WASHINGTON, D.C. – June 3, 2011 – (RealEstateRama) — Members of Media:Yesterday, the Mortgage Bankers Association (MBA) sent a letter to Acting Assistant Secretary for Housing – Federal Housing Commissioner Robert C. Ryan requesting the Federal Housing Administration (FHA) permit the use of electronic signatures (e-signatures) for all mortgage origination forms required by the FHA.
In the letter, MBA’s Senior Vice President of Public Policy and Industry Relations Steven A. O’Connor emphasizes that e-signatures will reduce processing issues that impair the home-buying process by cutting down the volume of lost paperwork, decreasing signature fraud, lessening the time required to close a loan and may lead to lower borrower costs.
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