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One Would Think...
Posted by  Dennis D Broadbooks of MO on 5/4/07 8:43am Msg #188765
...after two years of utilizing this new language in the 1003 there'd be a "uniform" interpretation of its meaning & how the borrower(s) should sign. Personally I can see both sides of the argument as its been presented here in this thread & other past postings, but believe the "intent" is to have the lines on the 1st page signed ONLY when the two borrowers are applying for joint credit. To be on the safe side it probably does make sense to have them sign both ways on separate forms & let the powers that be decide which is correct, discarding the other. Great idea, Brenda.

BTW, I've never had a 1003 returned to me for correction when a borrower applying for the loan on his/her credit alone didn't sign the 1st page. I've also never been instructed to have a single borrower sign on the 1st page of the 1003 & I've asked multiple TC's repeatedly if they should.
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Messages in this Thread
 new 1003 - Mary Irene Mccomb on 5/3/07 7:28pm
 Re: new 1003 -  Lisa Prestegard on 5/3/07 8:11pm
 Re: new 1003 - Lisa -  Sylvia_FL on 5/3/07 10:27pm
 Re: new 1003 - Lisa -  Lisa Prestegard on 5/3/07 11:10pm
 Re: new 1003 - Lisa -  LynnNC on 5/4/07 8:10am
 Where? - JanetLA on 5/3/07 9:01pm
 No, it really isn't open to interpretation -  Lisa Prestegard on 5/3/07 9:52pm
 Re: No, it really isn't open to interpretation - GF_CA on 5/3/07 10:24pm
 Re: No, it really isn't open to interpretation - pan/nd on 5/3/07 10:25pm
 Yes, it could (and should) be more simply put... -  Lisa Prestegard on 5/3/07 11:03pm
 Re: Yes, it could (and should) be more simply put... - pan/nd on 5/3/07 11:15pm
 From one mouse to another, I couldn't agree more -  Lisa Prestegard on 5/3/07 11:27pm
 YES it really IS open to interpretation - JanetLA on 5/4/07 8:28am
 Agree, JanetLA. I have single BOs put 'N/A' to show (s)he -  Susan Fischer on 5/5/07 10:59pm
 Re: new 1003 -  Joe Ewing on 5/3/07 10:48pm
 Re: new 1003 -  Joan Bergstrom on 5/3/07 11:12pm
 Maybe this will explain it... -  Lisa Prestegard on 5/3/07 11:24pm
 Re: Maybe this will explain it... - pan/nd on 5/3/07 11:37pm
 PAW has convinced me that the intent of the regulatory.... - Bob_Chicago on 5/4/07 1:15am
 Think who we are and what we do -  Ndwa on 5/4/07 2:41am
 Re: Think who we are and what we do -  Lisa Prestegard on 5/4/07 6:39am
 Crazy as it seems -  BrendaTx on 5/4/07 7:20am
 Re: Crazy as it seems - LauriecPA on 5/4/07 8:20am
 I do both ways... - Lee/AR on 5/4/07 8:30am
 One Would Think... -  Dennis D Broadbooks on 5/4/07 8:43am
 Re: One Would Think... - JanetLA on 5/4/07 8:56am
 Why Not? - Brad/AZ on 5/4/07 9:47am
 Re: One Would Think... -  BrendaTx on 5/4/07 12:57pm
 Re: new 1003 - Elizabeth Soliday on 5/4/07 12:40pm



 
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