AUSTIN, TEXAS, May 1, 2023 — Pactima, a leading provider of eSignatures and eNotary solutions, today announced that its Remote Online Notarization (RON) product has achieved certification from MISMO, the standards development body for the real estate finance industry. This accreditation ensures that Pactima's RON platform complies with the latest MISMO RON standards, offering a secure and efficient solution for remote notarizations in the mortgage industry.
MISMO standards are accepted and deployed by various entities involved in creating mortgages and are required by many regulators, housing agencies, and government-sponsored enterprises (GSEs) that participate in the industry. By obtaining the MISMO certification, Pactima demonstrates its commitment to providing a high-quality, compliant RON solution to its customers.
Benefits of MISMO Certification
Benefits of MISMO Certification for Lenders and Borrowers
With Pactima's MISMO-certified RON product, lenders, title and escrow businesses, and notaries can confidently conduct real estate transactions digitally. This enables a streamlined mortgage process, improved customer experiences, and cost savings across the industry. Key benefits include:
- Lower costs throughout the mortgage process
- Reduced friction as information is shared effectively between the various parties in the mortgage transaction
- Faster, more efficient loan closings
- Enhanced innovation across the industry
- Improved regulatory and counterparty compliance
- Reduced levels of fraud
Benefits for Title Agencies and Title Agents
Pactima's MISMO-certified RON product provides significant advantages for title agencies and title agents, enabling them to digitally navigate real estate transactions with confidence and efficiency. The key benefits include:
- Streamlined Workflows: Digital notarization reduces paperwork and automates processes, leading to streamlined workflows and increased productivity.
- Enhanced Security: The MISMO certification ensures that Pactima's RON product meets the highest security standards, reducing the risk of fraud and data breaches.
- Increased Accessibility: Remote online notarization allows title agents to serve clients anywhere, at any time, expanding their reach and accessibility.
- Compliance Assurance: With the MISMO certification, title agencies can be assured of regulatory compliance in their digital notarization processes.
- Improved Customer Satisfaction: By offering a quick, secure, and convenient remote notarization option, title agents can enhance customer satisfaction and loyalty.
- Cost Savings: Digital notarization eliminates travel time and expenses associated with in-person notarizations, resulting in significant cost savings.
Pactima is a technology-driven company that offers innovative digital mortgage and real estate solutions. Pactima's RON product is part of the company's comprehensive suite of tools, designed to transform home buying and selling into a simple, secure, and enjoyable experience for millions of homeowners each year. Headquartered in Austin, TX, Pactima is committed to providing cutting-edge technology and outstanding customer service to its clients. For more information, visit pactima.com.
MISMO® is the standards development body for the mortgage industry. MISMO developed a common language for exchanging information for the mortgage finance industry. Today, MISMO standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies, and the GSEs that participate in the industry. For more information about MISMO, visit mismo.org.