Cx886 is given pursuant to the provisions of Cal. Civ. Code § 1799.91 (West 2012), which require a specific-language disclosure to be provided to “each person who does not in fact receive any of the money, property, or services which are the subject matter of [a] consumer credit contract . . .” (Ibid. § 1799.91[a]). This requirement does not extend to non-purchasing spouses.
Due to these requirements and exclusions, we will be configuring Cx886 to print only when a cosigner is present in a loan transaction. It will also be modified so that only cosigner signature lines print on the document.
These changes will take effect on February 1, 2013. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
January 25, 2013