E-Sign Compliance Policy and Procedures

Description

The E-Sign Act requires lenders to implement performance standards that ensure the accuracy, integrity, and accessibility of electronic records. This policy outlines the procedures for complying with the E-Sign Act in connection with a mortgage loan transaction.

Under the E-Sign Act, an electronic signature is defined as: “Any electronic sound, symbol, or process attached to or logically associated with a contract or record and executed or adopted by a person with the intent to sign the record.”

Acceptable electronic signatures include digital signatures and other verifiable electronic methods consistent with this definition.