Wells Fargo declining Digital Signatures (Sept. 2010)
New frustration in the past two weeks with Wells Fargo declining Digital Signatures. The files had been accepted into the FHA Pre-foreclosure process USING digital signatures...now the contracts are NOT being accepted--and all prior docs are requiring physical signatures as well. Is this a Wells Fargo rule or an FHA/HUD rule? Given that the law is FEDERALLY MANDATED and over 10 years old, I feel frustrated that we are fighting this battle AGAIN. Any advice or similar stories? Can anything be done?
Replies to This Discussion
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Permalink Reply by Ben Racela on
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When it comes to a short sale most lenders will not accept Digital Signatures. The reason is that any signed document will be sent over to their legal department for verification against the signatures on the original mortgage documents. It is this reason we request that all listing and purchase agreements have the sellers actually sign them.
I hope this helps. -
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Permalink Reply by Karyl Moore on
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I think it is a Wells Fargo rule - and it must be a new one because I have used electronic signatures with them in the past. I'm pretty sure DocuSign recently announced that FHA now accepts electronic signatures. Chase also does not accept electronic signatures. But every other lender I have worked with does accept them (B of A, Wachovia, IndyMac, etc).
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Permalink Reply by Robin M. Willis on
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BofA is kicking back an FHA one with digital signatures but other banks (including WF) are accepting them from me.
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