Answer:
Online applications are subject to the same regulations as paper applications. In addition, if the online application triggers an instant disclosure requirement (HELOCs and ARMs, for example) you must handle it electronically. If you plan to process the loan electonically, and post-application disclosures are necessary, you must first obtain the applicant's informed consent via ESIGN.
First published on BankersOnline.com 10/09/06