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Consumer Loan and Cosigner Procedures

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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?

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 2/18/08

First published on 02/18/2008

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