Mortgage companies wants my bank account numbers

[Erik Belinfante]

I am closing on two properties with two different mortgage companies and both are demanding my bank account numbers!

I have 8 properties and never had to do this on previous mortgages. Is this a standard demand now?

[Adam Martin]

Bank account numbers really aren’t all that private and are at the bottom of every check you have ever written.  For my mortgages I had to provide statements and I could either do it electronically where they had access or email them they didn’t care.  I was all about the electronic link so I didn’t have to do it.  You have protections from fraud through your bank so this is not a bill to die on.  In fact in ky it is the law that all my tenants know the account number for their deposits and if they don’t I can’t withhold from it.