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#1750543 - 10/18/12 09:22 PM Guarantor intent
dg Offline
Platinum Poster
Joined: Jan 2005
Posts: 811
Pacific NW
Have a loan with no written application. Loan Officer write-up noted that the borrowers father will be guarantor. Loan contains a signed guaranty. Is it necessary to show an intent to guarantee by documentation on an application?

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Lending Compliance
#1750606 - 10/19/12 12:51 PM Re: Guarantor intent dg
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Their intent to guarantee the loan would be evidenced by them executing the guaranty.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1751193 - 10/22/12 08:06 PM Re: Guarantor intent dg
manimal Offline
Diamond Poster
manimal
Joined: Feb 2008
Posts: 2,207
Deleted
I thought guarantors were treated like joint applicants? I thought I read that in the commentary...
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#1751491 - 10/23/12 04:53 PM Re: Guarantor intent dg
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
The question was concerning intent to guarantee, not the intent for joint credit.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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