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#165660 - 03/02/04 05:52 PM on-line home loan applications
HubbaBubba Offline
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Joined: Sep 2002
Posts: 311
We will be offering on-line applications for home loans. The application will be e-mailed to a loan officer. First question - will this application need to be signed or is having it submitted via the internet enough?

Second - will the servicing disclosure need to be signed?

Third - how will the Reg B signature requirements (as of 4/15/04)come into play? How will we know if the wife wants to apply for joint credit (assuming the husband is filling out the on-line application)?

THANKS FOR ANY HELP!!

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eBanking / Technology
#165661 - 03/03/04 02:54 PM Re: on-line home loan applications
reinkesd Offline
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reinkesd
Joined: May 2003
Posts: 232
Connecticut
My recent experience is that everything that occurs in a in-person/mail submission must occur in an internet submission.

In other words, all signatures, disclosures, etc. must be in place. The one exception is the disclosures that do not need to be signed (such as CHARM booklet) can be provided online as long as the customer cannot get around them.

This is kind of a general response, but should point you in the right direction. If you need more specifics, feel free to PM me.

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#165662 - 03/03/04 03:17 PM Re: on-line home loan applications
SusyG Offline
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Joined: Oct 2001
Posts: 120
Look at this website www.fremontbank.com. Go through and start applying for a home loan and you will see where the disclosures need to be. I believe this is one of Al Miller's banks. It was a great reference source for me.

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#165663 - 04/22/04 03:45 PM Re: on-line home loan apps - still confused
Anonymous
Unregistered

so with all e-disclosures in place, does that mean we do not need to eventually get the internet submitted application actually signed later?

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#165664 - 04/23/04 12:25 AM Re: on-line home loan apps - still confused
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,502
On the Net
To a large degree that is up to you and whether you want that information "validated". If you sell off these loans the investor may want signatures, but the federal regulations do not require signatures in may places. Apps are not on the list if "sigs required".
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