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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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.
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
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.
Docusign signatures are accepted....closed several using them.
They do NOT. In fact, we are not able to use esigs with most lenders.
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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