Registered Email™ services are commonly used within the residential real estate sector to prove compliance with required notices centering on truth in lending disclosures for residential home loans.
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CTO, Dickinson Law
Consumer Real Estate Lending Transactions:
The TRID rule permits electronic delivery of the TRID disclosures in compliance with the ESIGN Act. The Registered Receipt™ email has the capability to authenticate and accurately reproduce the original e-mail and attachments, including any attached disclosures, which satisfies the ESIGN Act’s retention and accurate reproduction requirements. Accordingly, as the Registered Receipt™ email can be provided to third parties and used to authenticate the content and attachments to the e-mail, creditors can retain the e-mail to enable access to parties entitled to access to such records for the period required by law, which satisfies the ESIGN Act’s access requirements. In addition, the Registered Receipt™ email can provide evidence of the date of delivery of the e-mail. Thus, the Registered Receipt™ email should generally enable creditors to satisfy the record retention requirements under the TRID rule with respect to the delivery of the TRID disclosures. To request a review of this report, please contact RPost.
TRID is the TILA / RESPA Integrated Disclosure Rule. TILA is the Truth in Lending Act and RESPA is the Real Estate Settlement Procedures Act. ESIGN is the United States Electronic Signatures in Global and National Commerce Act, a federal law enacted in 2000 that largely preempts inconsistent state law, and the United States state-based Uniform Electronic Transactions Act (UETA), a uniform state law that was finalized by the National Conference of Commissioners on Uniform State Laws in 1999.