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 and will provide both sectors with the framework for the efficient electronic delivery of public property records.”

The alliance is a key part of MISMO’s commitment to eMortgages. MISMO offers a variety of products and services to develop, promote and maintain voluntary electronic commerce standards for the mortgage industry. Its eMortgage Workgroup builds on the existing MISMO data standards, adding data elements and electronic signature capabilities to create an infrastructure for legally enforceable standardized, fully electronic, or paperless, mortgages.

PRIA is a coalition of public and private participants of the property records industry, cooperating to formulate positions on issues of common interest. PRIA is an active participant in MISMO, and supports the outreach to all elements of the real estate and real estate finance market as a critical step to the standards implementation.

***

Send tips or a Letter to the Editor to jessica@inman.com or call (510) 658-9252, ext. 133.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription