Why would our buyers’ mortgage lender need to have copies of our driver’s licenses and SSN’s?
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Why would our buyers’ mortgage lender need to have copies of our driver’s licenses and SSN’s?
We are under contract to sell our house. We have already moved, as we were locating to a new state and wanted to go sooner than they could close. We have a common last name, and our buyers’ mortgage lender contacted us and asked for copies of our drivers licenses. Now they want copies of our social security cards. Is this normal?
Asked on January 6, 2012 under Real Estate Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Presumably, they feel the need to verify that you are who you are, and not someone else with your common last name who has perhaps committed some sort of fraud and/or who has multiple liens or judgements against them, which can impact the ability to transfer good title. Remember: it's voluntary on banks to provide loans; if you don't help your buyers meet the banks requirements, the bank would give them a loan.
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