I assume that for the moment the applicant thinks he is applying for credit on his own? And if that's the case, and he doesn't qualify on his own, you would have the obligation to tell him that he needs a cosigner/guarantor to get the loan. I also seem to recall that the bank can't require a specific individual or entity to be a guarantor, that the applicant would have to offer one? I guess the question that needs to be asked is how exactly does this guarantor fit into the big picture in the first place?
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