Hi Derrick,
I understand your concerns, however to play Devils' advocate here. The Lender, TC or whomever is depending on proof of ID sight unseen. They have people to answer to as well. And having a copy of a current valid PICTURE ID plus the NSA's statement of fact in viewing and collecting such is just good business practice.
If a borrower objects then the best thing for them to do is take off of work and travel to the company's offices that they are borrowing money from and conduct business person to person. Our business is one of convenience both to the borrower and the Lender's, TC etc. Rules and regulations have to be put into place to ensure a measure of security in lending funds on real property.
I am not discounting the real threat of identity theft posed since 9/11, however, I do feel that we can "secure" ourselves out of business with such a narrow point of view.
A borrower usually tells me "I already sent them a copy of my DL". And I respond that comparison of them is a way for TC or Lender to make sure that the person the NSA sees is the same person that applied for the loan (which is usually done over the internet or phone to start with).
I have NEVER had a borrower refuse once I have explained in this manner. And it goes without saying that I make sure I respect their confidentiality and secure their identity information.
ON another note, most states are discontinuing the printing of SS #s on DL instead printing "number on file". My bank told me 4 years ago to NOT put my SS# or my DL # on my checks. To not SIGN my Debit or Credit Cards but to instead put SEE ID in the signature space.
We do all we can by staying informed but still we must move forward and make our job the best it can be.
jmho
tannis zamora TN |
