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#1270400 - 10/21/09 01:53 PM Electronic Signature
Whodunnit? Offline
Member
Joined: Apr 2005
Posts: 75
Wondering if electronic signatures are acceptable for loan documents, including note & mortgage?

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Lending Compliance
#1271186 - 10/22/09 11:56 AM Re: Electronic Signature Whodunnit?
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
Yes.

ESIGN and the various state UETAs legalized e-signatures and e-delivery of documents. Before launching out in this direction, however, you would be wise to have your bank's attorney research any litigation relating to electronic signatures and documents. Of particular interest would be any case where a court threw out a contract or found disclosures (RESPA, flood, Z, etc.) to be unacceptable due to defects in the ESIGN process followed by the lender.

If these loans are to be sold to investors, you will also need to confirm that e-signatures are acceptable to each investor.
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