View questions about DocuSign and remotely signed notes or documents:
- Now that we are doing a significant amount of business remotely what is your position on remotely signed notes/documents using services such as DocuSign?
- Is there a special collateral consideration if the loan documentation is not ink signed?
DocuSign® is one of many technology vendors offering solutions so lenders can take advantage of the many benefits of eNotes. As previously mentioned, as long as eNotes are originated and stored under the proper standards, we are looking forward to the day we can accept them as collateral in the coming months.
In addition to being an enforceable note, collateral considerations include the ability to value the collateral as well as liquidate the collateral. Therefore, the collateral must be a transferable record and meet the E-Sign and UETA laws. Technology vendors are even partnering with each other to help lenders meet the requirements of an eNote.
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