MBA Calls on FHA to Permit Use of E-Signatures

MBA Calls on FHA to Permit Use of E-Signatures

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.

If you have any questions, please contact Melissa Key at (202) 557-2799, ">.

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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