We have all of our property in trusts, recently took out a home equity line of credit and get all our mail at a PO Box (at the expansive Alton Bay PO).
No problem getting the line of credit through BNH on our Welch Island property which is owned by our trusts. May use it as a bridge loan as we plan to buy & sell locally. The bank attorney did want to see copies of the trusts to make sure that we as trustees had the authority to buy/sell/mortgage real estate. BNH had no problem with the PO Box mailing address.
However like UP we ran into an issue with Toyota Financial Services (TFS) relative to physical address. We recently helped a granddaughter get an auto loan from TFS by having my wife co sign. They wanted proof of where the kid lived even though her license listed her home address. They wanted to nail down the physical address. When I asked why: simple answer they wanted to know where to send the tow truck if the loan was defaulted on. So UP while we know that you would never default, TFS is ready just in case.
