A business services account can be created using the Social Security Number Verification Service (CBSV) based on the SSA`s consent by clicking on this link: www.ssa.gov/bso/bsowelcome.htm. With this account, completed and signed SSA-89 forms can be sent to the SSA for processing. The fee includes a one-time deposit fee of $5,000 and a fee per SSN verification transaction. Please note that transaction fees charged by CBSV are subject to change at any time. Verification service providers that offer SSA-89 processing have typically invested in technology and workflow. Orders are placed and processed online and in real time through system integrations with SSA. Workflow wrappers ensure that forms are filled out to be complete and accurate before the order is sent to the SSA for execution. A complete and accurate form should include the borrower`s full name, date of birth, social security number, address, and personal phone. The form must also be signed and dated. The date of signature is verified before the form is sent to the SSA, as the form is only valid for 90 days after signing. Forms with verification issues are returned to the lender for correction.
Lenders are responsible for ensuring that the information they provide is consistent with the information provided by the borrower. If the search reveals areas that do not match, the lender is responsible for the investigation. For example, a name conflict might be due to two transposed letters. It is possible that a person has changed their surname for everyday use, but the person may have forgotten to make the name change at the Social Security Administration. Form SSA-89 is the Social Security Administration `SSA) verification form for releasing the Social Security Number (SSN). Form SSA-89 authorizes the Social Security Administration (SSA) to verify that the name and combination of the SSN number match the data in the SSA files and to submit the results of the verification to the applicant or his agent named in the form. Our online system allows a customer to quickly and easily attach the mapped file of the completed SSA 89 form signed by the borrower to the electronic order. The SSN audit report is returned in PDF format within minutes and contains the client reference number and timestamp for their files.
A lender can use an SSA 89 form to prevent identity fraud. Completing this form is not a requirement to obtain a loan from all lenders. The government does not require lenders to conduct this review. Form SSA-89, Authorization for the Social Security Administration to Disclose Social Security Number (NSS) Verification, is a form for obtaining data from the United States. Social Security Administration (SSA) to allow a third party to prove the link between a person`s name and their SSN. This verification is a mandatory requirement for mortgage lenders, credit check agencies, etc. It protects you from fraud and identity theft. For example, when it comes to mortgages, lenders want to know that borrowers are really who they say they are. This is a crucial part of the pre- and post-employment selection process. The SSN verification form proves that you are indeed assigned an SSN.
When specifying your SSN, use a secure and unambiguous method to identify yourself. In many cases, mortgage lenders or banks require this document as a safeguard against identity theft. Usually, you don`t need to be the one to initiate the form filling out process. On the contrary, a third party is the one that usually asks you to sign it at the appropriate time of the business transaction process. Lenders are not required to conduct an NSS review, but it is a good first-pass fraud prevention step that provides lenders with information that confirms an applicant`s name and the SSN`s compliance with SSA records that helps validate identity and reduce the risk of fraud. Form SSA-89 effectively verifies that a name and SSN combination matches the data in the SSA records. It is typically used for a background or pre-employment check, credit check, job search, mortgage, license, and insurance. The CBSV provides real-time validation of an individual`s personal data – full name, social security number, date of birth, and death indicator that help mitigate identity theft and fraud.
Get accurate information about a candidate`s identity while minimizing the risks associated with your business by detecting fraud. The SSA Form 89 Audit Report enables lenders to fully meet the mortgage industry`s Social Security Number (SSN) verification requirements, including the Fannie Mae Loan Quality Initiative. The SSA-89 effectively verifies that a combination of name and (SSN) matches the data in the Social Security Administration (SSA) files and is delivered directly to the SSA. Providing your Social Security Number (SSN) is a unique and secure way to identify yourself. But even this method is prone to fraud, especially if your SSN falls into the wrong hands. In situations where you need to prove that the SSN you provide is the number assigned to you, you can use Form SSA-89. In this guide, we will discuss what the form is, who should use it, how to fill it out, and how to submit it. If you sign the form, your consent is valid for 90 days, unless you indicate otherwise. If the 90 days pass and the company still hasn`t verified your information, you`ll need to sign another copy.
For this reason, you should remember to date the form and sign it. It is also important that you provide all your information very carefully as it appears in the SSA records. Otherwise, the review process may be delayed or unsuccessful. If you knowingly fill out this form with false information, you could be fined up to $5,000. The consent-based SSN verification form is different from other social security forms. When you download, print and fill out a paper version of the form, you can simply send it by email or forward it to the third party who requested it and whom you indicated in the form. After that, the company or its official registers with the CBSV and receives the actual verification of your social security number via the form. Then you will be able to proceed with every business transaction you go through.
The Consent-Based Social Security Number (CBSV) verification service is run by the SSA and is typically used by companies that perform credit checks, provide mortgage and banking services, meet licensing requirements, conduct background checks, and more. Any NSS holder may request a review. It should be noted that the CBSV does not verify citizenship, identity or eligibility for employment. The lender uses SSA-89 to prevent identity fraud by verifying the SSN and name with the SSA. The lender is not required to conduct the SSN review for all or part of the loans. The SSA or the government does not require the lender to conduct an NSS review. Form SSA-89 allows you to prove that you are true about your identity and your NSS. While this level of proof is probably superfluous in most situations, some financial institutions and other businesses like to be very careful when doing business. If you are undergoing a background check for a job that includes a security clearance, or if you are applying for a mortgage, these parties want to be absolutely sure of your identity. By allowing the SSA to verify your information, you can gain that credibility and get things done. This form is necessary if you need to prove your social security number to a company or agency.
You may want this review – or a third party may request it – for a number of reasons. You can apply for a mortgage, undergo a background or credit check, apply for a personal loan from a bank, or apply for a special license of one kind or another. In some cases, banks or mortgage lenders need this form as a safeguard against identity theft. In other cases, employers may request it as part of a background check. The form itself is quite short and only takes one page. You will need to provide your name, date of birth, and Social Security number. You must also indicate the reason why you are requesting a confirmation, as well as information (including name and address) about the third party who will receive it. You also have the option to list the name and address of an agent of the company that is performing the actual verification. You do not need to provide any supporting documents or additional documents for this form to take effect. .