Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance Reg B- Joint Intent
Thread Options
#1725763 - 08/01/12 02:09 PM Reg B- Joint Intent
compliantologist Offline
New Poster
Joined: Apr 2012
Posts: 3
If an individual an a company (the individual is the company owner) are applying for joint credit, is the evidence joint intent required?

Return to Top
Lending Compliance
#1725774 - 08/01/12 02:19 PM Re: Reg B- Joint Intent compliantologist
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Yes. They both are applicants by definition.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1725788 - 08/01/12 02:28 PM Re: Reg B- Joint Intent compliantologist
shea930 Offline
Gold Star
Joined: Dec 2008
Posts: 267
What if the company will be the borrower and the individual is a guarantor?

Return to Top
#1725849 - 08/01/12 03:31 PM Re: Reg B- Joint Intent compliantologist
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
A guarantor is an applicant for the purposes of 1002.(7)(d). See the definition of an applicant in 1002.2.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z