Yesterday was doing a refi and the borrower could not find his ID waited 30 minutes while he searched. Checked the rules could take the unexpired with two back ups one a Federal ID. He had that.
Get all the way done and in the driveway completing the trip report and he calls - found it. In the couch where ID goes to hide.
Ran in switched out the Patriot Act form and the Borrower Info sheet and uploaded current ID to SS.
Took way longer than normal but was really happy he found it. It was lucky I had nothing after that.
As far as I know, as long the identification that was used, was one of the accepted forms of identifications the lost driver’s license was a non-issue. Of course, we all have our own ways of doing things. I have used the following:
“Primary Forms of Identification
Financial institutions request primary forms of identification to establish a customer’s identity. These documents are government-issued and contain a photograph or other identifying features. Common examples include a state-issued driver’s license, a United States passport, or a military identification card. These documents serve as the initial and most direct means of verifying identity. They provide essential information such as name, date of birth, and often an address, which are required elements for a financial institution’s CIP. They must be unexpired and bear a photograph.
Secondary Forms of Identification
Financial institutions may request secondary forms of identification to corroborate information from the primary ID or to verify an address. These documents strengthen the “reasonable belief” about a customer’s identity. Examples include a Social Security card, a utility bill with the customer’s name and address, or a recent bank statement. Other documents might include a voter registration card or an employer-issued ID. Secondary IDs provide additional, independent verification, especially when confirming residency or addressing primary document concerns.” I just provided that information, so to be helpful to someone that may needed to know more…..
I was just very glad he found his current ID because acceptance of alternates can depend on the file auditor. So I was pleased it did not come to that.
There is another popular notary forum that does not allow posters to edit their posts; notaries over there are always complaining about not being able to edit. This forum does allow edits . I wonder if the above sentence is supposed to say “expired”. In my state, I’m allowed to accept ID that is expired by as much as 3 years, but the organization receiving the notarization might not allow that (if they know). From johnsonps306, it seems like the organization receiving the package would have allowed expired ID if it was accompanied by 2 backups.
. I wonder if the above sentence is supposed to say “expired”. In my state, I’m allowed to accept ID that is expired by as much as 3 years, but the organization receiving the notarization might not allow that (if they know). From johnsonps306, it seems like the organization receiving the package would have allowed expired ID if it was accompanied by 2 backups.