A Texas home equity loan may be modified (as opposed to refinanced as described below) with some restrictions. Generally, a modification has to comply with requirements that apply at the origination of the home equity loan. Specifically, Texas’ Office of Consumer Credit Commissioner (OCCC) has stated that as a result of the modification, scheduled installments should be substantially equal in amount, successive and periodic, and scheduled to equal or exceed the amount of accrued interest as of the date of the installment. Additionally, the first payment must not be due more than two months after the modification. [Bank counsel should consult 7 Tex. Amin. Code 153.7 for additional requirements.]