Paperless Mortgage - E Signature
By: Alan Aptheker
Been to a closing lately? Did you see any indication that electronic signatures have been legal in the United States since the year 2000? Click to sign has the potential to be the new “swipe to buy,” but it’s been slow to catch on, as acceptance at the Federal Housing Administration and the Internal Revenue Service has been tepid.
Ask Well Fargo spokesman Jim Hines. "For some lenders, having an inconsistent process across all products is not an option. They're holding off implementing electronic signatures until they can offer them for all products." There are signs that the IRS and the FHA are softening by developing policies that let mortgage lenders and borrowers e-sign a variety of mortgage…