Digital closing software provider Pavaso 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 e-mortgages.
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 e-notary 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.”