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#2244305 - 10/20/20 02:50 PM Loss Mitigation Notices Through Electronic Means
JD Offline
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Joined: May 2015
Posts: 19
When providing the written notice acknowledgments and written notice of any loss mitigation options we might offer them, are these allowable through electronic means (ex. email)?

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Mortgage Servicing Rules
#2244312 - 10/20/20 03:23 PM Re: Loss Mitigation Notices Through Electronic Means JD
Diane Dean Offline
Member
Joined: Oct 2012
Posts: 92
While Section 1024.41 does not address electronic delivery, section 1024.32(a)(1) states that electronic disclosures may generally be used, as long as you follow E-Sign:

(a) Disclosure requirements. (1) Form of disclosures. Except as otherwise provided in this subpart, disclosures required under this subpart must be clear and conspicuous, in writing, and in a form that a recipient may keep. The disclosures required by this subpart may be provided in electronic form, subject to compliance with the consumer consent and other applicable provisions of the E-Sign Act, as set forth in ยง 1024.3. A servicer may use commonly accepted or readily understandable abbreviations in complying with the disclosure requirements of this subpart.
_________________________
Diane Dean
http://www.bankerscompliance.com

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#2244329 - 10/20/20 05:50 PM Re: Loss Mitigation Notices Through Electronic Means JD
JD Offline
New Poster
Joined: May 2015
Posts: 19
As always, I thank you very much for your guidance! Have a great day.

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