What additional procedures are required of lenders by the new USA Patriot Act?
To comply with the USA Patriot Act, we must implement certain customer identification programs to verify each applicant’s name, address, date of birth and identification number. We may request a copy of a social security card on all applicants who will be on the loan but who are not currently employed (for employed borrowers we can generally obtain the social security number off paystubs or W-2s so it is not necessary to obtain a copy of their social security card). In addition, depending on your situation, we may also request additional documents to help us verify your identity.
