Industry News

Alliance to make electronic public records access more efficient

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A new alliance of industry groups promises to streamline the public property recording process and create more efficient electronic access to public property records. The Property Records Industry Association (PRIA) and the Mortgage Industry Standards Maintenance Organization (MISMO), a non-profit subsidiary of the Mortgage Bankers Association, announced a formal alliance today to enable seamless "plug and play" between MISMO and PRIA standards. "PRIA is leveraging its relationship with MISMO by using MISMO's infrastructure of closing standards, plugging into that infrastructure PRIA's recording standard, while continuing to maintain the integrity of the country's public land record system," said Mark Monacelli, president of PRIA.  "MISMO recognizes that the systemic changes underway in the capital markets only increase the need for efficient data interchange," said Doug Duncan, president of MISMO. "This alliance with PRIA spans both the commercial and residential industries an...