A and B are listed as borrowers on the application, it's just on the note, it gets sticky, as the note has the trust as a borrower too. Could have been in an abundance of caution from a legal standpoint to ensure the bank could get to any trust assets should there be a default.
Agree that there is no BO question here.
There is no question around CIP / CDD for the individuals. The trust would have the identification number of one of the individuals and the same address. The trust document is received for underwriting review, so there is verification. As long as that information is there, there is no regulatory violation. Agree or disagree?
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These opinions? "Mine! Mine! Mine!"