Hi, everybody, Scott Fuller with East Bay Short Sale Group. We are your Livermore, California, short sale specialists. I want to talk a little bit today about electronic signatures.
Obviously, technology’s come a long way, and these can be very useful for people to not have to be required to print out a document, sign it, scan it, fax it, to get it back to the other party who needs it signed. We can use electronic signatures for people to just go ahead and electronically sign their name, allows them to not have to print anything. It’s basically just an email notification that allows you to sign your name on those documents.
One thing that we have not seen in recent history, or actually at all, really, is lenders allowing people to do electronic signatures for short sales. Bank of America has actually changed that around a little bit. In most cases now, Bank of America will allow electronic signatures, so that’s definitely a changed step in the right direction. Hopefully, other lenders will allow that to be the case as well. Certainly, it’s a lot easier for people to not have to go through the print, sign, and fax back process, which usually creates delays. On short sales, we certainly don’t need any more delays. The bank delays them enough as it is. So that’s good news. Hopefully, some other banks will, again, take that initiative, allow some electronic signatures. But for now, Bank of America on most of their transactions will allow it.
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