MISMO Seeks Public Comment on eVault Standards and SMART Doc Validation Rules

MISMO, the real estate finance industry’s standards organization, yesterday announced that it is seeking public comment on the new eVault Standards and SMART Doc Validation Rules documents created to help provide clarity to eVault interoperability for all parties in a real estate transaction. The 30-day public comment period runs through Nov. 7, 2023.

The eVault Standards document contains guidance for the minimum technical standards by which an electronic vault should be built. The SMART Doc Validation Rules document is a consolidated set of rules that outlines the components and fields that are expected in an eNote. Uniformity of eVault platforms and eNote Validation Rules is anticipated to help alleviate friction between trading partners.

The public comment period allows those who participated in the proposal at least 30-days’ notice prior to final release to review and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy).

MISMO requests that any organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products, to disclose them at this time in writing. All comments and disclosures are due by Nov. 7, 2023, and should be directed to info@mismo.org.

MISMO, the Mortgage Industry Standards Maintenance Organization, works to solve key business challenges. This is made possible by lender support of the MISMO Innovation Investment Fee.

MISMO’s work to solve key business challenges is made possible due to lender support of the MISMO Innovation Investment Fee. For information on MISMO and how to join visit MISMO.org.