What are the MISMO eVault Standards DWG?
• The MISMO eVault Standards DWG is a development workgroup formed by MISMO to create mortgage industry standards for eVaults.
Why are eVault Standards important to the mortgage industry?
• Two primary functions of eVaults are to store electronic records such as eNotes and to send and receive copies of such records, and information about them, to/from other eVaults. Having a single set of standards for the mortgage industry will help to ensure interoperability among different eVault providers and serve as baseline requirements that can be leveraged by investors and other interested parties when evaluating eVaults, as well as by technology providers when developing them.
What are some examples of things that might be addressed by the planned eVault standards?
• The eVault standards are intended to cover the functionality, features, and security aspects of eVaults. One such item planned for consideration by the DWG is a set of rules for the validation of SMART Doc eNotes sent and received between eVaults.
Who is participating in the eVault Standards DWG?
• The DWG is open for participation by all MISMO members. It currently consists of representatives from mortgage lenders, the GSEs, Ginnie Mae, the Federal Home Loan Banks, and technology providers.
How can one participate in the eVault Standards DWG?
• MISMO members can sign up for the DWG via MISMO Connect. It currently meets on the second and fourth Wednesday of each month from 11 am – 12 pm ET. The next meeting is on May 25th.
