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FHA delays rule requiring digital signatures on appraisals


The Federal Housing Administration (FHA) is delaying a rule that would require appraisals uploaded to its electronic platform to be digitally signed.

The FHA had previously announced that XML Digital Signatures will be required on all appraisals uploaded to its Electronic Appraisal Delivery (EAD) System. XML is a method of digital authentication that is secure, flexible and fairly ubiquitous; it is already in use on many digital appraisals submitted to the FHA.

The EAD, in fact, already has a warning notification for mortgages that don’t contain XML digital signatures. That “hard stop” is currently eligible within the system to be overridden so that loans without digital signatures pass through; the new rule would have made them ineligible for override on Aug. 5.

The FHA, however, announced that such implementation will be delayed. The announcement provided neither a new implementation date nor a reason for the delay, with more information on the requirement to be shared in the near future.


 

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