Is section VIII Declarations on the FNMA 1003 application required to be completed for any particular regulation? Or are they just questions that we are allowed to ask if we so choose?

I see that Reg B allows us to ask the applicant the question about whether they are obligated to pay alimony, child support, etc.

No regulation that I can think of off the top of my head. One key reason they are there is to determine eligibility for government guaranteed housing programs. But the bigger question would be why not answer the questions? All of that information is valuable.

Raymond,

Thanks for the response. I agree that they are all good questions, but I just wanted to make certain that if the information wasn't completed for some reason that we aren't violating a reg. Nothing really struck me either as being a required part of a reg, but there lots of people on this site that are much more knowledgeable than I am.

Cathy,
Ask how Desktop Underwriter handles incomplete answers. Seems most are questions that impact a person's ability to repay this loan, and that may not appear on their credit report. I suspect the bankrutcy question was put on the application before credit bureaus were effectively reporting this info.