Compliance Memo C2021-11 Redisclosing Without Econsent
This memo is a reminder and notification of the redisclosure process when file needs to be redisclosed or Non-TRID to TRID disclosures need to be sent and Econsent has not been obtained.
Section 101 (c) of the Electronic Signatures in Global and National Commerce Act (ESIGN) requires a specific and electronic consent prior to the delivery of any documents the require an Esignature or where an Esignature would be acceptable.
The Redisclosure Team can only send disclosures through Encompass or Simple Nexus for Esignature, other outside sources are not available such as Docusign.
To ensure we are meeting all Federal, agency and state requirements:
-If Econsent has been obtained through Encompass, Redisclosure will send disclosures out for Esign through Encompass or Simple Nexus as normal.
-If Econsent has NOT been obtained through Encompass, Redisclosure will send disclosures via US Mail.
Any disclosures sent by the Redisclosure Team can be obtained through Disclosure tracking.
**If you are obtaining signatures by other means (in person), you will need to notify your borrower(s) that they will also be receiving these disclosures in the mail.
If you have any questions or need additional clarification, please reach out to the Compliance at Compliance@goldstarfinancial.com.