I've read numerous threads on joint intent and I just need verification that I understand the following when a guarantor is applying and is not required by our policy....

If we have an individual applying for credit with a guarantor applying at the same time....we would need joint intent from both the individual and guarantor....because a guarantor is an applicant and we have two applicants.....

Is this correct? I'm working on some training and want to make sure that this point is correct.....

1002.2(e) Applicant means any person who requests or who has received an extension of credit from a creditor, and includes any person who is or may become contractually liable regarding an extension of credit. For purposes of §1002.7(d), the term includes guarantors, sureties, endorsers, and similar parties.

Thanks, Randy.....I just wanted to make sure that in this case an individual would need to acknowledge joint intent....so I take it you are stressing that yes, an individual would.

If a guarantor is not required for the specific credit request then joint intent would be needed.

Thanks so much, Dan....