Answer:
When you refer to Reg B, if you are referring to the joint intent, the joint intent applies to all loan requests.
First published on BankersOnline.com 8/04/08
Reg B - Father & Son Joint Applicants
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Question:
Reg B applies to consumer and agricultural/commercial loans. Is Reg B on agricultural/commercial loans only required if the joint applicants are husband and wife? I had a father and son buy a commercial property and they are not a legal partnership. We forgot to have them sign the Reg B, which is a different document for agricultural and commercial loans. I had a fellow officer tell me this only applied to husband and wife applicants. Is this true or does it apply to any joint applicants? I just want to be clear on this since I have to check and make sure all the required documents are signed. I was under the impression that Reg B was anyone applying jointly.
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