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#831760 - 10/10/07 06:07 PM Borrower Overseas
mgs41 Offline
100 Club
Joined: Jan 2007
Posts: 167
Borrower is active military and is away on duty. We have collected CIP on 2 or the 3 customers on loan. Loan was executed on his behalf by his Power of Attorney. Generally we require the ID of both the borrower and the POA. Our CIP doesn't address this situation where the borrower is not available due to active military location. Recommendations?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#831791 - 10/10/07 06:39 PM Re: Borrower Overseas mgs41
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,421
You have a copy of the POA and you CIP'd the person signing for the borrower overseas, correct? Document the file explaining the situation and you're done. Actually, you were done when you closed the loan without any additional CIP. Now you're just explaining why.

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