Snapdocs Becomes First eVault Provider To Achieve MISMO Certification
Snapdocs, a digital closing provider, has become the first to achieve compliance with MISMO’s eVault System Standards, underscoring its commitment to advancing secure, compliant, and seamless transactions involving electronic promissory notes (eNotes).
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—ensuring that the integrity, transferability, and enforceability of eNotes are protected.
“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 without leveraging third-party source code. This investment has enabled Snapdocs’ customers to achieve eNote adoption at 2X the industry average, with the company now powering 1 in 6 eNote originations industry-wide.
“Snapdocs made the process of adopting eNotes so easy and flawless. 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,” said Kristen Manriquez, VP of Capital Markets at Legacy Mutual Mortgage.
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.
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