Federal Housing Administration to Accept DocuSign for Real Estate Contracts Nationwide
Buyers, Sellers, Agents and Lenders Will Save Significant Time and Money on Mortgage Document Approvals with DocuSign eSignature Services
SEATTLE – April 8, 2010 - DocuSign®, the leader in on-demand electronic signature solutions, today announced that e-signed third-party documents, including real estate contracts, are now being accepted by the Federal Housing Administration (FHA). DocuSign spearheaded an industry-wide effort to move the FHA to formally recognize e-signed third-party documents. The April 8, 2010 dated FHA mortgagee letter is the first in what is expected to be a series of responses to this initiative. With this policy statement from the nation's largest mortgage insurer, 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. The FHA mortgagee letter can be found at http://nhl.gov/offices/adm/hudclips/letters/mortgagee/files/10-14ml.pdf.
"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," said Ken Moyle, chief legal officer at DocuSign. "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."
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. The recipient immediately receives an email notification that can be accessed through a computer or any Web-enabled mobile device, including Apple® iPhone®, RIM® BlackBerry®, Google® AndroidTM, Windows Mobile®, adopts an e-signature and signs the document. Once completed, an email notification is sent to all parties with a link to the final executed document. The result is a legally binding, fully ESIGN-compliant document supported by a comprehensive audit trail.
As on-demand software-as-a-service (SaaS), DocuSign requires no additional software or hardware purchases and no downtime for training. DocuSign eSignature service offers users one of the easiest, most simple to use and safest electronic signature experiences available today. For more information on DocuSign, visit www.docusign.com
About DocuSign, Inc.
DocuSign, Inc. is the leading provider of on-demand software services for electronic signature. DocuSign empowers individuals, small businesses and global enterprises to operate faster and more efficiently, with greater profitability, enhanced security and compliance. DocuSign is the only Web-based service to securely automate and control the entire electronic document signing process. DocuSign employs the SaaS eSign industry's only enterprise class SAS-70, fully redundant data center delivering 99.993% uptime for customers over the last 30 months. To date, more than 70 million signature events have been executed using DocuSign. In addition, DocuSign is the official and exclusive provider of e-signature services for the National Association of REALTORS® 1.1 million members, under the REALTOR Benefits® Program.
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