Started a new short sale with B of A in Equator and got a message this morning saying, "contract denied due to not being signed". 

 

The contract and all addenda were signed by buyer, seller and both agents via electronic signature. 

 

Can it be that this was just overlooked?  Or does B of A not recognize Esignatures?

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I have been railing about this for months.  Letters and emails to NAR, docusign and local boards.  You really need to do the same so we can get this changed.  Really no excuse for it. 

I'm really glad you brought this up.

 

I've learned from experience with BoA that when my LOA is rejected for being "illegible", what it really means is rejection because the signature was electronic. When I upload the same LOA signed in pen & ink, it is magically accepted even though the scan is hideous and truly illegible. Oddly,this only happens with the LOA.  All the other docs I submit are e-signed with no problem.  I've decided to fight this time.  Here is what I sent in Equator after my most recent LOA rejection:

 

"Our Letter of Authorization is NOT illegible, as your auto-responder indicated.  If anything, since it has an original electronic signature, it is more legible than a scan of a hand-signed document.  Therefore, I can only conclude that our LOA is being rejected because it has been signed electronically.  The 'Electronic Signatures in Global and National Commerce Act' was enacted to make electronic documents and signatures as valid as their paper and ink counterparts.  The act’s provisions validating electronic and electronically signed documents went into effect on October 1, 2000.  You are breaking the law by not allowing this document.

Please mark the task of uploading documents as complete so that we can proceed with the short sale process."

 

We'll see how it goes...

Can some one help me on this one please. this is my first deal working with Bank of America.

They are asking for a signed authorization of electronic signature on the RPA.

I looked and search but can't find such a document

Please advice,

Thanks,

Hector Reyes

Subject purchase contract and 4506 tax form
Body

the 4506 tax form needs to be signed by the sellers and line 9 filled in also pleas upload a signed authorization for the sellers electronic signature on the purchase agreement please upload within 48 hrs so that we can move forward with the short sale thanks

 

Well, we have have gotten them through so far. I guess we will see what happens at the end of the day:) Docusign signatures have been held up in court as even better than physical signings and are considered legally to be signatures. Crazy crap if BofA turns ours down at the end of this process. 

Kent Dills said:
Dawn, seems like just another B of A ploy to slow things down. Esignatures are recognized nation-wide now and particularly in my home state of Texas. Geez!

Thanks for your response! ;-)

Dawn Maloney said:
They do NOT. In fact, we are not able to use esigs with most lenders.

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