Ask the Digital Boot Camp Experts: The 411 on MISMO’s RON Certification

August 11, 2020

During this latest installment of Ask the Digital Boot Camp Experts (sponsored by the FNF Family of Companies), Lisa Steele of Mother Lode Holding Co. and Eddie Oddo of First American Title Insurance Co. talk with Rick Hill, vice president of industry technology at the Mortgage Bankers Association, about MISMO's Remote Online Notarization (RON) certification program.

MISMO designed the RON software compliance certification program to scale the adoption of RON-enabled digital mortgage closings and support the scalability of e-mortgages. Additionally, the program provides RON technology providers with a common set of standards and streamlines the approval processes of RON providers.

It should be noted that each remote online notary must not get certified. The certification is for the platforms and products that title and settlement companies utilize or integrate with.

“At the end of the day you want to have trust in the transaction,” Hill said. “When we are certifying a company, the expectation is that a lender, settlement company or an investor can trust that the organization meets the MISMO standards so they don’t have to vet each of these companies themselves.”

Each company innovates differently, but this allows businesses to select the product that best meets their needs as an organization.

MISMO's RON standards include a unified set of requirements, such as credential analysis, borrower identification, capturing and maintaining a recording of the notary process electronically, audio and video requirements, tamper-evident seal, record storage and audit trails.

MISMO's RON standards support model legislation that was developed by ALTA and the Mortgage Bankers Association. Multiple U.S. states are now using this model legislation to enact RON laws in their jurisdictions. Furthermore, some states that enacted RON legislation have already utilized draft versions of the MISMO RON standards to implement their state law.

If you want to learn more about digital closings, register for the upcoming virtual Digital Closing and eMortgage Boot Camp (Aug. 18-20): https://meetings.alta.org/digital-boot-camp/


Contact ALTA at 202-296-3671 or communications@alta.org.

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