CFPB Mortgage eClosing Pilot To Include ESRA Members 1

ESRA member organizations, DocMagic and eLynx, have been selected by the CFPB to participate in its upcoming Mortgage eClosing Pilot program to help the Bureau assess the benefits of electronic mortgage closings

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today announced the selection of participants for its mortgage eClosing pilot program. The three-month pilot will begin later this year, and will explore how the increased use of technology during the mortgage closing process could affect consumer understanding and engagement and save time and money for consumers, lenders, and other market participants.  Read more…


ESRA Experts featured during SourceMedia’s “eSignatures and the FHA” Webinar Reply

ESRA Experts featured during SourceMedia Webinar “eSignatures and the FHA: The Questions Lenders Don’t Know to Ask”

Thank you to everyone who attended the April 30th webinar, eSignatures and the FHA: The Questions Lenders Don’t Know to Ask . The session, presented by National Mortgage News & Mortgage Technology, examined what lenders need to know about the FHA’s recent announcement and Mortgage Letter 2014-03.

The ESRA Expert Panel featured members Melanie Feliciano, DocMagic; Kelly Purcell, eSignSystems; and Jeff Knott, Equifax. Information was shared about the benefits of e-signed records related to speed, convenience and compliance. Additionally they discussed what lenders should know about the acceptance of e-signatures on a wider range of mortgage documents, including IRS Form 4506-T, FHA Insurance claims, REO sales, servicing and loss mitigation documents and many others. Though this initiative demonstrates the FHA’s plan to streamline the mortgage process, it creates an entirely new set of potential pitfalls of which lenders should be aware.

For more information about the recent FHA announcement and other topics, be sure to check out our recent articles on the ESRA News & Media page.