(a) “Modification agreement” means the written agreement executed by an association and borrower which modifies the amount, terms, or provisions of an existing promissory note and the deed of trust securing such note.

(b) “Loan” or “advance” means an amortized loan. A loan which has been modified by an additional advance thereon or any change in the terms shall be deemed to be a new loan for the purposes of Sections 5074 and 7150 of the law. The term for the purposes of Section 7150 shall begin on the date the advance was made if money was advanced or the date the terms were changed if no money was advanced.