Skip to content

Consumer Loan and Cosigner Procedures

Answered by: 

Question: 
When a consumer loan has a cosigner, does the cosigner have to supply an application and do we need to run a credit report? What other documents are required from the cosigner?
Answer: 

A written application is only required on loans subject to Reg B 202.13(a). Any other requirements are purely based on your bank's underwriting policies. The co-signer should acknowledge receipt of the "Notice to Co-Signer" as outlined in Reg AA.

First published on BankersOnline.com 2/18/08

First published on 02/18/2008

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics