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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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.
Docusign signatures are accepted....closed several using them.
I got a routine purchase money contract (not a short sale) kicked back a couple weeks ago by Wells Fargo because the sellers signed via Docusign. The listing agent had to get real signatures from her seller clients.
Dawn Barrier, you've got several closed through Equator with B of A that were signed using Docusign?

Dawn Barrier SFR®,CSP®,HRC said:
Docusign signatures are accepted....closed several using them.
Patrick, thanks for your response!

I'm sure you were just trying to add value and broaden the discussion; however, I'm really looking for an answer to this question that is specific to B of A.

Patrick Kernan said:
I got a routine purchase money contract (not a short sale) kicked back a couple weeks ago by Wells Fargo because the sellers signed via Docusign. The listing agent had to get real signatures from her seller clients.
I've had this happen, too. The seller gets a letter saying short sale denied because signature does not match original documents. I don't know how I ever lived without electronic signature - especially doing short sales - it makes my life so much easier, our responses to lenders so much quicker and allows me to handle exponentially more business. Darn those guys at BoA!!

Jennie Blackburn
Jennie, thanks for your response and isn't it just like B of A to make things harder and take longer than needed! ;-)

Jennie Blackburn said:
I've had this happen, too. The seller gets a letter saying short sale denied because signature does not match original documents. I don't know how I ever lived without electronic signature - especially doing short sales - it makes my life so much easier, our responses to lenders so much quicker and allows me to handle exponentially more business. Darn those guys at BoA!!

Jennie Blackburn
Kate, just submit with esignatures and explain the intercontinental issues. Maybe they'll take it! If not, there's always FedEx! Good luck! ;-)

Kate Edwards said:
I have a client who lives in Indonesia, first is with GMAC, I wonder if they will reject the e-signature, it really is the only way to get documents signed and sent back efficiently.
My last two short sales with Wells Fargo (FHA pre-approval program) have had digital signatures accepted for the Approval to Participate--but then are denied at contract time due to digital signatures. I am digging into what can be done to stop this nonsense, since the law is over 10 years old and is federally recognized. One more frustration! In my opinion, it puts an additional FINANCIAL burden on already strapped customers, who often must pay a per-page fee to print and return items by fax. Email, though, can be accessed for free at the library.

Dawn Barrier SFR®,CSP®,HRC said:
Docusign signatures are accepted....closed several using them.
Dawn, How long has this been true for you? I've been doing short sales since 2004 and helped 16 homeowners LAST YEAR using digital signatures. Very frustrating new development at a time when my client load is really expanding. Can you give me a list of lenders that DO NOT use Digital Signatures?

Thanks!

Dawn Maloney said:
They do NOT. In fact, we are not able to use esigs with most lenders.
Well, here it is December of 2010, and I just had an e-signed purchase contract  kicked back by BofA Equator system as "Reject Reason: Document is not signed" .......

BofA is one of the few lenders that HAS accepted docusign contracts for my short sales.

 

Anyone know if Chase will accept?

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