COBORROWER Coborrower/Gaurantor Payment Notification Form

Description

A licensee with a loan from a regulated lender must submit to the department all mandatory disclosures and related documentation within 30 days of a payment on the loan by a coborrower, guarantor or pledgor. A licensee who is a coborrower or guarantor of a non-licensee’s loan from a regulated lender must submit Form 45 to the department with all mandatory disclosures and related documentation within 30 days of making a payment on the loan.