Big news - Freddie Mac Now Accepts Electronic Signatures
Awesome news! We at The ACG Group, Realtors® are huge fans of DocuSign, and this is welcome news indeed.
If the other big GSE (Fannie Mae), other banks and (dare we hope) HUD would follow suit and join the technology revolution, it would be a real coup in the industry that could result in more offers from distant buyers unable to participate in some property purchases because of the rigid timelines and wet ink requirements currently in place.
Lowering the costs and other barriers to buyers is always a good move as well. Overnighting documents twice or more in the course of a transaction starts to add up; especially if you have more than one party that need to sign in multiple locations.
Even if the overnight costs are not an issue, the time lost in transit can be a game changer, knocking out perfectly qualified buyers from participation in fast-paced markets.
Kudos to FreddieMac for a forward-thinking advancement in processing its REO and other distressed inventory.
Hello ActiveRain Community, this month's DocuSign post is a re-post from the DocuSign blog. Why a re-post? Because we have big news to share and it concerns those of you who work so hard in the real estate field. Please read the post below for the big news!
Freddie Mac Now Accepts Electronic Signatures
Posted May 16, 2012
The news came out this morning that Freddie Mac has outlined the list of loan documents for which it will accept electronic signatures. Home buyers can now DocuSign their Freddie Mac loan documents — putting an end to the hassle of printing, faxing/scanning, or driving across town to sign.
“Effective immediately, federally regulated Sellers are permitted to conduct Electronic Transactions using electronic versions of certain loan documents in the initial loan origination process.”
Comments(0)