Here's an excerpt from the Instructions for Completing 1003:
"Section 1: Borrower Information 1a. Personal Information
○ I am applying for Individual Credit
Select if you are the only Borrower applying for the mortgage loan.
○ I am applying for Joint Credit
Select if there are two or more Borrowers applying for the mortgage loan.
Your Initials
This field only applies if there is more than one borrower applying for the mortgage loan. Each borrower initials their own Section 1a."
http://singlefamily.fanniemae.com/delivering/uniform-mortgage-data-program/uniform-residential-loan-application
(scroll down to Guidance, Form 1003 Instructions)
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