is a morgage broker suppose to know yor ssn number?

Asked by Dave, 60302 Thu Apr 21, 2011

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Donna Karpav…, Agent, Oak Park, IL
Thu Apr 21, 2011
If you have given him/her permission to run your credit report, yes.
1 vote
Tim Moore, Agent, Kitty Hawk, NC
Thu Apr 21, 2011
Not sure if they are suppose to know it, but they will certainly ask you for it. After 911 the laws changed regarding your private information and they will need to know it to help verify who you are. Many people have or will have your SSN from the IRS to banks to credit card companies. It's just a fact of life these days.
1 vote
Ron Rovtar, Agent, Boulder, CO
Thu Apr 21, 2011
Hi Dave:

In this day and age, you will have to provide your social security number and a lot more personal information. Not only does the mortgage company have to satisfy itself that you can pay back the loan, it also has to look forward to the possibility that it will package your loan and sell it of others. Those others, whether they are private investors or Government-Sponsored Enterprises like Freddie and Fannie, will insist that every "i" is dotted and every "t" is crossed. Your SS# will be used to obtain your credit score and to help confirm other paperwork.

0 votes
Suzanne Hami…, Agent, Orland Park, IL
Thu Apr 21, 2011
Yes - you do need to sign paperwork to allow them to pull your credit and tax returns if you are applying for a loan. Those papers say that they are under the privacy act and must protect your information.

When you are applying for a loan, a loan officer and mortgage company will need to have a lot of information, including tax returns, credit card numbers, bank statements, etc.

They are loaning you a lot of money, so they need all the information on you. They are licensed by the state and the privacy act to keep your information confidential.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Apr 21, 2011
If you're utilizing his/her services for your mortgage needs, yes.
0 votes
Don Tepper, Agent, Burke, VA
Thu Apr 21, 2011

Otherwise, the mortgage broker is unable to proceed in trying to find a lender for you.
0 votes
Pacita Dimac…, Agent, Oakland, CA
Thu Apr 21, 2011
If you're applying for a loan, and your lender needs to verify the informaton you provide as well as run a credit report, yes.

Generally, when applying for a long, your lender will ask for:
2 Year 1040's all schedules
2 years w2's
1 month paystubs
Current YTD Profit and loss (depending on your profession)
2 months ALL PAGES Bank Statements
copy of current ID
0 votes
Marion Digre, Agent, Oak Park, IL
Thu Apr 21, 2011
Hi Dave,

In order to get pre-approved for a mortgage or to actually get a mortgage, you will have to provide your social security number and permission for the lender to pull your credit report. It is customary and necessary for them to ask for this information on a mortgage application. I hope that helps.

0 votes
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