Hey good morning,

If a Borrower consents to E-Sign and we send out the NOI to the Borrower, if the Borrower doesn't "view" this document are we still allowed to Incomplete the file after the NOI expires. Is viewing a requirement of the Regulation for this particular document? I originally was thinking no, but now that I've gone back and re-read several things under esign, etc., I'm thinking I might be incorrect in my assessment.

Thanks!
Karen

It's been a while since I worked with Reg. B, but I don't recall any requirement to confirm receipt of a properly delivered notice of incompleteness. Does such a rule now exist?

I didn't think there had been any Reg B changes regarding this, but also know that sometimes Regs can overlap each other so again didn't know if there was something in Esign that affected the NOI document being required to be viewed. I read thru E-sign and read the electronic disclosure portion again in Reg B, but everything starts to be so confusing that I thought I should ask the experts!

My thoughts were it would be the same as mailing to a degree...who knows if they opened their mail or threw away? This isn't a verification document in order to approve the loan or giving them estimates or final figures...so my original thoughts were it's not required to see if it was viewed before we Incompleted the file.

ESIGN does only two things:
1. legalizes electronic signatures, and
2. makes electronic documents the legal equivalent of paper.

Delivery timing, document content, and the need (if any) for acknowledgement of receipt are matters controlled by the law or regulation that requires you to provide certain disclosures or information (Reg. B in this case) in writing. Since Section 1002.9(c)(2) requires you to "send a written notice (regarding incompleteness) to the applicant," then for this purpose you must use either paper or ESIGN-enabled electronic documents. You have chosen to march consenting applicants through ESIGN's informed-demonstrable-consent process. That gives you the right to use e-documents without violating Reg. B. Since Section 1002.9(c)(2) does NOT require you to confirm receipt...regardless of delivery method...you're done!