Advice sought on balloon note modified in 2012 re Dodd Frank

[Bob Malecki]

We purchased a first position note on a home in WA which was a hard money originated note originated in 2007 with a balloon due in 2008. The previous note holder modified the loan with the borrower in 2012 and specified a new balloon date for 2014. 

Sooooo, if the borrower challenges the note, will the fact that the original note w/balloon was created previous to Dodd Frank in 2010 make it exempt from the DF balloon provision? Or will the mod done in 2012 be a threat? 

I'm assuming that the since it was a modification of the original note, and not a newly generated note, the 2007 origination date/document will have precedence. Any thoughts?

Thanks