MISMO RON-Certified Platforms Increase 40 Percent
MISMO®, the real estate finance industry’s standards organization, today announced that 14 technology platforms have now successfully completed MISMO Remote Online Notarization (RON) certification. DocuTech, OneNotary, Pro Notary and SimplySecureSign join 10 previously certified platforms, representing a 40 percent increase in the number of certified platforms over the past three months.
MISMO’s RON standards permit a notary public to notarize a document without the need to be in the physical presence of the signer. The signing and notarization of electronic documents are performed through the use of audio-visual technology.
The products from these four companies join 10 previous MISMO RON-Certified platforms from: Black Knight, eNotaryLog, Hercules Holding, Nexsys, Notarize, NotaryCam, Pavaso, Signix, Snapdocs and Stavvy.
“Companies increasingly want to demonstrate that their technology solutions meet industry standards and there is simply no better way to do that than being certified by MISMO,” said Seth Appleton, President, MISMO. “We applaud DocuTech, OneNotary, Pro Notary and SimplySecureSign for adopting industry best practices and achieving this important designation. This certification is a key component of MISMO’s effort to support, advance, and increase the mortgage industry’s adoption of digital solutions, including RON and eClosing transactions.”
These standards provide a common set of requirements, including credential analysis, borrower identification, capturing and maintaining a recording of the notary process electronically, audio and video requirements, record storage and audit trails.
The MISMO RON Software Certification program, part of the new MISMO eMortgage Technology Certification program, uses a uniform method to assess RON providers’ compliance with the MISMO RON standards and provides benefits for both RON providers and mortgage industry participants such as loan originators, settlement agents, title underwriters, and investors.
The certification program is designed to support the integrity and scalability of eMortgages. It reduces or eliminates the burden of individual RON providers for assessment, certification, and approval and delivers consistent assessment across all providers.
All RON-certified providers receive a “MISMO Compliant for RON Standards” seal that can be prominently displayed on the RON provider’s website and marketing materials, pursuant to additional usage terms and conditions set forth by MISMO. Only these providers can claim that their product is certified MISMO compliant.