LDP/GSA government search (patriot act)

By
Real Estate Broker/Owner with Silver Hill Realty
http://actvra.in/4nZ7

SHORT VERSION: 

I have a deal set to close this Thursday.  The lender e-mails me 2 days ago asking me for my SSID & my TID.  He claims that it is a condition for underwriting.  I ask him what he needs my personal information for and he claims that it's a new underwriting check through the LDP/GSA governement search (patriot act).  I have never dealt with this guy before and i have never heard of needing my SSID nor my TID for a client to get a loan.  Has anyone ever had to give their personal information to their clients lender?

LONG VERSION:

I admit that I am a control freak.  I like to be in charge of everything so that I know whats going on at all times.  I explain to clients upfront that I can do as little or as much as they want me to do, however I will only accept responsibility for what they allow me to do.  Once I complete my buyer presentation and show them why they need to leave everything in my hands I give them an authorization form to fill out and give me permission to have my people handle everything.  The only thing I encourage them to do is shop other lenders and my guys will match or beat their rate.

Her family member referred a mortgage person to her and she chose to use him.  He wanted to do the entire transaction including title and appraisal.  I informed her that she already signed off that I would handle getting those things ordered and she had already signed off on it.  Being that she was very adamant about how he already ordered everything (even though i had already as well) I agreed to cancel all my people, however she would have to accepet responsibility for everything as she is taking away complete control from me.

Just as I feared, the weekend before we are supposed to close everything is becoming a mess.  The lender failed to inform her of several items and costs that she would need for the closing.  He failed to request the signing of several documents and he waits until the last minute to aske for my personal information without giving me opportunity or information as to research why he needs it.

I just want to know if anyone has ever had to give their TID and SSID as a condition for their buyer to recieve a loan?  here are the links that he provided as explanation:

 <!--StartFragment-->https://www.epls.gov/epls/search.do?reset=true&ssn=true

https://www5.hud.gov/ecpcis/main/ECPCIS_List.jsp

 

your responses are appreciated as this guy claims that if he doesnt have it this morning we wont be able to close.

close

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Topic:
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Location:
New Jersey
Groups:
South Jersey
New Jersey & Pennsylvania -- Realtors/Loan Officers/Title Clerks/Real Estate Lawyers
Brokers Helping Brokers "Life really is about helping others"
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Tags:
new hud guidelines
ldpgsa government search
patriot act

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Rainer
126,249
Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv
REISA - 317-663-4173 - Indianapolis, IN

Short version
If you want the deal to close give them the info

Long version
FHA requires a LDP/GSA from all parties involved in the transaction.

Oct 26, 2009 07:48 AM #1
Rainer
141,626
Robert Savage
Bakersfield Property Solutions - Bakersfield, CA
Bakersfield Short Sales, Property Management, Cash

I am regularly asked by the title company to supply my company's tax id number. Never been asked to provide my personal tax id.

Oct 26, 2009 09:19 AM #2
Anonymous
Bob Johnson

My mom is in the process of closing with an FHA loan.  She was asked the same thing last week.  After satisfying a few other questions, we are now waiting for the results.  It's ironic, but I was just getting online to google LDP/GSA.

 

 

Oct 27, 2009 07:03 PM #3
Rainer
4,033
Silver Hill Realty
Silver Hill Realty - Willingboro Township, NJ

thanks for your response, but i got to the bottom of it.  yes that is a new saftey issue they are working on, however it is a two fold process.  first there is a broad form search in which they can just use your name and your company.  if a match comes up, then the searching party would need the id of the party that is being flagged for a verification.

Bob, I hope that helps.

Oct 27, 2009 09:04 PM #4
Anonymous
Loan Auditor Phil

FYI from the lender side...

We are currently having our underwriters and auditors run LDP/GSA checks on anyone associated with the loan.  So do not be surprised if anything gets held up with future closings if your Title agent, Listing agent, buying agent, title company, selling agent and/or broker are found on the check.  Originally i remember only ever doing this check on FHA loans, but ever since the new RESPA guidelines hit, things have changed dramatically.  Also, some people are reluctant to assist in the LDP/GSA check because we do ask for tax ID/SSN.  

An example.. Last week i had a Title agent come up on the search by individual name.  First, Last name and Middle initial came up as a title agent in New York but this title agent claimed to never have lived in New York.  She was reluctant to verify her social security number or even birthday(ultimately how we cleared it) to verify she was not the same person on the LDP list.

So be mindful of all of this when you go to refi or purchase your home, try to be patient with your broker and/or underwriters.  They work very hard to try to make things happen, but lack of cooperation from key people can always hold things up.  It's a big catch 22 always has ben, always will be.  Good luck to you all.

Sep 24, 2010 11:44 AM #5
Anonymous
Jonathan Kennedy

This is the UW form that we need to fill for LDP/GSA. Welcome to the new world of doing loans.

http://www.pcmloan.com/getform.aspx?id=99

Nov 16, 2010 01:08 AM #6
Anonymous
Rickey Wallace

ok

Jul 26, 2012 08:15 AM #7
Anonymous
ok

ok

Jul 26, 2012 08:33 AM #8
Anonymous
ok

ok

Jul 26, 2012 08:35 AM #9
Anonymous
ok

ok

Jul 26, 2012 08:37 AM #10
Anonymous
ok

ok

Jul 27, 2012 11:42 AM #11
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Rainer
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Silver Hill Realty

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