He checked the box that says the current residence is owned by him, not by a “family/friend”.
That box is for “living with family or friend.”
We need to be careful reading “office use” documents as if they are Federal Government documents.
When I worked for a bank we took information to confirm an identification. I don’t think we “took the applicant’s word” for much beyond giving us their name, DOB and SSN.
Everything else is pretty much available on line. Their employer filled in most of the rest.