There is often confusion regarding the distinction between a
guarantor and a co-signer, and the situations where it is permissible to
require a guarantor or a co-signer on a loan. Do you understand the
legal prohibitions against requiring a spouse to be a guarantor or
co-signer? Are you aware of the new rules regarding proving that
applicants applied for joint credit? The Equal Credit Opportunity Act
and Regulation B are a major focus of the NCUA and the CFPB, so your
credit union must be welltrained in this complicated area.
Besides reviewing the related laws and regulations, this webinar will
explain the proper procedures to use when evaluating the use of a
guarantor or a co-signer and when proving that applicants applied for
joint credit. This webinar will also address the proper procedures to
obtain a security interest in jointly-held collateral while not
violating the laws and regulations. After participating in this webinar,
you will be prepared to answer examiners’ questions on this
Differences between a guarantor and a co-signer
Restrictions on requiring a spouse to guarantee or co-sign
When can you require a spouse to sign a security agreement?
How to prove that applicants applied for joint credit
Specific provisions that should be included in guaranty and security
When is it acceptable to go against the guarantor before going
against the borrower?