EscrowTab Earns MISMO Software Certification for Paperless Signing Technology
MBA NewsLink Staff
MISMO® announced EscrowTab, Inc., a provider of paperless closing technology, has received MISMO certification for its EscrowTab software product.
EscrowTab achieved Premiere Level Certification, the highest level certification available by MISMO.
EscrowTab provides a secure signing technology by providing a proprietary paperless tablet that replicates the signing process. After the borrower signs, the documents are returned to the lender in PDF format along with an original unsigned document file for reference.
"MISMO Software Certification is an important step for all mortgage technology providers," said Kolin Porter, CEO of EscrowTab. "As demand for our paperless signing technology increases, our clients can trust that we are using MISMO standards the way they are intended."
"We congratulate EscrowTab for earning their certification," said Rick Hill, Executive Vice President of MISMO. "Premiere Certification is a significant achievement. Escrowtab's independently obtained certification demonstrates their commitment to the use of cost-saving and error-reducing MISMO standards."
The MISMO Software Compliance Certification Program provides assurance that a technology provider's products demonstrate compliance with MISMO standards and best practices. The Premiere Level certification includes an assessment by an independent, MISMO-approved, third-party assessment company. This assessment evaluates the provider's MISMO-related practices, product-specific usage of MISMO standards, and evidence of MISMO training. The program is open to any company that develops MISMO-base software, products or tools. Only products certified by MISMO may use the term "certified MISMO compliant"--a symbol of industry excellence.
For more information regarding MISMO's Software Compliance Certification Program, visit http://www.mismo.org/education-and-certification/product/software-certification or contact MISMO at firstname.lastname@example.org.
The Mortgage Industry Standards Maintenance Organization is the standards development organization for the residential and commercial 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 GSEs that govern the exchange of information. Use of MISMO's standards has been found to lower per loan costs, improve margins, reduce errors and speed up the loan process by reducing manual, paper-based processes. MISMO is managed by the Mortgage Bankers Association. For more information, visit www.mismo.org.