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Electronic Loan Documents

Freddie Mac has accepted electronic documents since 2005.

As electronic documents and signatures steadily gain acceptance in the mortgage industry, look to Freddie Mac to help you ease into the world of electronic loan documents and bring additional efficiencies to your loan manufacturing process. Whether you’re interested in a hybrid or a fully electronic closing process, our flexible requirements make it easy to get started or support and expand your use of electronic loan documents.

Freddie Mac accepts a combination of printed and electronic versions of loan documents, making it easier for you to integrate electronic documents into your business processes. Options include:

  • Initial Disclosures. Start here! Use electronic documents for initial loan applications and the loan disclosures you provide to borrowers so you can more easily track and document disclosure timelines for regulatory compliance.
  • eClosings. Expand your use of electronic documents! Bring additional efficiencies to the process by using electronic documents you and/or your third party services provide for loan closings. With electronic closings (eClosings), your borrowers can electronically sign some or all of the closing documents, except for the Note, which requires Freddie Mac approval.
  • eMortgages. Go fully electronic! Get Freddie Mac approval to deliver electronically signed Notes for eMortgages. We’ll work with you to help ensure your systems and processes create, store and service eMortgages in compliance with the Electronic Signatures in Global and National Commerce (ESIGN) Act and the Uniform Electronic Transactions Act (UETA).

Our requirements for electronic transactions and documents are outlined in Chapter 1401 of the Single-Family Seller/Servicer Guide. Eligibility requirements to originate and deliver eMortgages are found in the Freddie Mac eMortgage Guide.

Lender Benefits

Regardless of the extent you use electronic loan documents in your loan manufacturing process, your business and your borrowers can enjoy benefits, including:

  • Streamlining processes and lowering costs by eliminating paper documents.
  • Easy tracking of loans to help meet disclosure timelines and documenting compliance with regulations.
  • Providing borrowers with more time to review loan documents.

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