Answer:
All applications for credit with joint applicants trigger this requirement. It doesn't matter if it's a new loan, a refinance, or a modification; all parties have to indicate they want this.
They don't have to initial or sign anything, but you must have some type of documentation showing that the parties wish to apply jointly. This could even be a loan officer's comments (such as a phone application).
First published on BankersOnline.com 3/22/10
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