Digital Mortgage Education
Watch and learn with MISMO Webinars
MISMO Community of Practice groups prepare and provide webinars monthly about key industry initiatives. To see what they have planned please visit the Upcoming Webinars schedule.
Recordings of previous webinars are available as a member benefit in the MISMO Connect Resource Library. The Digital Mortgage webinars are available by expanding the Library folder, then expanding the Webinar folder, and clicking the eMortgage folder.
MBA Education, powered by MISMO, and the American Land Title Association are partnering to bring you the ultimate virtual event designed to help you navigate the digital closing process. We promise you will leave inspired to innovate to improve your customer's experiences and operational efficiencies. You will also have the opportunity to network with lenders as well as other title professionals across the country. Finally, the Digital Mortgage Bootcamp will give you first hand access to the vendor and technology solutions available for going digital.
Digital Mortgage Terminology
Speaking the same language is key to the success of any mortgage transaction.
These eMortgage Terms and more listed below are available in the MISMO Business Glossary.
A Digital mortgage loan is one where the process of gathering borrower qualifying information is performed in an automated and streamlined fashion such as through a borrower portal. Some of the loan documents, such as the loan application, may be created, accessed, presented, executed, transferred, and stored electronically. A digital mortgage may or may not result in an eClosing.
An eMortgage is one where the closing documents -- through an eClosing process that includes, at a minimum, the Transferable records -- are created, accessed, presented, executed, transferred and stored electronically.
An Electronic Record under ESIGN and UETA that (1) would be a Promissory Note under the Uniform Commercial Code if the Electronic Record were in writing; (2) the issuer of the Electronic Record expressly has agreed is a Transferable Record; (3) for purposes of ESIGN, relates to a loan secured by real property. A Transferable Record is also referred to as an eNote.
An Electronic Note Vault is a secure storage solution that meets the requirements of eSignature Laws. The concept is analogous to a paper note vault administered by a document custodian in the industry today.
A signing process for documents in the mortgage industry in which certain documents are printed and signed on paper while other documents are signed electronically.
An eClosing is the act of closing a mortgage electronically. This occurs through a secure environment(s) where one or more required closing documents are accessed, presented, and signed electronically.
Remote online notarization of electronic documents with use of multi-factor authentication.
A notarial act performed electronically, that a notarial officer may perform under state law.
Click here for an easy-to-read reference prepared by the American Land Title Association.
A System of Record to identify the current Controller and Location of the Authoritative Copy of an eNote.
This term is also defined in the MERS® eRegistry Procedures Manual available at members.mersinc.org.