The Mortgage Bankers Association (MBA) has sent a letter to Acting Assistant Secretary for Housing—Federal Housing Administration (FHA) Commissioner Robert C. Ryan requesting that the FHA allow for the use of electronic signatures for all mortgage origination forms required by the FHA. In the letter, Mortgage Bankers Association (MBA) Senior Vice President of Public Policy and Industry Relations Steven A. O'Connor emphasizes that e-signatures will reduce processing issues that impair the homebuying process by reducing the volume of lost paperwork, decreasing signature fraud, lessening the time required to close a loan and may lead to lower borrower costs. "E-signatures would reduce costs for activities such as, printing and mail couriers for both borrowers and lenders," said O'Connor in the letter. "These benefits eliminate many of the annoyances of a paper-based process, including lost or inconsistent documents. In addition, consumers would have greater flexibility and convenience within the home buying process because they would not have to change documents and related signing processes if they changed from a conventional loan to an FHA loan." Click here to view a copy of the letter.