USA Patriot Act Form in Loan Documents

 

An extremely common form found in today’s loan documents is known as the USA Patriot Act Form. The purpose of this form is to help the government fight identity fraud and prevent money laundering activities. This is a very important document in a loan signing package.

 

The Loan Signing Agent will always have to obtain a government photo issued ID as a means of identification. However, the form will sometimes require a second means of identification as well. There are many types of government issued identification that can be used. State Issued Driver’s License is the most common used identification. A State Issued ID Card, Passport, Military Id Card are other types of acceptable identification. The information that the Loan Signing Agent fills out on this form includes the following: the issue date of the ID, County and State of origin, ID number, date of birth, and expiration date of ID.

 

If a second means of ID is required, the most commonly used one is a Social Security Card. The signer can also provide the Loan Signing Agent with a government issued visa, a property tax bill, a most recent W-2, a paycheck stub with the signer’s name, or a Birth Certificate.

 

It is the responsibility of the Loan Signing Agent to fill in the data of this form accurately. The Loan Signing Agent must sign and print their name on the form. By doing so, they are attesting to the fact that they have seen and accurately recorded the information pertaining to the type of identification that is being used for the attestation.

 

 

 

 

 

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