Unbelievable.

“Effective immediately FannieMae will no longer accept electronic signatures.”

Why? Why????

This is the sort of thing I’d like to see Congress and the National Association of Realtors address. The inefficiencies created by needing wet signatures are tremendous. Printing, signing, scanning/faxing. Only to be told at the last minute that the lender needs “original” signatures (faxed are ok), when an electronic signature can be far more secure than a faxed signature, which could be signed by anyone.

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  • http://www.bloodhoundrealty.com/BloodhoundBlog/ Greg Swann

    > This is the sort of thing I’d like to see Congress and the National Association of Realtors address.

    There we part company. I’m all for ridiculing stupidity at banks, but pushing innocent people around at gunpoint, in pursuit of your own profit or convenience, is what got us into this mess in the first place. America needs many, many things. But the very last thing it needs is more laws.

    • http://realcentralva.com Jim

      Greg –

      Thanks for the comment and for pointing this absurd “policy” out.

      Realistically, who is going to force the banks to change if not government?