Posted by Anonymous on 9/28/05 7:25am
Msg #67727

ID Documents - 1 or 2 REQUIRED???

I always ask for 2 forms of ID (DL and Birth Cert or SS Card). I had a co signer who only had a DL and she had kids at the same school as mine - I had seen her, etc. I have been on the other side of the table and provided two docs of ID. What if a person only has a DL? I feel confident with that but I see a lot of people wanting 2 forms of ID. Is that a REQUIREMENT? I'm in NC....

Reply by Art_MD on 9/28/05 7:29am
Msg #67728

It depends on the lender/title co. Some want one, some two.
What is required to do a notarization, is state specific. Please post your state.
Also, many lenders don't allow use of a SS card as ID.
Not having read the 875 page patriot act, I don't know if it is specific.

Art

Reply by PAW_Fl on 9/28/05 7:52am
Msg #67731

The requirement for two forms of ID is lender specific. One form with picture and physical description is mandated by the Patriot Act, but the second is a confirmation of name, address, signature, etc. required by the lender. Many lenders do not require a second form of ID.

As for using Social Security cards as identification is frowned upon, and as of February this year, many lenders following the lenders guidelines no longer will use a SS card, but do include a form to the borrowers must sign allowing them to validate the SSN with the Social Security Administration. The reason that SS cards do not make good ID's is because they are too easy to counterfeit.

If you look at the Identification Verification form that many lenders use, it will list acceptable forms of secondary ID, such as voters registration cards, utility bills that show the borrowers name and address of the property, etc. They frequently (and recently) do NOT include social security cards as acceptable ID.

Reply by Art_MD on 9/28/05 8:03am
Msg #67732

Re: ID Documents - validation of ss #

When I am reviewing the docs with the borrower before signing, when I come to the form allowing verifcation of SS#, I say " this form give them permission to check and insure that the SS# is valid and that you are not a terrorist in hiding, feeding money to Al-Keida". Often lightens things up. As a note, I'm careful about saying this if it appears that the borrower may be of middle east extraction.

Art

Reply by Anonymous on 9/28/05 10:40am
Msg #67770

Re: ID Documents - validation of ss #

Sounds like racial profiling Art , gotta be p.c. lol