Which of the following actions requires a Change Memo?

A Change Memo is a formal document used to capture significant changes in the loan process or its associated details. Adjusting the loan interest rate before closing is indeed a critical adjustment that can affect both the borrower and the lender significantly. It alters the terms of the agreement and possibly impacts the risk assessment associated with the loan. Given its importance, documenting such a change ensures that all parties have a clear record of the updated terms, promotes transparency, and maintains compliance with regulatory requirements.

In contrast, actions like changing borrower contact information, transferring ownership of the loan, or completely rejecting the loan may follow different procedures or documentation practices within the system and may not necessarily require a Change Memo. Each of these actions has implications, but the adjustment of the loan interest rate is particularly pivotal as it directly impacts the financial terms of the loan agreement.