When working with multiple borrowers, it is relevant if the borrowers are considered to be on the same 1003 or not. This will affect whether or not you can pull a separate or joint credit report, for example. Typically, a married co-borrower will have a joint credit pull and will be listed as the co-borrower on the same 1003 application as the spouse.
Users have full control over how their borrowers fall in the application.
You can change where a borrower is listed in the 1003s by doing the following:
- Edit the loan file.
- Go to Borrower Info in the loan file.
- Click Manage Borrowers at the top right.
From here, you will see the borrowers on the file. You can add borrowers or remove borrowers, as well as change where they fall on 1003 applications. See the below for guidance.
- Fields must be visible for the area where you are dragging and dropping a borrower. For example, you must click +Co-Borrower before a borrower can be dragged into that co-borrower slot.
- You will need to clear empty applications or application slots before proceeding.
- If you have a blank Co-Borrower, use the trashcan symbol at the top right of the appropriate co-borrower section.
- If you have a blank 1003 application, use the Delete 1003 option just above that application.
For an example of merging an application, please see the below:
If you pulled a merged joint credit report and need to split the report and pull credit separately, please see this guide: