Closing disclosure sent eSign on 8/14. We received customer's eSign consent acknowledgment on 8/14 and customer went back into document and 'signed' it on 8/15. File is noted that 'closing clock' started on 8/15. Wouldn't clock have started on 8/14, the date we received eSign consent acknowledgment?

Thanks.

I guess I would ask if the eConsent was received before or after the eDisclosure. I would guess if your system is identifying as you describe that the eConsent came after the disclosure so it doesn't acknowledge the delivery until the borrower logged in again after delivery of the eDisclosure on the 15th. Otherwise I would look at your settings...there is a lot of information missing from your question to give a reason for the dates.

The clocks when they open the package. If all they did was give consent to E-Sign on 08/14 but did not actually open the document package that you sent, then 8/15 is your date.

Okay, got it. I went back and looked at the electronic history. They gave consent on 8/14 and 'viewed' the packet on 8/14 but went back in and signed on 8/15. So, clock would have started on 8/14. Thank you.

Yes - unless you or if you have an investor that requires signatures to start the clock. Most investors do.

No investors for us. Thanks again.

Question regarding delivery of LE through eSign. Application date was 2/19; LE needed to be delivered by 2/24.

If we sent the LE through eSign on 2/24 and have evidence that we sent it on that day is 2/24 considered the delivery date for purposes of within 3 days of the application? We have evidence of eSign consent on 2/25 and the customer viewed on 2/25. One side in my camp is stating that we can't control when the customer opens the electronically delivered disclosures just like we can't control if the customer received the disclosures if they were mailed. Also, the regulation states we have to 'deliver' not that the customer has to 'receive'.

The other side is saying that the customer has to show consent to receive by eSign (which was 2/25) and we have missed our 3 day window.

You are late. Without previous E-Sign consent, the LE was not delivered until 2/25 when they gave you consent.

As always....thanks Randy.

If you are using e-sign for the early disclosures, then you need to put in controls to detect when the applicant has not consented by the third day so you can mail the earlies out without having a violation.

FWIW I agree with Randy and CB. The LE was not provided "in writing" until day 4.