MISMO Unveils Remote Online Notarization Standards
MISMO has released remote online notarizations standards for a 60-day public comment period-in a bid to ensure lenders avoid the inefficiency of dozens of state-level protocols.
The aim is for the standards to face a rigorous review from organizations and industry participants-that demonstrates the standards are ready for broad use across the mortgage industry. Once the comment period is completed, the standards could be elevated to Candidate Recommendation status.
At the same time, the mortgage industry asked MISMO to develop standards to promote consistency across the states that passed RON legislation. MISMO's RON standards enable states to adopt consistent practices that make it possible for lenders and other industry participants to adopt new procedures to meet consumer demands for convenience and an improved experience. The comment period will remain open from Feb. 19 to April 22, 2019. Read More Here.