Loan to be secured by an vehicle for the purpose of putting a fireplace in the homestead.
Vehicle titled to husband or wife.
Wife was present during the application but made it clear that she travels all the time and was most likely not going to be present for the loan closing and that the loan should be made just to the husband.

Husband comes in and in the closing package there is an hypothecation agreement for the wife to sign.
Loan officer is questioning the necessity of the hypothecation agreement and quite frankly I am too. We have the marital purpose agreement on the back of the note and the title was "or". Is an hypothecation agreement necessary for this type of loan?

Any opinions on this matter would be greatly appreciated!

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