The Electronic Signatures in Global and National Commerce Act is giving the mortgage industry legal and logistical fits.

A provision of the eight-month-old law that took effect March 1 stipulates that Fannie Mae, Freddie Mac, and other industry leaders set standards for electronic document storage in order to protect consumers. That means creating a legally binding online document format, and that is not easy, says Gabriel Minton, the Mortgage Bankers Association’s senior director of industry technology.

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