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#1732747 - 08/20/12 03:43 PM Joint Application denial
Cale_N_Oats Offline
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Cale_N_Oats
Joined: Aug 2008
Posts: 742
Southern Illinois
Brain [censored] commencing.

We have a joint app and only the primary applicants credit history is contributing to the denial and not the co-applicant. Can/should we send a denial to the co-applicant stating the same reasons for denial as the primary applicant?

I thought I had read that there were some privacy issues with this at first but it was deemed to be acceptable via commentary from regulators.
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Lending Compliance
#1732749 - 08/20/12 03:45 PM Re: Joint Application denial Cale_N_Oats
swiggles Offline
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swiggles
Joined: Aug 2001
Posts: 7,333
The reasons for denial (Under Reg B) should be the same on both notfications. But only the applicant with carpy credit should receive the FCRA notification and credit score information disclosure.
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#1732759 - 08/20/12 03:56 PM Re: Joint Application denial Cale_N_Oats
Cale_N_Oats Offline
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Cale_N_Oats
Joined: Aug 2008
Posts: 742
Southern Illinois
Ah, I see,makes sense. Thanks for your help!
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