Banks deny e-signing -- require wet signature

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Real Estate Agent with Foust Team Real Estate Sales, Master Certified Negotiation Expert DRE # 01400567

This issue has confounded me for years now -- I can e-sign my Federal taxes, I can e-sign my State taxes: there is a federal law the legalizes electronic signatures, and there is a California state law that legalizes electronic signatures.  Why then can banks and lending institutions deny use of them????  They (some, not all) want "wet signatures.

Well I finally got an answer - it turns out that e-signing is legal and allowed but not required.  By that I mean, it must be agreed to by both parties in a contract (That Explains It) -- both parties must accept the "new", modern, method for signing.  So it appears that as long as they care to "hold out" on the e-sign process, we have no choice but to play it their way -- This is Way to Sad.

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Topic:
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California Orange County Fullerton
Groups:
Realtors®
"Whacked"!!!
Club Chaos
Diary of a Realtor
Square Pegs
Tags:
esigning

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Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Does not surprise me with all the fraud going on.  But at the same time...Wet sigs can be forgeed also!

Mar 27, 2012 04:52 AM #1
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Rainmaker
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Robert Foust

North Orange County | Fullerton Real Estate | Brea
Grey hair is from experience - give me your tough questions
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