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Effect on Secondary applicant

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I am in the process of purchasing a home with my fiancee - he is to be primary and I am to be secondary/co-applicant on the mortgage loan. We are both on the title.

#1 Will our payment history report on both of our credit reports?

#2 Is there any disadvantage to being the secondary/co-applicant?

#3 We pursued the loan separately with different banks with the intention of adding the other once we got the best interest rate. We chose my fiancee's bank - he told them I would also be on the title and gave them my name/ss# to run. The bank called back yesterday to say everything would be ok, but they said they won't need to re-do the paperwork...they told us to "write-in" my name/ss# on the front page and send everything back with my fiancee's signature where indicated. Will I be at risk anywhere for not having the bank re-do these documents?

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