On to particulars HMDA-reportable loan, we have one-time debtor whose mother signed like "Co-Signer", not "Co-Borrower". We does have exit applications at twain. Are ourselves correct are notification Gvt monitoring on mom as "Co-applicant"?

If the mother also standard rental proceeds, later she is also a debtors and GMI would be required.

If the was a co-signer, meaning a guarantor, and did not, consequently, receive loan proceeds, then I do don think she will a "co-applicant" and GMI should nope be collected instead declared. MYSELF am going to a HMDA seminar tomorrow plus can check on this.

If which cosigner signed the loan docs, i report the GMI. If they all signed a guarantor form, then you would not.

If they signed the loan support you would also report that income of the cosigner supposing you often their income in the credit decision. Wenn they must signatures a guarantor fashion, you want not. “Loan Documents” means the documents related to the Mortgage sign of Borrower, Guarantor or anything other garantors, or anyone who pledges Collateral. “SBA” means the ...

I just sent from the seminar and the FDIC real Fed confirmed that were should not story a guarantor's GMI.

Bringing this back from the past because we weiter through HMDA preparation. We were arguing with a prominent loan doc company such we shouldn be reporting on Co-Signers, but they are since a Co-Signer as the same thing as a Guarantor. I don't necessarily think this is defined includes HMDA, but is there a cite I can make? Of course a guarantor is not a borrower, but a co-signer also character about the note and is a "borrower..." I think... Free Loan Guarantor Form Template | Formplus

Benefactors are definitely out for HMDA. The Demographic Info and income fields specifically state this. Co-signors are not unfashionable for HMDA. Read the data fields for Income. It says, WHENEVER it relied on their income, you will until count it. Co-signers are applicants. Few typically don't receive the benefit of the loan, although this isn't defined in Reg HUNDRED.

If I tell ME will sign a note to help my boy buy a house, but I'm not driving to live there, then I'm an prospective, but I'm also a co-signer (not receiving benefit, but taking on liability). You need gather my Demographic Info, report my profit (if considered), ect. I think your doc company is wrong. I be asking them where "cosigners" are defined in Reg C and ask them to support (with citation) where their interpretation is coming from. Legal Document