LendingArt | Investor Information Center - news, guidelines, programs, and mortgage related business information

Investor Name	Category	Sub-Category	Description

Chase	Credit	Authorized Users	The term “Authorized User” means a creditor has given permission to the obligor on the account to allow a spouse or other to make charges to the account as an authorized user. Usually, this is without contractual obligation to repay, except under any specific terms identified by the creditor or by any state laws. For the purpose of evaluating creditworthiness, accounts that the borrower (either individually or jointly with another party) is obligated to pay by contractual arrangement with a creditor must be considered. Additionally, other accounts where the borrower is a permitted user or non-obligor on a spousal or ex-spousal account must be considered in evaluating the borrower’s creditworthiness under the specific circumstances outlined below. In some circumstances, a borrower may be an “authorized user” only on a revolving account. If the “authorized user” is not a spouse or former spouse, at the borrower’s request, the Lender will consider the account in the evaluation provided the borrower can evidence that he/she has been paying the debt.
CitiMortgage	Credit	Authorized Users	AUTHORIZED USERS OF CREDIT – ALL LOAN TRANSACTIONS: Payments on “Authorized User” accounts should always be included in the debt-to-income ratio unless written documentation (i.e. 12 months cancelled checks) is provided proving that the owner of the account is making the payments. If an authorized user’s account is used to meet the minimum credit requirements, then both the payment history, including any late payments, and the monthly obligation must be considered in the credit analysis and included in the DTI ratios. If the AUS approval is based on authorized user account trade lines, lender must confirm these accounts accurately reflect the borrower's credit history.
ING Mortgage	Credit	Authorized Users	Authorized user accounts are not considered trade lines.
SunTrust	Credit	Authorized Users	Credit report tradelines that list a borrower as an “authorized user” can NOT be considered in the underwriting decision except in the following instances: • If another borrower in the mortgage transaction is the owner of the tradeline, or • The borrower can provide written documentation (e.g. canceled checks, payment receipts, etc.) that he or she has been the actual and sole payer of the monthly payment on the account for at least 12 months preceding the date of application. Note: If there is written documentation of the borrower’s monthly payments on the authorized user account, the payment history (particularly any late payments that are indicated must be considered in the credit analysis and the monthly payment must be included in the debt-toincome ratio.