Skip to content
 

Conflicting GMI Checkoffs on Application

Answered by: 
Andy Zavoina

Question: 
When the borrower signs the 1003 for government monitoring purposes and checks the box for "I do not wish to furnish this information," but also checks the boxes for ethnicity and race, how does this get reported?
Answer: 

If GMI is to be collected and the applicant(s) mark how they are to be classified, but also mark that they did not want to supply this, if you can have them clarify and initial I would do so. Otherwise, use the error for your information and consider this included in your "visual observation."

First published on BankersOnline.com 2/21/05

First published on 02/21/2005

Filed under: 
Lending
Filed under lending as: 
Checks
GMI

Report a problem with this page

Search Topics