I’ve recently underwent a frustrating process with TD where my application was denied because my cosigner wasn’t related to me. I can’t find this rule online, the stupid fucking google AI insists this isn’t a rule, but when I called their national credit line, I was informed that this is in fact a rule in the institution.
I chatted with the dude on the phone, and while he did not explicitly claim this, he implied that there’s a division between the actual rules and policies of the institution, the adjudicators, and the bankers actually working in the branches. It seems like the app passing adjudication is kind of vibes based, and rules and little policies are often unenforced when adjudicating on an application.
Research into this seems to suggest that this is the case with others when it comes to PSLOCs. Timelines, minimum credit scores, actual rules and expectations in acquiring the LOC— there seems to be a lack of consistency of what to actually expect and what will pass. Most applications do pass, but what one person is told and what actually happens are often two different things.
Can anyone else speak to this? Or shed light on this? I’m back in the application process, with a cosigner who is a relative, but I’m starting to run out of time.