Answer:
It is acceptable to ask the applicant(s) the information and complete the information based on their response if you read them the disclaimer, much like a phone application.
First published on BankersOnline.com 12/03/07
Must GMI be in Customer's Handwriting?
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Question:
During a face-to-face loan application interview, does the borrower have to complete the government monitoring information in their own handwriting? In most cases, applications are being originated on loan origination software. Is it acceptable for the originator/lender to orally state the GMI statement to the borrower and input the borrower's response so it displays on the application document in typewritten form?
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