We had a couple apply for a construction loan for their primary residence. They filled out the application and we sent the L.E. based on the information we knew at the time. Since the L.E. was sent out the applicants have informed the officer they have a living trust that holds their assets.
If we add the trust as a guarantor will we have to re-disclose the L.E. showing the trust as guarantor?

Where do you list guarantors on an LE?

I could not see any way the guarantor would have to listed or a new L.E. disclosed but before I went back to the loan officer just wanted to double check. The officers think we make these rules up as we go.