New Disclosure if Change to Husband Name Only?

Answered by:

Question:

If the original loan application package was issued for a husband and wife and signed by both but later changed the loan to husband's name only, can the original disclosures (not 1003) be used or would a new set be required in the husband's name with his signature only?

Answer:

I would think the disclosures are still valid. I would just document the file that one of the borrowers requested to withdraw from the application. There are no regulatory based signature requirements on early disclosures.

First published on BankersOnline.com 10/29/12