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#413984 - 08/25/05 05:31 PM Definitions for applicant, co-applicant and co-sig
Anonymous
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Can anyone tell me where I can find the definitions for the terms applicant, co-applicant and co-signer?

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Lending Compliance
#413985 - 08/25/05 05:42 PM Re: Definitions for applicant, co-applicant and co-sig
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Here's a start. You need to check the applicable regulations and sections you're referring to for their definitions.

Reg. AA 227.12

Reg. B 202.2

Joint applicant 202.7(d) in the Official Staff Interpretations.
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#413986 - 08/25/05 06:22 PM Re: Definitions for applicant, co-applicant and co-sig
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
Read Reg AAs definitions clearly. It states the definition of a co-signer with several parameters. One being someone who does not receive benefit from the proceeds of the loan. It also states that the definition determines who is a co-signer and not the bank. I interpret that to mean that if a bank uses the term co-borrower, but the individual meets the definition of co-signer, then the consumer is a co-signer.
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