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
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...