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E-signed third-party documents, including real estate contracts, are now being accepted by the Federal Housing Administration (FHA) thanks to the efforts of DocuSign®, who spearheaded an industry-wide effort to move the FHA to formally recognize e-signed third-party documents.
The first in what is expected to be a series of responses to this intiative is the April 8, 2010 dated FHA mortgagee letter, which you can download here. Real estate professionals can use DocuSign to get real estate contracts, addenda and other documents signed electronically, and their buyers can apply for FHA insurance with confidence.
"We commend FHA's action today. By clarifying its position on electronic signatures, the process of buying, selling and financing of homes across the country will be greatly improved. Buyers, sellers and agents can use DocuSign's online process to eliminate the time, expense and environmental impact of printing, delivering and signing large stacks of paper documents, and mortgage lenders can take comfort in knowing that DocuSign's e-signature process is designed for legal compliance in all 50 states and is fully evidenced by a comprehensive audit trail," said Ken Moyle, chief legal officer at DocuSign.
Real estate agents can quickly access the DocuSign e-signing service from any laptop with Internet access, drag and drop familiar yellow StickEtabs® onto the contract, and send the envelope. An immediate email notification is then sent to the recipient, and this notification can be accessed through any computer or Web-enabled mobile device. Once the contract is fully executed, an email notification is sent to all parties with a link to the final document, which is a legally binding, fully ESIGN-compliant document supported by a comprehensive audit trail.
Read more in the press release from DocuSign.
Posted on April 12, 2010 11:57:19 by  Scott.Shields
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