Paperless mortgages are hardly new, but many mortgage banks and brokerages remain reluctant to accept them. Skeptics have cited a number of barriers to adopting digital loan documents, from borrower comfort to the perceived complications inherent in certain documents requiring a physical signature. With regards to the latter, however, this past year’s acceptance of digital signatures on IRS 4506-T income-verification forms means that another barrier has been removed, opening the door for brokers and lenders to take the final steps toward adopting paper-less mortgages.
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Article Details: Embracing the Possibilities of Paperless: E-mortgage systems are key to staying compliant and responsive to clients’ preferences
By Scott Stucky | Chief Operating Officer | DocuTech
February 2014 issue of Scotsman Guide