|By Business Wire||
|January 31, 2014 06:01 AM EST||
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 2010-14 – which 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.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Apr. 29, 2016 09:15 PM EDT Reads: 311
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
Apr. 29, 2016 09:00 PM EDT Reads: 1,539
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
Apr. 29, 2016 08:30 PM EDT Reads: 1,747
New Relic, Inc. has announced a set of new features across the New Relic Software Analytics Cloud that offer IT operations teams increased visibility, and the ability to diagnose and resolve performance problems quickly. The new features further IT operations teams’ ability to leverage data and analytics, as well as drive collaboration and a common, shared understanding between teams. Software teams are under pressure to resolve performance issues quickly and improve availability, as the comple...
Apr. 29, 2016 07:30 PM EDT Reads: 2,401
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Apr. 29, 2016 05:15 PM EDT Reads: 1,695
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
Apr. 29, 2016 04:30 PM EDT Reads: 1,776
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Apr. 29, 2016 04:30 PM EDT Reads: 639
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 29, 2016 03:45 PM EDT Reads: 1,621
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 29, 2016 03:30 PM EDT Reads: 1,669
As you respond to increasing requests for new analytics, you need fast and flexible technology in your arsenal so that you can deploy the right workload to the right platform for the need at hand. Do you need self-service and fast time to value? Do you have data and application control and privacy needs, along with strict SLAs to meet? IBM dashDB™ is data warehouse technology powered by in-memory computing and in-database analytics that are designed for fast results, scalability and more.
Apr. 29, 2016 03:15 PM EDT Reads: 1,548
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Apr. 29, 2016 03:00 PM EDT Reads: 863
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Apr. 29, 2016 02:45 PM EDT Reads: 871
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Apr. 29, 2016 02:30 PM EDT Reads: 1,407
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Apr. 29, 2016 02:30 PM EDT Reads: 1,415