Pavaso Receives RON Compliance Certification from MISMO
Plano, TX, August 24, 2020 – Pavaso, a leader in digital mortgage transformation, is pleased to announce it has been granted Remote Online Notarization (RON) Compliance Certification through the Mortgage Industry Standard Maintenance Organization (MISMO). The program establishes industry standards for all RON providers, 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 Compliance Certification Program is designed to increase adoption of RON-enabled digital mortgage closings, and support the integrity and scalability of eMortgages. MISMO’s program provides assurances that RON technology providers will meet a common set of standards; reduces or eliminates the burden of individual assessment, certification and approval processes of RON providers; and gives a consistent assessment for all providers. In addition to following the MISMO standards and corresponding best practices, Pavaso’s platform adheres to individual state RON legislation.
“Pavaso has always worked closely with Secretary of State offices to obtain eNotary vendor approvals, where required,” says Nancy Pratt, Vice President of Partner Relations and Government Affairs for Pavaso. “When working with these offices, many states considered our adherence to MISMO Standards beneficial. 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,” Pratt said. “We are very excited to be granted this certification.”
“The interest in and demand for eMorgages is growing and MISMO’s RON standards play a key role in ensuring their integrity, scalability and availability,” says Mike Fratantoni, Chief Economist, SR VP of Research and Industry Technology, Mortgage Bankers Association. “We congratulate Pavaso on completing their MISMO RON certification. This accomplishment demonstrates Pavaso’s compliance with MISMO standards which are designed to increase availability and adoption of RON-enabled digital mortgage closings and highlight RON platform providers’ capabilities.”
As one of the first eClosing providers, Pavaso’s RON solution allows home buyers and sellers to execute all of their real estate documents from the safety and comfort of their homes, where permitted. Visit pavaso.com/ron/ to learn more about our RON closing solution.
Texas-based Pavaso is transforming the mortgage process with innovative digital mortgage closing technology that facilitates easy, convenient and streamlined closings. The Pavaso platform offers a single, collaborative, secure portal that promotes transparency, efficiency, consumer education and communication in a seamless format that delivers value to every stakeholder involved in the transaction. For more information on how you can streamline your process and digitally transform your organization, call 866.288.7051 or visit pavaso.com.