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Steps to Lend on an ITIN (No SSN)

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Wondering what specific steps we need to take to lend on an ITIN. We have a large population of Hispanics that have ITIN instead of SSN. What documents should we receive? If documents are expired should we lend to them?

Lending to non-resident aliens has it own risks that a bank must weigh. A non-resident alien may leave the country (deported or voluntarily) depending on their specific circumstances at any time. This may make collecting on your loan problematic. How you mitigate such risks is up to the bank. There are no standard answers to the questions that you have presented.

First published on 04/13/2015

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