Reg B Joint Intent - 2 questions

Posted By: mdog76

Reg B Joint Intent - 2 questions - 02/26/20 05:11 PM

What best way to document Joint intent on a phone app?

If a lender uses two apps instead of a single app, would that signify joint intent?
Posted By: Skittles

Re: Reg B Joint Intent - 2 questions - 02/26/20 05:17 PM

1. The lender should notate on the application that he/she obtained joint intent.
2. No - and why would they use 2 applications? You would still have to ask the question and notate the answer.
Posted By: mdog76

Re: Reg B Joint Intent - 2 questions - 02/26/20 05:44 PM

Not sure why they used two apps instead of one, but we will let them know need to use one app and notate joint intent.
Posted By: Skittles

Re: Reg B Joint Intent - 2 questions - 02/26/20 06:19 PM

In a previous life the mortgage company would do two applications if the applicants weren't married - however that is treating applicants different under marital status.
Posted By: Gertie

Re: Reg B Joint Intent - 2 questions - 02/27/20 08:50 PM

When we have 2 applications for 1 request for credit, we have both applicants sign a separate piece of paper acknowledging intent to apply jointly. Examiners have never indicated a problem with it.
Posted By: Skittles

Re: Reg B Joint Intent - 2 questions - 02/27/20 09:01 PM

Gertie - I'm curious - why/when do you have two separate applications?