Bounced Email Addresses - Documents for E-Signature

I don't know if this is possible but is it feasible that if a document is out for e-signature (by one or more parties) and one of the email addresses bounces, could the system automatically email the sender (user) to say it has bounced.

And then can the user have the ability to amend the email address inside the envelope - rather than having to come out of it and into Contacts to do.