MISMO Seeks Input on Online Notary Standards
MISMO®, the Mortgage Industry Standards Maintenance Organization, is inviting mortgage industry participants to collaborate on developing new electronic and online notary standards and best practices for use within the mortgage process.
Over the past few years, several states have approved laws that allow the use of a remote, online notary in situations in which it is not convenient for consumers to be located in the same place. Several other states are considering similar laws. MISMO, recognizing the need for consistency across the country, has prioritized an initiative to develop standards for electronic and online notary actions. This will enable states to adopt consistent regulations for electronic and online notarization and permit lenders and other industry participants to quickly adopt new practices to meet consumer demands for convenience and to improve the overall consumer experience. Read More Here.