We run an OFAC scan during the application process for all loans. As mortgage loans sometimes close a month or more after the initial scan, we do another scan just prior to funding. We don't feel we need to do this for personal loans which are mostly funded within a few days after approval. However, we run a scan every night on new accounts and so these are scanned at that time. We want to be in line with best practices. Therefore, please advise when you run your scans for loans, besides at time of application. Thanks.

We run them during the credit process and after that our database is scrubbed nightly against OFAC.
We don't do another scan prior to funding.

We do an OFAC scan by credit report, which is early in the loan process. When any new customer is created and added to our system, another OFAC search is completed. For loans, it would happen the day of closing before the loan documents are printed.

We run at time of application then again at funding. After that it is scrubbed nightly.

Thank you, everyone.