Posted by BossLadyMD on 4/25/10 3:37pm
Msg #333416

1003 app (no co-borrower)

I did the orange button search and found a ton of info on the debate about allowing a borrower to sign the top of the 1003 anyway when there clearly is no co-borrower. The reason why I am bringing this issue back up is that in reading all of the old posts, I was shocked at the number of people on here who allow a borrower to sign anyway and write N/A on the co-borrower signature line although they are not supposed to. Some notaries/loan signers indicated that they do this 'just to keep the TC or SS off their back and not deal with the hassle'. Really? I have never had a borrower sign on that line, unless there is a co-borrower as this line is used to confirm a 'joint credit' perusal. Just like we have united in our fight against low-ballers, I think we need to get the companies to understand that if a borrower signs a line indicating that 'they' are applying for 'joint credit' that is INCORRECT. Ask the TC or SS to identify the co-borrower for you first. It will shock them into reality. Ok, off my soap box now, thanks for reading my post.

Reply by John/CT on 4/25/10 3:44pm
Msg #333418

I've seen many times where the single borrower's name was typed below the signature line at the top of the 1003, and/or had instructions for the borrower to do so. I don't make an issue of it ... one way or the other ... I simply do what I'm told. Not my job to educate the lender/broker who prepared the document.

Reply by Shoshana/AZ on 4/25/10 3:59pm
Msg #333420

If only one borrower, I do not ask them to sign the top unless I am specifically instructed to do so.

Reply by Linda Juenger on 4/25/10 4:04pm
Msg #333422

In over 5yrs and thousands of loans, I have ALWAYS had the borrower sign the top whether single borrower or joint. Not once has this come back or been an issue. Will continue to do so until I am told to stop and then it will be only from the company that tells me too.

Reply by MW/VA on 4/25/10 5:00pm
Msg #333435

Same here. I always have them sign as SOP. n/m

Reply by Cari on 4/25/10 6:30pm
Msg #333467

ur right Linda, and I do the same as well...the lender needs

an original 1003, and if there's a spouse, and are considered a non-borrowing spouse, they do NOT sign this form.

I've yet to do a closing where it was acceptable to omit the borrower's signature on the top of the first page??

Reply by parkerc/ME on 4/26/10 8:29am
Msg #333524

Same here. And have BO line through or NA second line. n/m

Reply by BossLadyMD on 4/25/10 4:05pm
Msg #333423

what happens if borrower refuses to sign?

A borrower who reads and understands the top of the 1003 can, and should, rightfully refuse to sign it. What will the lender/broker do then?

Reply by Linda Juenger on 4/25/10 4:07pm
Msg #333426

Re: what happens if borrower refuses to sign?

That's a different story if the borrower refuses to sign it. I can't make anyone sign anything nor am I going to tell them to read it. I will call lender from table and if the borrower is told he doesn't have to sign it, so be it, he doesn't have to sign it. But, until I am told NOT to have them sign it, I will show them the line.

Reply by BossLadyMD on 4/25/10 4:13pm
Msg #333427

how do you explain the top portion of 1003 to the borrower?

When I get to this portion of package, I say to the borrower "This top line would be signed if there was a co-borrower and since there are none on your loan, it's not applicable to you so please just initial the bottom". Linda, when you get to this page, what do you say? Just curious.

Reply by Shoshana/AZ on 4/25/10 4:23pm
Msg #333428

Re: how do you explain the top portion of 1003 to the borrower?

That's interesting. I don't even mention it unless they ask. There are often pages in the package that don't need to be signed. You might create confusion if you say something about it.

Reply by Linda_H/FL on 4/25/10 4:45pm
Msg #333432

Re: how do you explain the top portion of 1003 to the borrower?

"I say to the borrower "This top line would be signed if there was a co-borrower and since there are none on your loan, it's not applicable to you so please just initial the bottom"

Not your determination to make - you're interpreting where you shouldn't be...

I present the application and say "this is your final application....sign here and initial here".... that's it.

Reply by BossLadyMD on 4/25/10 5:11pm
Msg #333440

linda, i'm reading what's already listed at the top..lol

PEOPLE CAN READ THAT FOR THEMSELVES!!! Its right there is black and white. It's common sense!

Reply by jba/fl on 4/25/10 5:15pm
Msg #333441

Hey, Boss - you can shout and turn up the volume

but it won't change anyone's mind about their procedure. Might (louder) does not make right.

Reply by BossLadyMD on 4/25/10 5:24pm
Msg #333442

not gonna have a TC or SS harass me about it, my decision :) n/m

Reply by Linda_H/FL on 4/25/10 5:50pm
Msg #333449

No need to yell..and no, you're NOT reading what's at

the top...you said "I say to the borrower "This top line would be signed if there was a co-borrower and since there are none on your loan, it's not applicable to you so please just initial the bottom"

This is NOT what the top of the 1003 says....

As you said, it's your decision....and my decision is to serve my clients and if they want it signed, which so far all of them have, then it will be signed.

Reply by Cheryl_NV on 4/26/10 10:21am
Msg #333530

Re: how do you explain the top portion of 1003 to the borrower?

This is exactly what I say.

Reply by LKT/CA on 4/25/10 5:46pm
Msg #333448

Re: how do you explain the top portion of 1003 to the borrower?

<<<I say to the borrower "This top line would be signed if there was a co-borrower and since there are none on your loan, it's not applicable to you....>>>

The form's paragraph does not support your statement to the borrowers. You're treading on thin ice with that statement and it could be construed as UPL. But it's your choice to risk the loan package and your commission if you so choose.

www.choicefunding.com/form1003.pdf

Reply by BossLadyMD on 4/25/10 5:57pm
Msg #333455

just pointing out that its not required

on the occasions where i have been asked to have it signed, i call the lender beforehand and ask for the co-borrower's 1003 as 2 signature are REQUIRED, and they quickly say 'oops, you're right, please disregard getting a signature there'. one lender even told me that no other notary has ever questioned it. i told him i was not surprised, sadly.

if you want to continue to get signature on the top portion, great. it is definitely not a requirement because i never do on single apps - that's the only point i'm trying to make.

Reply by LKT/CA on 4/25/10 6:01pm
Msg #333457

Re: just pointing out that its not required

Oops, I take back part of what I said......no commission is at risk since the 1003 signatures aren't notarize.

Reply by BossLadyMD on 4/25/10 6:16pm
Msg #333462

Re: just pointing out that its not required

i never paid attention to your reference to the commission....lol. i already know that single applicants dont need to sign the top of 1003. joint applicant must sign though.

Reply by BossLadyMD on 4/25/10 4:39pm
Msg #333431

u would call the lender if borrower wont sign top of 1003??

I would call the lender if the borrower WANTED to sign the top of a 1003. I would tell them that I'm calling to confirm a co-borrower because a review of the loan package fails to indicate that there is one. So far, I have not had a borrower who wanted to sign or thought they should sign anyways. And nothing has been kicked back to me either.

Reply by Susan Fischer on 4/25/10 5:05pm
Msg #333438

I ask single borrowers to read the paragraph. If the

borrower decides that since (s)he is not applying for joint credit, and they will be signing an application under oath that they have been truthful - if the decision is not to say they are applying for joint credit, then they don't sign.

If the single borrower's name is typed under the top line, and even if a "reminder" in 40 inch type saying every borrower must sign that line is in the instructions - if the borrower refuses, I don't say a word. N/A replaces the signature.

The purpose of the paragraph and sig lines was meant to remind joint creditors that both and each are responsible for the debt for which they are applying.

The ambiguity of the language is at fault here. I've never had a problem with the borrower's decision by any entity, in all these years.

Reply by LKT/CA on 4/25/10 4:37pm
Msg #333430

Completely disagree.............

A single borrower SHOULD sign the top of this form. The form says: IF this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below).

The line does not say it IS an application for joint credit, it says IF....."IF" being the operative word. The statement does not apply to a single borrower and does not negate the need for a single borrower to sign the top.

The forms also says: This application is to be completed by the applicant(S) with the Lender's assistance. Applicants should complete this form as "Borrower" OR "Co-Borrower,"........

That top line is for a single borrower to sign as well as a borrower with co-borrower. Again, the sentence says IF.....it does not say it IS.

Totally appropriate for a single borrower to sign the top of this form and I make sure ALL single borrowers sign the top of this form.

Reply by Jack/AL on 4/25/10 4:51pm
Msg #333434

What LKT said ... that's my understanding and method. n/m

Reply by BossLadyMD on 4/25/10 5:03pm
Msg #333436

may be appropriate for you, but NOT required

LKT, you pasted this from your previous post. And I still disagree. 'IF' is the operative word, yes. However, long before we get involved, it's already been well established as to whether or not this is a joint application for credit. The 'IF' is answered before you get to the table. It's almost like going to a signing and saying "You may have a co-borrower, I'm not sure, but 'IF' you do, sign here because the application says that you should sign it anyway". The borrower will think you're nuts. The lender knows that it is only one application for credit weeks before you get the paperwork so the 'IF' is no longer an issue or concern of yours.

Here's what you're not understanding. When there are TWO borrowers, there are TWO 1003s on file with the lender. Therefore, each person MUST sign the top of each others forms. With one borrower, there's only ONE 1003. There is no such thing as a joint application for credit with only ONE 1003 on file, so the signature at the top of the page is not required for just ONE borrower. You keep using the word 'appropriate' for a single borrower to sign the top.

It is not a requirement and therefore not worth a trip back at your expense to get re-signed.

Reply by LKT/CA on 4/25/10 5:28pm
Msg #333444

Re: may be appropriate for you, but NOT required

<<<LKT, you pasted this from your previous post.>>>

You're wrong....what I wrote today is what I wrote today. You know what they say about assuming......just don't do it.

<<< The borrower will think you're nuts.>>>

Wrong again....borrowers NEVER think I'm nuts.

<<<With one borrower, there's only ONE 1003. There is no such thing as a joint application for credit with only ONE 1003 on file, so the signature at the top of the page is not required for just ONE borrower....>>>

You're correct...there is no such thing as a joint application for ONE borrower....yes, that is correct. The top of the 1003 is not ONLY for joint borrowers.

<<<.....so the signature at the top of the page is not required for just ONE borrower.>>>>

Sure, it is. Did you read the paragraph? It says: Applicants should complete this form as "borrower" OR "co-borrower" AS APPLICABLE. That paragraph does not negate a single borrower.

<<<It is not a requirement and therefore not worth a trip back at your expense to get re-signed.>>>

Never had a problem having it signed. Those that don't get the top of the 1003 signed by a single borrower are the one's that have to go back at their expense.....not me, I get it signed. If the lender wants it signed at the top, it IS a requirement. The paragraph and subsequent sentence in and of itself does not negate a single borrower. The issue here is about what the lender wants. You're practicing UPL deciding what IS and IS NOT required.

This issue really isn't debatable, because the lender wants the top of the 1003 signed, period, so get it signed.

<<<The lender knows that it is only one application for credit weeks before you get the paperwork so the 'IF' is no longer an issue or concern of yours.>>>

True, what is done with loan paperwork weeks before is not my concern but the paperwork in front of me at the time of the signing IS my concern and the lender says have the top of the 1003 signed by the SINGLE borrower.

Reply by Linda_H/FL on 4/25/10 5:31pm
Msg #333445

Re: may be appropriate for you, but NOT required

"When there are TWO borrowers, there are TWO 1003s on file with the lender. Therefore, each person MUST sign the top of each others forms. With one borrower, there's only ONE 1003. There is no such thing as a joint application for credit with only ONE 1003 on file, so the signature at the top of the page is not required for just ONE borrower. "

Really? When I have two borrowers I have one 1003 with both borrowers listed - the only time I've had separate 1003's for them is when one is a non-occupant (son with father helping out).. or I have an additional 1003 when there's a third borrower...

Reply by MW/VA on 4/25/10 5:03pm
Msg #333437

Discussion & debate are good. Advising the borrower

could be construed as UPL. IMO they have signed a 1003 during the app. process, and sign another one w/the final loan docs. I've always had them sign the top line, and never had an issue.

Reply by BossLadyMD on 4/25/10 5:38pm
Msg #333446

confirmation of single or joint app is now UPL...lol!

Each borrower who reads that short paragraph understands exactly what it says. I dont shove stuff in front of people and say sign here. And I dont smooth over stuff for fear that they will question a signature line. And lastly, I dont lie to people just to avoid a confrontation with the TC or SS. And since when is obtaining clarification on a single or joint loan application considered UPL??? lol Are you serious?

I have never had an issue when both lines are left blank when there is no joint application.

Reply by LKT/CA on 4/25/10 5:57pm
Msg #333454

Re: confirmation of single or joint app is now UPL...lol!

<<< And since when is obtaining clarification on a single or joint loan application considered UPL??? lol Are you serious?>>>

Here's what you wrote:

......I was shocked at the number of people on here who allow a borrower to sign anyway and write N/A on the co-borrower signature line although they are not supposed to.........

.......I have never had a borrower sign on that line, unless there is a co-borrower as this line is used to confirm a 'joint credit' perusal.

.......I think we need to get the companies to understand that if a borrower signs a line indicating that 'they' are applying for 'joint credit' that is INCORRECT.

.......Ask the TC or SS to identify the co-borrower for you first.

Hmmmmmmm.......none of the above sounds like "obtaining clarification on a single or joint loan application"......sorry, but it certainly sounds like UPL to me. JMHO

Reply by BossLadyMD on 4/25/10 6:28pm
Msg #333466

On joint credit applications, TWO signatures are required

and in matters where there is only a single applicant, no signature is required. The End!

P.S. You don't need a law degree or notary commission to comprehend!

Reply by Susan Fischer on 4/25/10 6:39pm
Msg #333470

There have always been two camps. I've always read it

as an 'If, Then': If this an application for joint credit, then both must sign...

If NOT, then no sig required, because it's not an an application for joint credit.

I just can't parse it any other way, but then I'm hard-headed, 'though not unreasonable...

Reply by Linda_H/FL on 4/25/10 6:44pm
Msg #333472

I agree Susan...that's how I read it too

unfortunately, all those who hire us do NOT read it that way and I've had them returned for signature or had instructions emphasizing that 1003 is to sign the top no matter what..

That's my point...I do what I'm told since that's what I'm hired to do...and in no way do I tell the signer(s) this does or does not apply to them.

Reply by LKT/CA on 4/25/10 7:42pm
Msg #333483

5 Star Post, Linda H/FL !!! n/m

Reply by MW/VA on 4/25/10 8:40pm
Msg #333489

I agree. 5 star post, Linda.***** n/m

Reply by BossLadyMD on 4/25/10 6:52pm
Msg #333476

Re: There have always been two camps. I've always read it

Agreed. Maryland is not a community property state and the TC and SS from CA or FL (most of them are) get nervous and want it signed anyway. But I make it a point to remind that to read the line just above the two signaure lines..

--If this application is an application for joint credit, borrower and co-borrower each agree that we intend to apply for joint credit (sign below)--

Clearly having a single applicant sign based on what I've read does not hurt and I'm just pointing out that having them not sign does not hurt either!

Reply by LKT/CA on 4/25/10 7:16pm
Msg #333481

Re: On joint credit applications, TWO signatures are required

<<<On joint credit applications, TWO signatures are required>>>

I agree.

<<<and in matters where there is only a single applicant, no signature is required.>>>

I disagree, since first line of the paragraph says: "The application is designed to be completed by the applicant(s) with the Lender's assistance." Do you know what it means when the letter "s" is in parenthesis, as opposed to not in parenthesis? It means the sentence applies to ONE signer or two.

<<<The End!>>>

Continue to ignore your client's instructions by deciding what does or doesn't apply to the borrowers and what they are or are not required to sign and the END just might come for your working relationship with those clients. Hey, it's your choice.

<<<P.S. You don't need a law degree or notary commission to comprehend!>>>

You do need a law degree to not commit UPL. Good luck, I hope your insurance premium is paid and the policy is up to date.

Reply by Susan Fischer on 4/25/10 9:03pm
Msg #333491

First, I don't tell the borrower anything. I ask the one

borrower to read the paragraph. As I said, if the borrower decides to sign? (S)he signs. I've heard people say not just "no," but "hell no, I'm not signin' that." For those who say, "What does that mean?" I just shrug and say, "I'm not qualified to answer that."

I've never had a single problem in over six years, and many lenders have "No signature required" under the first line for a single borrower.

If both single and joint borrowers sign the application on several pages, and under oath on the last page, what is the purpose of signing the Joint Application line? Why is the paragraph, (which, by the way, is an addition to the 1003 some years ago,) even there? I know if I were auditing 1003s, if there was only one signature at that top paragraph, I would expect to be seeing a co-borrower information and signature on the rest of the app.

After thousands of signings, my clients continue to be well-served, because I do good work, conscientious work, competent work. Your tone is a bit harsh, simply because I don't agree with your interpretation or approach to this question.

By the way, I went to law school. I know exactly how *not* to commit UPL.

Reply by LKT/CA on 4/25/10 9:55pm
Msg #333496

Re: First, I don't tell the borrower anything. I ask the one

Susan, I quote the post I'm replying to.......didn't quote anything from your post, therefore, I'm not responding to you.......

<<<First, I don't tell the borrower anything. I ask the one borrower to read the paragraph.>>>

*Who* said you did?

<<<By the way, I went to law school. I know exactly how *not* to commit UPL.>>>

The one accused of committing UPL was that person that TELLS borrowers that they don't need to sign on a certain line as it does not apply to them since there's no co-borrower. Since you say you don't tell borrowers anything but just ask them to read the paragraph - I guess *you* weren't accused of committing UPL.....so why announce that you went to law school and know how not to commit UPL if you weren't accused of it?

<<<After thousands of signings, my clients continue to be well-served, because I do good work, conscientious work, competent work.>>>

Good for you. Keep up the great work.

<<<If both single and joint borrowers sign the application on several pages, and under oath on the last page, what is the purpose of signing the Joint Application line? Why is the paragraph, (which, by the way, is an addition to the 1003 some years ago,) even there? >>>

How would I know.....or even care?!?!

<<<Your tone is a bit harsh, simply because I don't agree with your interpretation or approach to this question.>>>

Susan, I find your post quite strange as no one claimed you "tell borrowers anything" nor have *you* been accused of committing UPL, yet you write as if you're the subject of those accusations......very bizarre to me!

Reply by Susan Fischer on 4/25/10 10:02pm
Msg #333497

Since your response was under my post, I took it to

be a response to it. Combine that with:

"Continue to ignore your client's instructions by deciding what does or doesn't apply to the borrowers and what they are or are not required to sign and the END just might come for your working relationship with those clients. Hey, it's your choice.

<<<P.S. You don't need a law degree or notary commission to comprehend!>>>

You do need a law degree to not commit UPL. Good luck, I hope your insurance premium is paid and the policy is up to date."

Under my post, sounded like it was directed at me. My apologies if you meant someone else, and perhaps you could identify the "you" and "your" in your post just so it's clear to whom you were speaking.

Reply by LKT/CA on 4/25/10 10:46pm
Msg #333503

Re: Since your response was under my post, I took it to

<<<Under my post, sounded like it was directed at me. My apologies if you meant someone else, and perhaps you could identify the "you" and "your" in your post just so it's clear to whom you were speaking.>>>

Regardless of where a post falls, whatever is in the middle of <<<.......>>> is to whom I am responding and automatically identifies the "you" and "your", as demonstrated above.

Reply by CF on 4/26/10 11:42am
Msg #333542

It is not the job the notary to determine what is for

signature and what it not. Some lenders have DO NOT SIGN or NO SIGNATURE REQUIRED printed on the top line....that is the only time that I do not have the 1003 signed. All other signers sign that top line even if they are the only borrower. I have completed thousands of signings and I have never been questioned about it.

Reply by BossLadyMD on 4/25/10 9:53pm
Msg #333494

LKT - keep doing what works for you and i will do what works

for me. your continuous bogus reference to UPL is getting old - give it a rest. i enjoy a fruitful and rewarding relationship with several lenders who appreciate my professional work ethic. and since you happily agree to do whatever a lender dictates that you do, i hope your insurance premium is paid and the policy is up to date.

Reply by LKT/CA on 4/25/10 10:14pm
Msg #333499

Re: LKT - keep doing what works for you and i will do what works

<<<...your continuous bogus reference to UPL is getting old - give it a rest.>>>

If you want to make this out as if I'm the *only* one accusing you of committing UPL - others mentioned UPL before I eluded to it - then you can continue in delusion. Yes, I will continue to do what I am hired to do and you can continue doing what you do.

<<< i enjoy a fruitful and rewarding relationship with several lenders who appreciate my professional work ethic.>>>

Well, goody goody for you.

Reply by Maureen_nh on 4/25/10 9:36pm
Msg #333492

If the instructions say that the borrower (1) should sign then I have them sign. If they are wrong that's their problem. If there is a single borrower, there is a single applicant and one income being considered. I don't ask them to sign if there is one applicant borrower. If they notice it, I request that they read it and make their decision.
Even the handholders with their faxbacks and nit picking have never sent me back on this.
By the way, we are a marital state.
This is beginning to sound like an abortion debate, no winners.

Reply by Susan Fischer on 4/25/10 9:55pm
Msg #333495

Yup. Two camps. n/m

Reply by BossLadyMD on 4/25/10 10:14pm
Msg #333498

I agree Maureen! 5 Star Post*****

Maureen, I agree with you. But we're not going to some notaries on this forum to disclose what they say to a single borrower who questions the need to sign once they figure out that it dont apply to them. I wonder why. Every single applicant that I have met with understands that paragraph and will not sign that line. Mysteriously, the loan still funds....must be magic!

Reply by Virginia/PA on 4/25/10 10:51pm
Msg #333504

Re: I agree Maureen! 5 Star Post*****

I've had conflicting instructions from one settlement company than another. One says single borrowers should sign, and another says don't sign. So I don't think they really have a set in stone directive either. That's why there's two lawyers in every lawsuit. One interprets a legal statement one way - the other interprets the same legal statement in another way.

Just for argument sake, take the same introductory language and apply it to a totally separate document - not a 1003. "This document is to be completed by the applicant(S) with the Lender's assistance. Applicants should complete this form as "Borrower" OR "Co-Borrower,"

Please note that it does say "OR" and it does not say "AND".

"IF this loan is for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below)." which could also be interpreted to mean that if it is not a joint application, then there is no joint binding.

Would you leave that document blank if there was only one borrower?

Reply by Susan Fischer on 4/25/10 11:23pm
Msg #333507

Yes, I would Virgina, and for these reasons:

""IF this loan is for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below)." which could also be interpreted to mean that if it is not a joint application, then there is no joint binding.

Operative phrases being, in this example: "could also" and "then there is no joint binding". If I were to be confronted with this language on any document I were signing for a loan, either as a single or with another borrower, personally, I wouldn't sign that form, because it would not be clear what the heck it meant. Neither of those phrases are terms of legal art (~could also~ and ~joint binding~?).

As to your please note: I'm either A (as in single Borrower) OR B (two or more applying for joint credit.) I cannot possibly be both. That's why it says "OR". You're either one or the other - you can't possibly be AND.

I can only speak for me, not a borrower(s), you understand.

Reply by Lee/AR on 4/25/10 11:59pm
Msg #333511

I use the KISS approach

With a single B, print 2 of the first page, sign one, initial the other, if needed. They can pick whichever floats their boat. No return trips, nobody angry, end of story.

Reply by Art_MD on 4/26/10 8:22am
Msg #333523

If signed and they don't want it, they can print a new page n/m

Reply by Linda_H/FL on 4/26/10 8:33am
Msg #333525

Will work providing first page doesn't require initials.. n/m

Reply by CJ/Alaska on 4/26/10 1:26pm
Msg #333549

Re: Will work providing first page doesn't require initials..

Print (2) copies of 1st page?? Have one signed, One NOT signed, Initial the bottom of both 1st pages... then You aren't the one 'making the decision' as to which form the TC or Lender uses and it becomes someone else's Problem

Reply by PAW on 4/26/10 8:50am
Msg #333527

As I have stated numerous times over the past year and a half. In an older post, Lisa stated:

"... you are misinterpreting the entire reason for the single borrower signing on the top. The lone sentence does not negate the paragraph above it. As a matter of fact, the sentence starts with IF.....now if the IF does not apply, then it doesn't apply. But certainly the paragraph above it does apply."

This is where all the confusion lies. The paragraph that immediately precedes the 'IF' sentence has been on the 1003 for eons. It is not new. Only the last sentence, which is the only part that requires a signature, is new and only that sentence makes a the reference to signing the top of the app.

When the new form was made, it was poorly designed to add the 'IF' sentence. The purpose of that sentence was to eliminate the requirement for the form that never seemed to get included in the package which stated if the application was for joint credit, all applicants needed to sign it so stating. In less than 1% of the application packages contained the designated form. To alleviate the situation, that one sentence and signature lines were added to the top of the 1003.