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Question 1 of 3
1. Question
VERIFYING A BORROWER IDENTITY
A mortgage lender begins the customer identification process for a new borrower applying for a residential mortgage loan.
Which information may the lender collect to help verify the borrower identity?
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Question 2 of 3
2. Question
VERIFYING A BORROWER IDENTITY
A lender wants to confirm that identification information provided by a borrower is accurate before approving a mortgage application.
Which method may the lender use to verify the information?
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Question 3 of 3
3. Question
VERIFYING A BORROWER IDENTITY
A mortgage company closes a borrower account and later reviews its record retention obligations related to identity verification documents.
How long must the company generally retain records of the information used to verify identity?
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