MISMO, Snapdocs Announce Collaboration on New e-Eligibility Service
Mortgage Bankers Association
MISMO®, the real estate finance industry's standards organization, announced a collaboration to develop the MISMO e-Eligibility Service, Powered by Snapdocs (the e-Eligibility Service). The online service will be developed in partnership with Snapdocs, Inc., a leading digital closing platform for the mortgage industry.
This resource will enable mortgage industry participants to better understand how digital a mortgage transaction can be. It will help lenders easily determine the right type of digital mortgage closing for each loan by quickly assessing the different factors that impact its e-Eligibility, or its ability to be digitized.
"MISMO is dedicated to supporting the industry's transition to digital mortgage closings," said Seth Appleton, President of MISMO. "By ensuring transparency and accessibility into the requirements that govern them, lenders can more confidently digitize their closings in a way that's compliant and doesn't restrict their ability to sell that loan on the secondary market. This new e-Eligibility Service is designed to do just that. The development of this resource is part of our strategy to offer services that support industry-wide adoption of digital closings. We take seriously our role as the industry's trusted source to maintain this data." Read More Here!