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#2290621 - 11/10/23 06:48 PM Guarantors
Larissa Offline
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Joined: Apr 2023
Posts: 18
We have two borrowers that have 2 guarantors that have no collateral to pledge do they need to fill out a 1003? And will we need to also check the MLA status?

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#2290623 - 11/10/23 07:10 PM Re: Guarantors Larissa
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,005
Galveston, TX
A 1003 is the secondary market form. What you have them fill out is up to you. If they will be obligated on the consumer credit obligation, I believe they would. I see no carve out for sureties or guarantors.
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#2290625 - 11/10/23 07:40 PM Re: Guarantors rlcarey
Larissa Offline
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Joined: Apr 2023
Posts: 18
Thank you!

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