Loan Modification Agreement (Form 3161): Word. Section A: List the full property address as it appears on the original document and include Municipality.This may be pulled from the Legal Description. Defining the details of a loan modification agreement is essential for any successful process. Our free templates and this guide can help you get started. The mortgage modification agreement is a legal document between a lender and borrower to change an existing loan's terms. A loan modification agreement used when a borrower is not in default to amend the terms of a commercial real estate loan in Pennsylvania. A loan modification agreement used when a borrower is not in default to amend the terms of a commercial real estate loan in Pennsylvania. Forbes, PC to find out if a loan modification is the best option for you. Loan Modifications And Other Forms Of Loss Mitigation.