As of October 1, 2003, the USA Patriot Act requires to collect information from borrowers to confirm their identity.
Each piece of identification must meet an item on the list below.
Acceptable identification must meet the following requirements:
- The identification must contain a photo of the borrower
- The identification must contain the Borrower’s name
- The identification must contain the Borrower’s date of birth
- The identification must contain a street address (individuals only)
- In the event that the individual does not have a street address, the loan originator must collect a military P.O. Box number or street address of next of kin or another contact individual.The identification must contain a Taxpayer ID Number (Social Security Number).
For non-US citizens (conscripted members of the Armed Forces) the identification must contain a taxpayer ID number, passport number with country of issuance, alien ID card number, or other foreign-issued picture ID.
It is not necessary for each piece of identification to meet all of the requirements (per id). However, all requirements must be met with a combination of identification.
Acceptable primary forms of identification are:
- Valid Driver’s License
- Valid State issued ID card (must include photo)
- Military ID
- Social Security Card
Acceptable secondary forms of identification are:
- Birth Certificate
- Current Utility Bill
- Medicare Card
- Student ID
- Voters Registration
- Tax Bill Receipt
- Vehicle Registration
- Credit Card