The Federal Housing Administration (FHA) late last week announced it will begin accepting electronic signatures on third-party documents originated and signed outside of the lender’s control, including real estate contracts.
The FHA plans to expand the number and types of documents with e-signatures that will be accepted by the FHA over time.
This policy change is in accordance with the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA), as applicable.
It is effective immediately for FHA forward mortgages as well as Home Equity Conversion Mortgages (HECM), also known as reverse mortgages.
