HousingWireHousingWire
Digital closing provider Snapdocs has become the first to achieve compliance with MISMO’s eVault System Standards, the company announced today.
The certification, awarded after a rigorous third-party evaluation, confirms that the Snapdocs eVault meets all operational and technical requirements for the secure storage, management and transfer of eNotes, a release from Snapdocs said.
“We congratulate Snapdocs on their success in becoming the first eVault provider to achieve certification for compliance with the MISMO standards,” said Jonathan Kearns, vice president of product at MISMO. “MISMO standards help reduce friction between trading partners including lenders, servicers, investors and others. Obtaining the MISMO eVault Certification provides the industry confidence that Snapdocs meets the MISMO standards, which can be utilized when companies are selecting solutions for their business needs.”
Designed specifically for the mortgage industry, the Snapdocs eVault was built from the ground up and allows customers to achieve eNote adoption at two times the speed of the industry average, with the company now powering one in six eNote originations industry-wide.
Today’s milestone follows Snapdocs’ previous achievements of becoming the first provider to receive MISMO’s eClosing System Certification in 2022 and receiving MISMO’s RON Certification in 2020.
