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FHA to accept DocuSign for real estate contracts nationwide

Apr 09, 2010

DocuSign, an on-demand electronic signature solutions, has announced that e-signed third-party documents, including real estate contracts, are now being accepted by the Federal Housing Administration (FHA). DocuSign spearheaded an industrywide effort to move the FHA to formally recognize e-signed third-party documents. The April 8, 2010 dated FHA Mortgagee Letter is the first in what is expected to be a series of responses to this initiative. With this policy statement from the nation’s largest mortgage insurer, real estate professionals can use DocuSign to get real estate contracts, addenda and other documents signed electronically, and their buyers can apply for FHA insurance with confidence. “We commend FHA’s action today. By clarifying its position on electronic signatures, the process of buying, selling and financing of homes across the country will be greatly improved,” said Ken Moyle, chief legal officer at DocuSign. “Buyers, sellers and agents can use DocuSign’s online process to eliminate the time, expense and environmental impact of printing, delivering and signing large stacks of paper documents, and mortgage lenders can take comfort in knowing that DocuSign’s e-signature process is designed for legal compliance in all 50 states and is fully evidenced by a comprehensive audit trail.” Real estate agents can quickly access the DocuSign e-signing service from any laptop with Internet access, drag and drop familiar yellow StickEtabs onto the contract and send the envelope. The recipient immediately receives an email notification that can be accessed through a computer or any Web-enabled mobile device, including Apple iPhone, RIM BlackBerry, Google Android, Windows Mobile, adopts an e-signature and signs the document. Once completed, an e-mail notification is sent to all parties with a link to the final executed document. The result is a legally binding, fully ESIGN-compliant document supported by a comprehensive audit trail. As on-demand software-as-a-service (SaaS), DocuSign requires no additional software or hardware purchases and no downtime for training. For more information, visit www.docusign.com.
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Apr 09, 2010
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