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Re: Providing borrower's copies on CD, ESIGN problem?
Posted by  PAW of FL on 5/14/06 9:49pm Msg #119854
Minimally, Reg Z requires that all persons with an interest in the property, must receive certain disclosures in written form. It doesn't specifically state that it must be provided on paper, but obviously in a form that could be printed. It even addresses providing the disclosures in electronic form. So, getting the docs on a CD, as long as the recipients have a way to physically print the documents as required by Reg Z, would satisfy the requirement.

From Reg Z (Code of Federal Regulations, Title 12, Volume 3, Sec. 226.15, Revised as of January 1, 2002):

Notice of right to rescind. In any transaction or occurrence subject to rescission, a creditor shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind (one copy to each if the notice is delivered by electronic communication as provided in Sec. 226.36(b)).



This is not to say that there may be other requirements that certain items be provided in paper form.

Disclaimer: The preceding is a personal opinion of the author and is not to be construed as legal advice or a legal opinion.
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Messages in this Thread
 Providing borrower's copies on CD, ESIGN problem? - Gerry_VT on 5/14/06 4:50pm
 Re: Providing borrower's copies on CD, ESIGN problem? -  BrendaTx on 5/14/06 4:58pm
 Re: Providing borrower's copies on CD, ESIGN problem? - Jahari Davis on 5/14/06 7:32pm
 Re: Providing borrower's copies on CD, ESIGN problem? -  PAW on 5/14/06 9:49pm
 Re: Providing borrower's copies on CD, ESIGN problem? - Gerry_VT on 5/14/06 10:28pm
 Re: Providing borrower's copies on CD, ESIGN problem? -  PAW on 5/14/06 11:06pm
 Re: Providing borrower's copies on CD, ESIGN problem? -  Tina_MA on 5/14/06 10:43pm
 Re: Providing borrower's copies on CD, ESIGN problem? -  Joan_OH on 5/15/06 8:22am



 
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