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Refinancing and the Patriot Act
Posted on 09/30/2003 2:46:13 PM PDT by Lijahsbubbe
My loan officer was required to complete a Patriot Act form for my mortgage application today. My proof of identification was my driver's license. This will be no impediment for illegals with driver's licenses.
TOPICS: Your Opinion/Questions
KEYWORDS: patriotact
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To: Lijahsbubbe
Yep, those terrorist realestate speculators must be stopped!
2
posted on
09/30/2003 2:50:31 PM PDT
by
agitator
(Ok, mic check...line one...)
To: Lijahsbubbe
Effective September 24, 2001, President Bush issued Executive Order 13224, (as amended by Order 13268), which requires anyone conducting a financial transaction to determine if the person(s) with whom they are doing business are listed on the Blocked Persons List. In addition, the USA Patriot Act of 2001 requires similar checks and procedures.
3
posted on
09/30/2003 2:51:47 PM PDT
by
free me
To: agitator
LOL. One day Krispy Creme, the next day, the world!
To: Lijahsbubbe
a Patriot Act form THAT'S what he called it - is it indeed as he described it?
5
posted on
09/30/2003 2:53:00 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: _Jim
Well, no. I don't recall exactly what he said, but the form said PATRIOT ACT in bold letters on the top, and he said it was a new form. Why?
To: Lijahsbubbe
I'm wondering who your bank is ...
In response to the terrorist attacks on September 11, 2001, the US Congress passed the USA PATRIOT Act. Parts of this Act apply to the financial services industry and require certain financial institutions to request specific information from foreign banks on a "certification" form.
This site focuses on that portion of the legislation requiring bank certifications and is designed to address many questions you, our clients, may have.
www.ml.com/patriotact/
7
posted on
09/30/2003 2:59:37 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: _Jim
Effective 10/1/03, banks have to obtain certain information from prospective borrowers/customers in order to comply with the Patriot Act. The information is mostly stuff banks already use for underwriting, but now it is all on one form. We also have to notify the customer that we are requesting this information to comply with Federal law.
8
posted on
09/30/2003 3:00:39 PM PDT
by
halfdome
To: halfdome
Thank you.
To: Lijahsbubbe
Also see:
www.ots.treas.gov/pagehtml.cfm?catnumber=272 BSA/Patriot Act This page collects guidance and other resources about Bank Secrecy Act (BSA) and USA PATRIOT Act (USAPA) compliance, including antimoney laundering and counter terrorist financing.
10
posted on
09/30/2003 3:06:45 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: Lijahsbubbe
the form said PATRIOT ACT in bold letters on the topSounds like a form the financial institution put together itself - none of the forms actually required are worded that way here:
Regulatory/BSA Forms and Filing Information
11
posted on
09/30/2003 3:22:37 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: free me
F***ing stupid.
12
posted on
09/30/2003 3:38:11 PM PDT
by
dr_who_2
To: dr_who_2
DIG DEEPER - that was an internal 'bank' form thusly headed with that term (so I have surmised and deduced from my on-line research) ...
13
posted on
09/30/2003 3:40:47 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: _Jim
Our government has dug deep enough.
14
posted on
09/30/2003 3:47:22 PM PDT
by
dr_who_2
To: _Jim
(so I have surmised and deduced from my on-line research) ...No, you're wrong. See post #8.
To: dr_who_2
I'm wondering how this squares with banks accepting the "matricula" as valid ID. It seems to me the government wants to have all this data on American citizens, and too many are complying without complaint.
To: Lijahsbubbe
No, I'm not wrong.
Go to the link in post #11 and download a few of those forms - THOSE are the forms required to be filed by your bank - and you will NOT see them titled "PATRIOT ACT" ...
Your bank created some internal forms to satisfy a number of requirements that they have to meet - using one form apparently titled "PATRIOT ACT".
17
posted on
09/30/2003 3:55:19 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: _Jim
What, do you think you know more than my loan officer, or halfdome because you looked it up online? There is life outside the internet, with real people doing real jobs. Sheesh.
To: Lijahsbubbe
What, do you think you know more than my loan officerYes, I do.
There *are* no forms outside the world of your bank labeled 'Patriot Act' ...
19
posted on
09/30/2003 4:04:26 PM PDT
by
_Jim
(Resources for Understanding the Blackout of 2003 - www.pserc.wisc.edu/Resources.htm)
To: _Jim
Yes, I doBwahahaha.
I am always leery of people who insist they're right all the time.
Just like when I remarked I didn't recall so many large power outages in such a short time, and you replied "all speculation, no fact." When I showed you the proof that the outages were historic in a short time frame you disappeared. No acknowledgement of my response.
It's okay to be wrong _Jim, it really is. Everyone on this board has been at one time or another.
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