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The legal landscape for use of electronics records and electronic signatures has long-since been solidified with passage of the Federal Electronic Signatures in Global and National Commerce Act in 2000 and the Consumer Financial Protection Bureau has been supportive of going digital for the whole mortgage process for loan disclosure.

E-signing is a proven technology and has been supported by the Consumer Financial Protection Bureau as leveraging technology to employer mortgage consumers at closing.  

Moving to digital transaction management and e-signatures will speed the loan closing process dramatically and create a much better experience for all involved who can now deliver, view and sign off on loan disclosures whenever and wherever convenient. Here are some of the benefits: 

• The documents are delivered instantly so there is no delay. 
• The recipient can't make any mistakes because the workflow includes guard rails as the document moves along the signing process complete with an electronic audit trail.
• With TRID - lenders are required to disclose Loan Estimate within three business days after home loan application. A change in the interest rate or something that turns up on a final walk-through will result in a new Closing Disclosure that could push out closing. E-signing can help us to remain in compliance and to still close on time. 

 There are only two ways to shorten the mortgage closing timeline:

1. Hand Deliver the CD or
2. Send the Closing Disclosure via email and e-signing.

Please review the e-signing process from our approved lenders here and please let me know with any questions.