FHA Now Accepts Electronic Signatures
Today, April 8, 2010, e-signed third-party documents, including real estate contracts, are now being accepted by the Federal Housing Administration with the issuance of today’s mortgagee letter.
This mortgagee letter is the first in what is expected to be a series of responses to this initiative. With this policy statement from the nation’s largest mortgage insurer, real estate professionals can use DocuSign to get real estate contracts, addenda and other documents signed electronically, and their buyers can apply for FHA insurance with confidence. The FHA mortgagee letter can be found on HUD.GOV website.
FHA loans to get tighter soon
Just a few weeks ago, the Federal Housing Administration announced that major changes to its loan programs are on their way. The FHA is very popular right now with close to one-half of Americans using this government program to finance the purchase of homes. These changes will make it harder for the average American to purchase going forward.