Remote Online Notarization, E-Signatures and other options help support loan servicers
Wolters Kluwer’s Compliance Solutions business will present a webinar, “Understand Your Options: Electronic Signatures and Remote Online Notarization” with representatives from Fannie Mae and Freddie Mac to educate loan servicers on key Fannie Mae and Freddie Mac requirements and considerations for electronic signatures on Wednesday, October 21, noon to 1:00 PM EDT.
June 30 marked the 20th anniversary of the Electronic Signatures in Global and National Commerce Act, or E-Sign Act, signed by former President Bill Clinton in 2000, which declared paper signatures and records and electronic signatures and records equal under federal law.
The servicing industry has typically lagged behind the origination industry in adopting electronic solutions. However, the global pandemic has further accelerated the need to implement electronic solutions due to social distancing requirements. Loan volumes associated with CARES Act forbearance processing have put increased focus on current and future needs for implementing electronic solutions to reduce costs, timelines, and improve the borrower experience.
“The COVID pandemic has brought much disruption to the financial services market, including a heightened need for institutions to nimbly adapt their practices to promote distance banking options,” said Steve Meirink, Executive Vice President and General Manager, Compliance Solutions. “Technologies such as e-signatures and remote online notarization are helping revolutionize the banking industry, while ensuring a higher level of safety for banking employees and their customers for conducting important transactions.”
Featured speakers for this event include Chris Zimmerman, Product Manager, Compliance Solutions, Wolters Kluwer; Raj Penugonda, eMortgage Program Lead, Single-Family Division, Freddie Mac; and Michael Cafferky, eMortgage Product Manager, Digital Products, Fannie Mae.