MPF Announcement 2023-79

MPF Program – Electronic Signatures and Notarization Standards

Effective Date: Immediately (unless otherwise noted within)

The following sections of the MPF Program Guide have been updated to clarify requirements for electronic signatures and notarization standards:

• Clarified requirements for electronic signatures and electronic records:

   

  • Documents used to originate, service or modify a mortgage loan, may be generated, signed, processed, stored or transmitted electronically, provided they meet MPF Program requirements, are in compliance with E-Sign, UETA, and any other applicable regulations/laws.*

     

  • In addition to the above requirements, PFIs must ensure that recording offices (if document is meant to be recorded), and all guarantor, insurer, Investor, or Government Agency (as applicable) permit electronic signatures and their requirements for the use of such electronic signatures are met.
• Reorganized content and streamlined requirements to clarify the differences between Remote Ink-Signed Notarizations and Remote Online Notarizations.

*The MPF Program does not accept eNotes or eMortgages unless the PFI has been approved to deliver eNotes or eMortgages by its MPF Bank.  PFIs interested in delivering eNotes/eMortgages should contact their MPF Bank.

For additional information refer to the MPF Program Guide section 7.4 Electronic Signatures in Global and National Commerce Act (E-Sign), 7.4.1 Electronic Records, 7.4.2 Notarization Standards.

The MPF Product Selling and Servicing Guides have been updated to incorporate references to electronic signature requirements and notarization standards.