Why does refinancing need a wet signature?

[Ryan O'Leary]

Good afternoon everyone,

Recently tried to refinance my house in Hawaii while deployed. I bought the house last year using the VA loan, got married in June, and tried to refinance through my lender in Hawaii.

They said I needed a wet signature for the refinance to process, which I think is crazy. I’m sure there are many other people that refinance from long distance, but may use DocuSign to do it? I wasn’t sure if this was what they legally had to do in order to cover themselves, prevent fraud or whatever.

I did not get a general power of attorney for my wife prior to leaving, and she still can’t walk into the lender’s satellite office in San Antonio to fill this refinance paperwork out for me.

Basically just bummed I’m missing out on these rates. Would’ve saved me just under $400/month in mortgage payments, which would’ve offset how much I need to cover for rent/HOAs once I leave. No idea if the rates will stay this low when I get back in the spring, but I just thought it was crazy that I have to get a wet signature in order for this to be finalized.

Any info is greatly appreciated,

Ryan

[Victor Menasce]

Refinance activity has been a source of fraud and many lenders as a matter of policy won't accept an electronic signature. You may be able to have your signature witnessed while overseas at a US consulate using what is called an Apostille Certificate. You could then Fedex the docs back to the bank.