,,iv  #aaf? ,,congress  #a/ ,session    
,h4 ,,res4 #ejj  ,,9 ,,! ,,h\se ,,(     
,,repres5tatives  ,july #ag1 #bjai,mr4  
,duffy submitt$ ! foll[+ resolution2 :i*
 0 ref]r$ to ! ,committee on ,f9ancial  
,s]vices  ,,resolution  ,recogniz+ !    
b5efits ( digitization ( ! mortgage     
process4  ,:]eas onl9e1 mobile1 & o!r   
responsible te*nological advances c be  
lev]ag$ ) ! use ( remote data managem5t 
& alt]native s\rces ( data to increase  
availability ( safe products to         
und]s]v$1 und]bank$1 & unbank$          
communities2 ,:]eas use ( electronically
 sign$ docum5ts 9 ! mortgage process c  
r$uce l5g? ( clos+ "t1 r$uce h\rs (     
co/ly labor-int5sive processes1 are co/ 
effective to /ore & transmit1 & (f]     
great] protection aga9/ unau?oriz$      
tamp]+1 alt]ation1 or loss2 ,:]eas      
digitization & automat$ valuation models
 may l[] co/s & exp$ite clos+ times =   
consum]s2 ,:]eas digital signatures     
appli$ to mortgages h /atutory basis 9 !
 ,electronic ,signatures 9 ,global &    

,national ,comm]ce ,act 7,,esign2       
,public ,law #ajf-bbi71 :i* recogniz$ ! 
legal validity ( signatures & records   
execut$ ) an electronic /amp2 ,:]eas    
remote onl9e not>ization & ! use ( audio
 & visual te*nology & electronic me?ods 
c meet dem&s to facilitate a mod]n clos+
 process = home mortgage clos+s &       
enhance ! consum] exp]i5ce2 ,:]eas an   
e,note is an electronic v]sion ( !      
negotiable promissory note t is         
digitally sign$ & electronically        
transmitt$ & /or$2 ,:]eas onl9e products
 provide consum]s ) anonymity to prev5t 
discrim9ation aga9/ protect$ classes 9 !
 mortgage process2 ,:]eas ! digital     
mortgage process provides consum]s )    
control ( & access to _! own data1      
in=mation1 & f9ances2 ,:]eas s+le s\rce 
validation all[s l5d]s to v]ify a       
consum]'s assets & employm5t to /reaml9e
 a m accurate & secure clos+ process2   
,:]eas cont9u$ enhancem5ts 9 digital    
id5tity v]ification us+ multi-factor    
au!ntication to validate ! consum]      

protects _! id5tity & data2 ,:]eas !    
digitization ( prop]ty data has help$ to
 /reaml9e & automate m accurate         
valuations2 ,:]eas c]ta9 m>kets may     
cont9ue to necessitate physical         
appraisals = diff]5t types (            
con/ruction1 lot sizes1 am5ities1 age1 &
 o!r factors2 ,:]eas nonuni=m ,/ate     
rules create a b>ri] & unc]ta9ty =      
inve/ors consid]+ pur*as+ digital       
mortgages2 ,:]eas ,/ate & local         
gov]nm5ts %\ld focus on h>monization1   
includ+ adoption ( model laws t c\ld be 
uni=mly adopt$ by ,/ates2 & ,:]eas !    
,f$]al ,h\s+ ,adm9i/ration1 ,fannie     
,mae1 ,fr$die ,mac1 & ! ,dep>tm5t (     
,vet]ans ,affairs already all[ = ! use (
 electronic signatures on mortgage      
docum5ts insur$ or gu>ante$ by _!       
programs1 & ! ,gov]nm5t ,national       
,mortgage ,association 7,g9nie ,mae7 is 
9 ! process ( p]mitt+ ! use ( e,notes = 
loans includ$ 9 securities x gu>antees3 
,n[1 !re=e1 be x  ,t ! ,h\se (          
,repres5tatives-- 7#a7 supports !       

adoption by ,/ates ( consi/5t /&>ds = ! 
digitization ( ! mortgage process2 &    
7#b7 urges ! ,secret>y ( ,h\s+ & ,urban 
,developm5t to cont9ue to support ,g9nie
 ,mae's ef=t to accept e,notes &        
electronically sign$ mortgage docum5ts4