FHA OKAYS E-SIG EXPANSION

The Federal Housing Administration (FHA) yesterday announced that it is granting expanded authority to lenders to accept electronic signatures on documents associated with mortgage loans.  The new policy, which takes effect immediately, allows e-signatures on origination, servicing and loss mitigation documents, as well as FHA insurance claims, REO sales contracts and related addenda.  For now, e-signatures will not be accepted on the mortgage loan itself.  FHA plans to begin accepting e-signatures on forward mortgage notes by the end of the year.  If YOU ARE DOING AN FHA LOAN, BUT SURE TO GET WITH A LENDER WHO DOES MANY OF THEM, as some lenders to NOT.