Skip to main content

FHA begins accepting e-signatures on third-party docs

NationalMortgageProfessional.com
Apr 15, 2010

The Federal Housing Administration (FHA) in Mortgagee Letter 2010-14 has announced the acceptance of electronic signatures on third party documents included in the case binder for mortgage insurance endorsement as long as they are in accordance with Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA), as applicable. This policy will apply to forward mortgages and Home Equity Conversion Mortgages (HECMs). Mortgagees must ensure that the electronic signature and date are clearly visible when viewed electronically and in a paper copy; and that they use the same level of care and due diligence with electronically signed documents that they would for paper documents with “wet” or ink signatures. This letter also contains a reminder to mortgagees that the origination case binder must be maintained in either hard copy or electronic format for two years from the date of endorsement. Click here to view the full text of FHA Mortgagee Letter 2010-14.
Published
Apr 15, 2010
Fitch Places Fannie, Freddie On Negative Ratings Watch

Ties credit rating to outcome of U.S. debt limit negotiations.

FHFA Director Strongly Defends New GSE Pricing Framework 

Tells House committee it’s “simply not true” that financially stronger borrowers are subsidizing others.

MBA CEO Criticizes Government Response To Economic Challenges

CEO Bob Broeksmit calls for sensible Regulation, clarity, and support for the mortgage industry.

Freddie Mac Updates Income Assessment Tool To Use Digital Pay Stubs

Says new capability helps lenders calculate borrower income more quickly and precisely.

MISMO Seeks Comment On Updated Closing Instructions Format

The new set of enhanced work products designed to create a common format for closing instructions. 

Fannie Mae Executes 5th Credit Insurance Risk Transfer Of 2023

Covered loan pool includes about 53,000 single-family mortgage loans with a UPB of approximately $18.1 billion.