Who is responsible for ensuring compliance with the E-Sign Act?

The mortgage licensee holds the responsibility for ensuring compliance with the E-Sign Act. This act governs the use of electronic signatures and records in transactions, establishing that electronic documents and signatures have the same legal standing as their paper counterparts. As part of their role, mortgage licensees must ensure that all transactions comply with these regulations, including obtaining consent from consumers to receive disclosures electronically and ensuring that consumers can access electronic documents effectively.

This responsibility aligns with the broader duties of a mortgage loan originator, which include facilitating the loan process while ensuring adherence to federal regulations. They must safeguard that all parties involved understand their rights regarding electronic communications and the implications of opting for electronic transactions. The other options, including the consumer, appraiser, and title company, may have roles in the transaction but do not hold the primary obligation for compliance with the E-Sign Act.