Housing News
FHA to expand acceptance of electronic signatures
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Jim Duncan
June 7, 2010 at 7:59 pm
Now, if we can just get the processors, the underwriters, the lenders … to accept them. They are the hold up. I’ve sent the FHA memorandum to lenders who send them to the underwriters who return the answer, “No.”
Progress is a difficult thing.
Melanie Wyne
June 8, 2010 at 11:05 am
Jim,
“Progress is a difficult thing.” Amen.
Joe
June 8, 2010 at 9:32 pm
One step closer to paperless, eh! That’s what we like about DocuSign. We are eliminating paper, now if we can make money without having to deal with clients… [grins]
An Bui, DocuSign Social Media
June 8, 2010 at 11:49 pm
Melanie, Thanks for helping spread the word about FHA’s policy on eSignatures.
Jim, we’re working with the lenders & other third parties about eSignature acceptance. Please let us know if you want us to talk with your lenders.
Best,
An
Nick Sweeney, DotLoop Social Media
June 9, 2010 at 8:25 am
This, of course, is great news.
I find it odd, however, that the FHA is a full decade behind the times. The ESIGN and UETA Acts of 2000 made electronic signatures as legally valid as “wet” signatures – this is how you are able to buy items off of eBay or Amazon without having to put a Bic pen to your screen.
By the way, any lender not “accepting” electronic signatures is in violation of the law.
Thanks for reminding us of the new FHA acceptance.
Doug Francis
June 9, 2010 at 3:20 pm
Hey, isn’t that a DocuSign ad on the right sidebar?
Kidding aside, I am glad that the FHA is issuing guidance since this is a good service.
Fred Romano
June 11, 2010 at 1:12 pm
DocuSign is amazing! I could not run my business as smoothly without it 🙂