Skip to content
BOL Conferences
Thread Options
#420277 - 09/08/05 04:57 PM Joint Credit Disclosures for commercial loans
Anonymous
Unregistered

We have a commercial loan where we have the partners of the business signing for the loan and they are also guarantees for the loan. Does the joint credit disclosure apply for commercial loan?

Return to Top
Lending Compliance
#420278 - 09/08/05 06:35 PM Re: Joint Credit Disclosures for commercial loans
Skittles Online
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
Are they the borrowers? That's when you need joint intent. If they are only signing on behalf of the company and guaranteeing the debt, joint intent is not required.
_________________________
My Opinions Only

Return to Top
#420279 - 09/08/05 06:55 PM Re: Joint Credit Disclosures for commercial loans
Ninky Offline
Gold Star
Ninky
Joined: Nov 2002
Posts: 357
That was not my understanding. Is that the general concensus on the Reg B intent of joint application requirement? It was my understanding that it was required on every transaction.

Return to Top

Moderator:  Andy_Z