Answer:
If applicant lists income from his/her spouse on the application form and needs the income in order to qualify (i.e., applicant does not qualify on his/her own), you cannot require the spouse be on the application. You can, however, require that the borrower obtain a suitable co-borrower in order to qualify for the credit. You would then have to look at the qualification of any co-borrower the applicant chooses to provide.
First published on BankersOnline.com 6/4/01
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