Required Signatures On TIL?

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Question:

I am refinancing a first mortgage for a customer. The customer is married and the loan is to only one party. The spouse is going to sign the mortgage and right of rescission. I am being told by the purchaser of the loan that the spouse also has to sign the truth in lending. Is that correct?

Answer:

Although Regulation Z does not require ANYONE to sign the transaction disclosure form, the golden rule trumps the regulation. If the investor requires it in order to buy the loan, then this signature requirement applies as a result of your agreements to document to the investors specifications.

First published on BankersOnline.com 05/5/03