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Similar to UETA, the E-Sign Act sets essential requirements for the validity of electronic signatures. These include the intent to sign, consent to conduct business electronically, association of the signature with the record, and proper record retention.

In order to prove that an e-signature is connected to the signed document, a party must be able to provide information about the transaction if requested. This includes signer details, a date and time stamp of when the transaction took place, geolocation and IP address, and documentation of the authentication process.

To be considered a valid electronic signature, the signature must meet the following criteria: It must be appropriately identified and linked to the signatory. It must be capable of identifying the signatory. It must have been used with the intention of signing the document.

Accepted signature methods by FDA are: Scanned signatures. Digital signatures. Flattened digital signatures. A flattened digital signature must include (see example): the printed name of the signer. the date and time when the signature was executed. the reason for signature.

For an electronic signature to be legally binding under the ESIGN Act, it is recommended that all electronic signature workflows include the following five elements: Intent to sign. Consent to do business electronically. Opt-out clause. Signed copies. Record retention.

Electronic signatures have to meet a few basic conditions to be in compliance with the ESIGN Act: Intent to sign. E-signatures are valid only if both parties show clear intent to sign the document. Consumer consent. Signature attribution. Audit trail. Record retention and consumer disclosure.

FHA Loan Rules Define Electronic Signatures FHA loans with electronic signatures require the lender to establish what is known as ?intent to sign?. HUD 4000.1 addresses this, stating ?The Mortgagee must be able to prove that the signer certified that the document is true, accurate, and correct at the time signed.?

Electronic signatures are not permitted to be used in executing wills or codicils, contracts relating to the alienation of immovable property, bills of exchange such as cheques, and long-term agreements for immovable property, which are in excess of ten years.

Does Fannie Mae accept eSignatures, eClosings & remote online notarization? Yes. Selling Guide A2-4.1-03 describes all of our other policies related to electronic records, signatures, and notarizations.