Snapdocs has become the first eVault provider to achieve certification for complying with Mortgage Industry Standards Maintenance Organization’s (MISMO) eVault System Standards.
This certification, awarded after a third-party evaluation using MISMO eVault System Certification criteria, confirmed that the Snapdocs eVault meets all operational and technical requirements for the secure storage, management and transfer of eNotes, according to a company release.
“We congratulate Snapdocs on their success in becoming the first eVault provider to achieve certification for compliance with the MISMO standards,” MISMO Vice President of Product Jonathan Kearns said in a release. “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.”
The Snapdocs eVault was built from the ground up without leveraging third-party source code, according to Snapdocs. This investment enabled Snapdocs’ customers to achieve eNote adoption at two times the industry average.
"Snapdocs made the process of adopting eNotes so easy and flawless,” said Kristen Manriquez, vice president of capital markets at Legacy Mutual Mortgage. “Our team was very knowledgeable and prepared to scale eNote transactions as a result. Accelerating eNote adoption eliminated signing errors, simplified the process for our post-closing team, and sped up delivery to our warehouse partners and investors."
This 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.