Document Updates: Notice to Cosigners/Guarantors

We have recently completed a review of cosigner/guarantor requirements for several states. We determined that many state statutes use the terms cosigner and guarantor nearly synonymously. Therefore, we created the following Notice to Guarantor forms to print separately for guarantors and print guarantor signature lines when applicable:

• • CO Notice to Guarantors (Cx27378)
  • SC Notice to Guarantors (Cx27379)
  • WV Notice to Guarantors (Cx27380)
  • ME Notice to Guarantors (Cx27381)
  • IA Notice to Guarantors (Cx27382)
  • Notice to Guarantors (Cx27383)
    

These documents will print by default for the above states under the same print conditions the corresponding Notice to Cosigner documents print, but instead of printing when Print Notice to Cosigner (FI 41686) is ‘Yes’, these new Notice to Guarantor copies will print when Guarantor On Loan (FI 186048) is ‘Yes’. Field 186048 gets set to ‘Yes’ when any of the following fields are set to ‘Yes’:

FI 51807 Borrower 1 Is Guarantor
FI 51808 Borrower 2 Is Guarantor
FI 51809 Borrower 3 Is Guarantor
FI 51810 Borrower 4 Is Guarantor

In addition, our NE Notice to Cosigner, (Cx13029), has been modified to print cosigner and guarantor names and signatures as applicable.

These changes are on Stage servers for testing and will take effect on February 15, 2024. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.

DR-148378

Update: We are also updating the following co-signer forms to print separately for guarantors and print guarantor signature lines when applicable.

• • CA Notice to Cosigners (Cx886)
  • NY Notice to Cosigner (Cx12871)
  • NE Notice to Cosigner (Cx13029)

These changes are on Stage servers for testing and will take effect on March 12, 2024. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.

DR-149074

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.