Skip to content

Reg B/ECOA - Intent to Apply Jointly

Answered by: 

Question: 
Under Regulation B of the Equal Credit Opportunity Act, when applying jointly, we have to get signatures or an initial for the intent to apply jointly. What if it's a modification with a new application?
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

First published on 03/22/2010

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