I have instructed Loan personnel what fields must be completed on a Consumer Purpose Dwelling secured loan application.

The problem that I have with our Loan personnel is that they want to complete the application on behalf of the customer because it is faster and as a customer service. When this is done, the liability section is never completed. When asked for the liabilities to be completed by the customer the Loan Officer states it's on the credit report.

I understand that listing the liabilities on the application that are stated on the credit report, is over kill, but due to the ability to repay rules I want the customer to completely fill out the application. We do have a bank in our market area that does not report to a credit bureau.

Do other banks let the Loan Officer or Assistant complete the application on the customer’s behalf? Is it that big of deal if the liabilities on the credit report is also listed on the application?

The application could only be completed for the borrower in a face to face interview.
All the pertinent information necessary to proceed to determine if the applicant qualifies for a loan should show on the application.
The applicant signs the 1003 to indicate that the information contained therein is true and correct. If information is missing, it cannot be attested to.

Verification docs, including the credit bureau, VERIFY information gathered on the application. Most borrowers never see the full credit bureau so, imo, you're taking a risk by not having them state their liabilities and then comparing it to the cbr.

Are your LOs going to say that they don't need income or employment info because it's on the VOE? Sounds like they're just being lazy.