GNMA Permits eSignatures and Online Notarization for Loan Modifications of “Paper” Mortgages

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Due to the lingering impacts of COVID-19 and associated insuring guidelines for mortgage servicing, GNMA announced that electronic signatures (eSignatures) and remote online loan notarizations are acceptable for loan modifications of “paper” mortgages effective November 15, 2021.  Approved GNMA issuers must follow certain requirements if they choose to use eSignatures and remote online notarization for such loan modifications.  GNMA stated that subsequent APMs will address the requirements for modifications of eMortgages and eNotes.  

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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