Do people who are guaranteeing a loan get the FACTA notice? They are not on the note.

No. They are not the debtors.

If they are referring to the FACTA Notice to Home Loan Applicant I would agree. However if they are referring to the FACTA negative information reporting then I would opine otherwise because if the loan goes bad and the gurarantor doesn't pay you will report them (assuming of course you report negative information on guarantors). Therefore your option is to provide them a notice before you report, or within 30 days after you report.

If I am reading this correctly, you would not have to provide the NHLA to guarantors.

Are you required to provide to cosigners?

We are going back through our procedures and this question has come up for us as well. The regulation provides that the notice is required to be given to the "applicants". If a co-signer did not apply jointly with the applicant, but we did pull a credit bureau and obtained a credit score should we provide the co-signer a copy of the home loan disclosure? I'm understanding that guarantors would not receive a copy. I've gone through several of the threads and other sources and I'm not finding this addressed anywhere specifically. My understanding is that basically Reg B and FCRA use the same defintion of "applicant" and Reg B does not include guarantors (except for the spousal signature). Would appreciate if someone would confirm whether or not co-signers should receive the notice? Thank you.

Bump? Did I answer my own question and am not seeing it? Thank you.

There is no clear guidance on this. Here's my 2 cents.

A co-signer is a consumer initiating an application for credit to be secured by a 1-4 residential real property. Their credit score is used in the credit decision. They sign the note and they are directly liable for the loan. Therefore I opine the NHLA is required.

Thank you Dan. That was my conclusion as well. Appreciate your thoughts.