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#1676699 - 03/13/12 02:21 PM Joint acknowledgement
ynot Offline
Joined: Sep 2011
Posts: 81
We participate in indirect lending with several car dealerships, we get applications after the customer has come and gone from the dealership, the application is joint as evidenced from both signatures on the application and the joint acknowledgement is checked however they did not initial the joint acknowledgement, what now?

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Lending Compliance
#1677189 - 03/14/12 12:25 AM Re: Joint acknowledgement ynot
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,293
Galveston, TX
Kick it back to the dealer and don't accept it.
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#1677332 - 03/14/12 02:35 PM Re: Joint acknowledgement ynot
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,401
Agree with Randy, but rest assured that every one in the future will be initialed, (whether it be by the customer or dealer initialing with the customer's initials on behalf of the customer).

(Seen it happen - sent contract back to dealer and got it back in the next run - a half-hour later. "The customers just happened to be in the dealership and were glad to initial it.")
Last edited by Southern Banker; 03/14/12 02:38 PM. Reason: added comment
Integrity. With it, nothing else matters. Without it, nothing else matters.

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