The regulatory language at 1026.37(a)(5) says "(5) Applicants. The name and mailing address of the consumer(s) applying for the credit, labeled 'Applicants.' "
Then Comment 37(a)(5)-1 confuses matters somewhat: "1. Multiple consumers. If there is more than one consumer applying for the credit, § 1026.37(a)(5) requires disclosure of the name and the mailing address of each consumer to whom the Loan Estimate will be delivered. If the names and mailing addresses of all consumers applying for the credit do not fit in the space allocated on the Loan Estimate, an additional page with that information may be appended to the end of the form. For additional information on permissible changes, see § 1026.37(o)(5) and its commentary."
In the regulation, we're told to list the name and mailing address of the consumer(s) applying for the loan. That suggests you list all applicants.
In the comment, the first sentence says you disclose the name and mailing address of each consumer to whom the Loan Estimate will be delivered. Since the Loan Estimate only needs to be provided to one consumer who will be primarily liable on the obligation, does that mean you need only list one applicant on the Loan Estimate? The second sentence flips back to the idea that you list all the applicants, by providing you the ability to include the "overflow" of the list on an additional page.
When the Commentary contradicts itself, I recommend taking the conservative route and listing all the applicants, even though you will only deliver the Loan Estimate to one of them.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8