#420277 - 09/08/0504:57 PMJoint 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?
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.
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.