the Interagency Statement and how to document compliance. Discover the proactive steps that can assist your institution immediately

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