We are currently using the Fannie Mae 4 page application forms. We do not sell our loans. Why we continue to use them is anyone's guess....."because, it has always been that way", I suppose.

In any case, I was under the impression that we could not adjust those forms in anyway except in their current format, regardless of who prints them. I was told recently that even if the Evidence of Intent is not on the form, we did not have to get a separate form signed if we used the Fannie Mae forms. We would still be considered in compliance. We have always continued to attach the separate disclosures.

Does anyone know if that is true?

Thank you.

In April 2004, the ABA wrote a letter that indicated that they had spoke with each of the regulatory agencies concerning confusion surronding the Evidence of Intent to Apply issue. One of the ABA's statements was that a signed Fannie Mae 1003 application is sufficient evidence of intent. The idea is that if the borrower and co-borrower sign the application (and this would be true for any and all applications) you have all of the evidence you need. Think about it: Why else would someone sign an application?

I know that the signature represents an attestation to the accuracy of the info. provided, but the applicant's name is under the heading "Borrower" or "Applicant" and the co-applicants is the same.

Reg B does not require signed applications, let alone any special type of application - even on home loans [see the Commentary to §202.4(c)#1]. Loan officers are required to document information provided, including who the applicants are (there's your evidence of intent to apply).

This is the type of issue that we will be discussing during the webinar on Wednesday. You can sign up for it here

Just for your information - Fannie Mae has updated their Form 1003 Application to include signature lines at the top for evidence of intent to apply jointly. The new form can be used effective July, 2005 and is mandatory January, 2006.

One more thing....can we get these printed by one of our own vendors.......or is it a must that they are ordered from Freddie/Fannie.....

I am not the forms person around here, but I believe we get these from our forms vendor.

You can go to the Freddie Mac site and download the form, in either Word or .pdf format. Freddie's web site indicates that you may make certain adjustments to the form (chiefly formatting changes). Then you may have the forms printed yourself.

Thanks everyone......Appreciate the help!