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#336969 - 03/22/05 04:35 PM Reg. B - Intent to Apply for Joint Credit
complygirl Offline
Platinum Poster
Joined: Oct 2004
Posts: 822
midwest
Are we required to get a Reg. B Notice of Intent to Apply for Joint Credit on a loan renewal? This loan renews annually, and we do not have anything on file regarding evidence of intent to apply for joint credit.

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Lending Compliance
#336970 - 03/22/05 05:51 PM Re: Reg. B - Intent to Apply for Joint Credit
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Yes. You are re-extending credit with the renewal. The exception would be if these are required signatures by your underwriting guidelines, such as officers of a closely held corporation.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#336971 - 03/22/05 06:52 PM Re: Reg. B - Intent to Apply for Joint Credit
complygirl Offline
Platinum Poster
Joined: Oct 2004
Posts: 822
midwest
Thanks Dan!

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