Welcome!

News Feed Item

DocuSign Applauds FHA’s Progressive New eSignature Requirements for Lenders

DocuSign joins the rest of the United States real estate industry in applauding the Federal Housing Administration (FHA) Office of Single Family Housing’s expansion of lender authority to accept electronic signatures on documents associated with mortgage loans. The publication of Mortgagee Letter 2014-03 is the latest in a series of promised changes to advance eSignature acceptance on FHA-backed mortgages – making it easier, faster, more convenient, and secure than ever to close home loans with DocuSign.

FHA’s new policy complements and improves upon its earlier policy Mortgagee Letter 2010-14which was developed in close partnership with DocuSign – that only allowed for eSignatures on third party documents such as purchase and sale contracts and others not controlled by lenders. Today’s Mortgagee Letter 2014-03 encourages eSignatures on origination, servicing, and loss mitigation documents, as well as FHA insurance claims, REO sales contracts, and related addenda. The terms of Mortgagee Letter 2010-14 will continue to stand as well, so real estate professionals can work with confidence that eSignature acceptance is expanded to include a broader range of mortgage documents.

"FHA's broader acceptance of eSignature for mortgage lenders is a great step forward for brokers, agents, lenders, and their clients," said Ken Moyle, chief legal officer, DocuSign. "DocuSign is pleased to have helped shape this progressive legislation on behalf of our customers and partners. As the real estate industry standard for eSignature, DocuSign helps mortgage companies comply with all FHA eSignature requirements."

In a newsletter issued yesterday (FHA INFO #14-05), the U.S. Department of Housing and Urban Development stated, “The eSignatures policy announced today will help streamline the origination process and help reduce document submission timeframes for borrowers seeking options to avoid foreclosure,” removing barriers to close one of the most important documents individuals and couples will ever DocuSign – a mortgage.

The new FHA policy opens technology and innovation to facilitate and accelerate transactions with, for, and by mortgage lenders. It does not change the current process in which real estate professionals DocuSign purchase and sale agreements and other real estate documents.

As the real estate industry leader for eSignature and transaction management, DocuSign helps mortgage companies comply with all of the new criteria set forth in Mortgagee Letter 2014-03, including:

  • Associating an eSignature with the Authorized Document: Documents must be presented to the signer before an eSignature is obtained and the eSignature must be attached to, or logically associated with the document.
  • ESIGN Act Compliance: eSignature technology used must comply with all the requirements of the ESIGN Act, including those related to disclosures, consent, signature, presentation, delivery, and retention.
  • Intent To Sign: The mortgagee must be able to prove that the signer certified that the document is true, accurate, and correct at the time signed.
  • Single Use of Signature: Mortgagees must require a separate action by the signer, evidencing intent to sign, in each location where a signature or initials are to be applied.
  • Authentication: The mortgagee must confirm the identity of the individual(s) signing by authenticating data provided by the individual with data maintained by an independent source.
  • Attribution: Mortgagees must maintain evidence sufficient to establish that the electronic signature(s) is attributed to the individual(s) purported to have signed.
  • Credential Loss Management: Mortgagees must leverage an eSignature system that ensures the security of all issued credentials.
  • Integrity of Records: Mortgagees must ensure that documents signed electronically cannot be altered.
  • Record Retention: Mortgagees must maintain origination case binders in hard copy or electronic format for a period of two years.

Companies interested in learning more about DocuSign’s eSignature platform for real estate may visit www.docusign.com.

About DocuSign Inc.
DocuSign®, The Global Standard for eSignature®, is the leader in eSignature transaction management. Global enterprises, business departments, individual professionals, and consumers are standardizing on DocuSign, with more than 60,000 new users joining the DocuSign Global Network every day. Today, that network includes users in 188 countries. DocuSign is used to accelerate transaction times to increase speed to results, reduce costs, and delight customers across nearly every industry – from financial services, insurance, technology, healthcare, manufacturing, communications, property management and consumer goods, to higher education and others. For more information, visit www.docusign.com or call 877.720.2040. Visit the DocuSign blog at www.docusign.com/blog and follow DocuSign on Twitter, LinkedIn and Facebook.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU's GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes. In...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"Coalfire is a cyber-risk, security and compliance assessment and advisory services firm. We do a lot of work with the cloud service provider community," explained Ryan McGowan, Vice President, Sales (West) at Coalfire Systems, Inc., in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
CloudJumper, a Workspace as a Service (WaaS) platform innovator for agile business IT, has been recognized with the Customer Value Leadership Award for its nWorkSpace platform by Frost & Sullivan. The company was also featured in a new report(1) by the industry research firm titled, “Desktop-as-a-Service Buyer’s Guide, 2016,” which provides a comprehensive comparison of DaaS providers, including CloudJumper, Amazon, VMware, and Microsoft.
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.