LDP/GSA government search (patriot act)

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.

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.

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

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The gsa site is https://www.sam.gov/portal/SAM/?portal:componentId=78d3f342-d23f-424a-a04a-d978528069c2&interactionstate=JBPNS_rO0ABXc0ABBfanNmQnJpZGdlVmlld0lkAAAAAQATL2pzZi9uYXZpZ2F0aW9uLmpzcAAHX19FT0ZfXw**&portal:type=action#1

The ldp site is https://www5.hud.gov/ecpcis/main/ECPCIS_List.jsp

On both of those you can search by name only....you would only need an ID number if you had a potential match.

But as a general rule, if a mortgage person asks you for information it's because they need it. People who try to fight back and argue it back and forth just end up shooting themselves in the foot and/or delaying things. None of us mortgage folks WANT to follow up on more paperwork. We are paperworked out!

Oh - and I should add. The reason things come up last minute is because we are so over regulated that everyone has NUMEROUS audits and checks of the files that occur at multiple times in the process. The file is reviewed, reviewed, and reviewed again by different people and for different things. If something comes up at the last minute it is because there was an error on some form that someone caught. Just advise customers to read it, understand it, sign it and move things along so it won't cause delays. The staff of the company can explain the form if there is uncertainty.