Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

The 100-years-war over real estate commissions

HousingWire plunges down the rabbit hole of residential real estate commissions, uncovering the past, present and future of this wholly unique part of the economy.

Real estate agents and LOs: the great collaboration

We spoke with Propertybase CEO Vance Loiselle about real estate tech and how the past year has accelerated the need for digital collaboration tools across the entire customer journey.

ClosingFintech

There are now 4 providers with MISMO RON Compliance Certification

Pavaso follows suit after eNotaryLog, Notarize and Signix

e-Closing platform Pavaso announced on Monday it has been awarded the Remote Online Notarization Compliance Certification through the Mortgage Industry Standard Maintenance Organization – making it the fourth company to receive the specialized certification.

Originally introduced in April, the MISMO RON compliance certification was designed to assure RON tech providers meet a universal set of standards including credential analysis, borrower identification, capturing and maintaining a recording of the notary process electronically, audio and video requirements, record storage and audit trails.

“Pavaso has always worked closely with Secretary of State offices to obtain eNotary vendor approvals, where required,” said Nancy Pratt, vice president of partner relations and government affairs for Pavaso. “The MISMO certification program is designed to enhance the vetting process by assuring states that certified RON vendors are conducting business in a more secure and consistent manner. We are very excited to be granted this certification.”

With the SECURE notarization act making no headway in congress since its introduction in March, states took it upon themselves to procure their own policies for RON with the assistance of RON providers. According to Pavaso, in addition to following the MISMO standards and corresponding practices, Pavaso’s platform adheres to individual state RON legislation.

Prior to Pavaso’s announcement, eNotaryLog received RON compliance certification on May 27, followed by Notarize on July 2. The third company granted the compliance designation was digital signature servicer Signix.

“Real estate transactions continue to close during the COVID-19 pandemic because of advancements in digital mortgage technology, including the increased adoption of remote online notarization as a safe and convenient option,” said Mike Fratantoni, president of MISMO and Mortgage Bankers Association chief economist and senior vice president of research and industry technology. “MISMO encourages all product providers to expand the integrity and availability of eMortgages by obtaining their MISMO certification.”

All certified RON providers will receive a “MISMO Compliant for RON Standards” seal which may be displayed on the RON provider’s website and marketing materials, MISMO said.

According to MISMO, Docutech, Heracles Holding and Nexsys are currently in process of receiving the certification.

Leave a comment

Most Popular Articles

Biden’s $15K first-time homebuyer tax credit now a bill

President Joe Biden called for a $15,000 tax credit for first-time homebuyers, and Congress has answered his call with a bill.

Apr 26, 2021 By

Latest Articles

Home Point Capital reports decrease in 1Q revenue

Home Point Capitol reported $29 billion in origination volume in the first quarter of 2021, and a net income of $149 million.

May 06, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please