Thread Starter: rlcarey
Title: Re: Only using a relative as a co-signer
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You can't require it to be a spouse. You can develop any other criteria that you want as long as it is not discriminatory, including that the co-signer be of some relation to the primary applicant.
Paragraph 7(d)(5)
1. Qualifications of additional parties. In establishing guidelines for eligibility of guarantors, cosigners, or similar additional parties, a creditor may restrict the applicant’s choice of additional parties but may not discriminate on the basis of sex, marital status, or any other prohibited basis. For example, the creditor could require that the additional party live in the creditor’s market area.
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