FHA Announces e-Signature Acceptance
A major piece of the puzzle has been solved. FHA is now officially accepting e-Signatures on Real Estate and Mortgage transactions. We served on the MERS User Advisory Group and had our first discussions with FHA back in April, 2009. We applaud their diligent efforts to move forward with e-Signatures and now Agents will no longer have to chase down ‘wet’ signatures to close their deals. This now rounds out our complete Real Estate Solution - we continue to be the first and only e-Sign solution provider that has been certified by County Recorders (e-Recording), Secretaries of State ( e-Notary), Fannie Mae and MERS eRegistry ( e-Notes and e-Vault)
With our 30 plus years as Real Estate/Escrow Professional domain experience and our Strong Intellectual Property we are the long term partner for any Real Estate, Escrow, Lender or Notary seeking a real competitive advantage looking to make a difference.
FHA endorsing electronic signatures has generated quite a bit of buzz. It will be 10 years this coming June when President Clinton signed the e-Sig Act essentially allowing e-Signatures the same legal weight as ‘wet-signed’ originals. Early on we knew that it took 17 years for the ATM machines to gain adoption so the way I see it is that we are ’rounding 2nd’! We meticulously worked with Real Estate Industry partners to gain acceptance – realizing that if any entity would not accept e-Signatures it would certainly clog the wheel and delay traction for even longer. i.e. Lenders were on board if Title companies would issue insurance and Secondary Investors (Fannie Mae, etc.) would purchase their loans, Title said they would be on Board if County Recorders accepted e-Recording and Secretaries of States needed to be ok with e-Notarization..It took many more years than I like to discuss for this complete buy-in but now with FHA on board it won’t be long for Real Estate Agents and Escrow Officers to realize that the electronic Real Estate transaction is here to stay and they need to get on board!