A married couple applies for a joint mortgage, but only one spouse provides their Social Security number, stating the other spouse 'doesn't want to be on the loan.' Both names appear as borrowers on the application. How does this affect application completeness?
Correct Answer
B) The application is incomplete until both Social Security numbers are provided
If both spouses are listed as borrowers on the application, both Social Security numbers are required for application completeness under TRID. The application must either be completed with both SSNs or modified to remove one spouse as a borrower if they don't wish to be liable for the debt.
Why This Is the Correct Answer
If both spouses are listed as borrowers on the application, both Social Security numbers are required for application completeness under TRID. The application must either be completed with both SSNs or modified to remove one spouse as a borrower if they don't wish to be liable for the debt.
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