DocMagic Inc. has informed its customers that that the Federal Housing Administration (FHA) has now removed the last obstacle to widespread adoption of electronic mortgages. At the MBA’s recent Residential Production Committee meeting, Charles Coulter, Deputy Assistant Secretary for Single Family Housing at HUD, officially announced that the Agency would be finalizing and publishing the final guidelines around acceptance of electronically signed documents for both origination and servicing within a matter of weeks. FHA delivered its Mortgagee Letter on the topic late last week.Click to continue
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