E-Sign Policy & Procedure
How do I Know That my Customer Actually Signed That Document?
Since the IRS has begun accepting electronic 4506 T submissions, the critical mass for accepting E-Sign has grown to the point where most lenders have accepted at least a portion of the disclosures electronically. While many of us acknowledge that the fully electronic process for mortgage is some time off, lenders need to define the policy for acknowledging electronic forms.
This is one of those pernicious questions. How do you know? For compliance managers, investors and regulators alike, the issue is fraught with peril.
Since the IRS has begun accepting electronic 4506 T submissions, the critical mass for accepting E-Sign has grown to the point where most lenders have accepted at least a portion of the disclosures electronically. While many of us acknowledge that the fully electronic process for mortgage is some time off, lenders need to define the policy for acknowledging electronic forms.
This is one of those pernicious questions. How do you know? For compliance managers, investors and regulators alike, the issue is fraught with peril.
