MISMO® Announces Certification Program for Remote Online Notarization
"Digital mortgage closings - especially during this time of social distancing and state stay-at-home orders - provide a safe, fast and convenient experience for all parties involved in a real estate transaction," said Mike Fratantoni, President of MISMO and Mortgage Bankers Association (MBA) Chief Economist and Senior Vice President of Research and Industry Technology. "Expanding the availability of RON is a priority for MBA and MISMO, and this new certification program is intended to provide comfort to lenders and others that certified vendors are complying with MISMO's RON standards."
The MISMO RON Software Compliance Certification Program is designed to increase adoption of RON-enabled digital mortgage closings and support the integrity and scalability of eMortgages. The program provides assurances that RON technology providers will meet a common set of standards; reduces or eliminates the burden of individual assessment, certification, and approval processes of RON providers; and gives a consistent assessment process across all providers.