A A Mortgage Corp.
is located in downtown Manchester, MO,
one block
west of
Woods Mill Rd.14346 Manchester Rd
in West County.
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Rules Concerning Extension of Credit
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Extension of Credit
A lender may not refuse to grant an individual account to a creditworthy applicant on the
basis of sex, marital status or any other prohibited basis.
Applicant's Name(s)
A lender may not refuse to allow an applicant to open or maintain an account in a birth-given
first name and surname that is the applicant's birth-given surname, the spouse's surname or a
combined surname.
Signature of Applicant's Spouse or
Other Person:
In general, a lender may not require the signature of an applicant's spouse or other person,
other than a joint applicant, on any credit instrument if the applicant qualifies under the
lender's standards of creditworthiness for the amount and terms of the credit requested. If an
individual applicant requests credit to be secured, the lender may require the signature of the
applicant's spouse or other joint owner of the collateral on any instrument necessary or
reasonably believed to be necessary under state law to make the property being offered
as security available to satisfy the debt in the event of a default. In California, applicable
state law requires all owners of personal property to sign in order to encumber the property.
Therefore, the lender may request the non-applicant spouse or other parties to sign a security
agreement or other instrument to secure a lien on the property, but not the promissory note.
With transactions involving community real property, both spouses must sign the deed of trust in
order for the lien to be perfected for the lender. Non-applicant spouse's signature should never
be requested on the application or the promissory note. |
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