Moving towards a Paperless Mortgage with e-sign
This week our company, Mortgage Master Service Corporation, has been upgrading our “loan operating system”. This will allow our clients to have the option of reviewing their loan documents and acknowledge (sign) them electronically with “e-signatures”. Of course our clients can still print or receive hard copies of their loan documents.
This step forward is not only “green” by reducing waste (it’s estimated a typical file uses around 400 pieces of paper); it will also help streamline the mortgage process. For our clients, instead of having to sign their names over and over again with their initial loan application documents, they will simply use their personal computer to securely access their loan documents and “click” their autographs.
E-signatures are allowed with conventional and VA mortgage loans. Currently it is not yet available for FHA or USDA mortgages. Hopefully this will change soon!
You may notice that my on-line loan application has changed – this is to support our new system.
If you’re considering buying or refinancing a home anywhere in Washington, I’m happy to help you!