As set forth in more detail in RD AN No. 4776 (1980-D), issued September 23, 2014 (available at http://www.rurdev.usda.gov/SupportDocuments/an4776.pdf), USDA Rural Development announced that they will accept electronic signatures in conjunction with Single Family Housing Programs. This applies to “all documents associated with originating or servicing a loan.”
We will be configuring the borrower and lender signature lines on the following documents to be eSigned:
Agreement with Prior Lienholder (Cx2187)
Statement Required by the Privacy Act – Form 410-9 RD (Cx2862)
Request for Reservation of Funds – Form RD 1980-86 (Cx2914)
Guaranteed Loan Closing Report (Cx3178)
Equal Opportunity Agreement – Form RD 400-1 (Cx7744)
Compliance Statement – Form RD 400-6 (Cx7745)
Construction Contract – Form CRD 1924-6 (Cx7746)
Plan Certification – Form RD 1924-25 (Cx7747)
Request for Verification of Employment (Cx15676)
Loan Note Guarantee – Form RD 3555-17 (Cx18891)
Conditional Commitment for SFH Loan Guarantee – RD 3555-18 (Cx18892)
Request for SFH Loan Guarantee – Form RD 3555-21 (Cx18893)
Guaranteed Rural Housing Lender Record Change – Form RD 3555-11 (Cx18894)
Guaranteed Rural Housing Lender Record Change – Form RD 1980-11 (Cx2945)
Loan Note Guarantee – Form RD 1980-17 (Cx2186)
Conditional Commitment for SFH Loan Guarantee – RD 1980-18 (Cx1259)
Request for SFH Loan Guarantee – Form RD 1980-21 (Cx2915)
Please note, however, that lines reserved for USDA officials will continue to be “ink sign” only.
In order to provide clients with a time period to test this new functionality, these changes will be effective on Stage Test environments on October 24, 2014, and will be effective on Production environments on November 4, 2014. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
October 24, 2014
To clear up some ambiguity concerning this change, please be aware that the eSign capabilities for RD loan documents will NOT be made on a default basis for clients, due to various investor requirements which may still prohibit RD loan documents from being electronically signed. Clients will need to confirm with their investors that they are willing to accept eSigned RD loan documents, and then clients MUST contact their Account Manager and request to have the eSign functionality in this Announcement set up for them.
October 30, 2014