Use electronic signatures on your FHA loan documents
The Federal Housing Administration announced a new policy on January 30, 2014, extending mortgage lenders’ authority to accept digital signatures from third-party documents to all lender-created documents. Such loan documents include origination, servicing, and loss migration, as well as IRA Form 4506-T. With the combination of Fannie Mae and Freddie Mac announcing their online signature acceptance back in 2012 plus now the FHA, it is easier, faster, more convenient and more secure than ever to close home loans with DocuSign.
Here’s the full list of loan documents eligible for eSignature:
|1003 Initial Loan Application||IRS Form 4506-T|
|Good Faith Estimate (GFE)||Advance Fee Disclosure|
|List of Service Providers||Equal Credit Opportunity Act|
|Truth in Lending (TIL)||Third-Party Fee Disclosure|
|Intent to Proceed||Patriot Act Disclosure|
|Servicing Statement||Employment Verification|
|State Appraisal Disclosure||Credit Report Authorization|
|Fair Lending Notice||Appraisal Waiver Form|
|Rate Lock Disclosure||Anti-Steering Disclosure|
|Borrower Signature Authorization||Appraisal/Valuation Acknowledgement|
Now both your conventional and FHA loan applications and disclosures can be electronically signed using DocuSign.