Final answer:
Memo changes to a loan post-booking are usually considered false since the booking records the loan's details as a binding agreement, but non-material details can be updated depending on the institution's policies.
Step-by-step explanation:
The statement that memo changes are applied to the loan post-booking is generally False. A loan booking is the process of formally recording the loan in the financial institution's system, setting the terms, interest rate, payment schedule, and other pertinent details as a binding agreement. Once a loan has been booked, these terms are expected to remain constant and any changes would usually require a formal process of amendment or refinancing. However, certain non-material details, like internal memos or notes related to the loan, can sometimes be updated post-booking depending on the lender's policies and the nature of the changes. These changes typically do not affect the actual terms or conditions of the loan itself.
Memo changes are not applied to the loan post-booking. A memo change is a change made to a loan application after it has been booked or approved, but before the funds are disbursed. These changes could include adjusting the loan amount, interest rate, or repayment terms. However, once a loan is booked, any changes made through a memo will not affect the loan terms or disbursement.