ChosenSecurity Earns SISAC Accreditation
February 12, 2007
The Secure Identity Services Accreditation Corp. (SISAC), a wholly owned nonprofit subsidiary of the Mortgage Bankers Association, announced that ChosenSecurity Inc., in partnership with the National Notary Association, has completed its accreditation process.
ChosenSecurity joins three other entities that have completed SISAC's accreditation process in recent months, including eValid8 Corp., Innov8IT LLC and the longstanding accredited issuer, VeriSign Inc.
The SISAC accreditation structure allows individual firms to establish various levels of "plug and play" identity within the context of secure e-commerce transactions for use over unsecured networks, such as the Internet.
"The SISAC brand has become recognized as offering a streamlined mechanism to certify secure identity suppliers, and thus bridge the gap between individual initiatives," said David Kittle, CMB, vice chair of MBA and chairman of SISAC. "I commend these entities in completing the accreditation process to establish standardized identity in the real estate arena, and I encourage others to follow their lead."
SISAC, created to accredit and certify secure online identity providers, exists to address three essential missions for the industry:
• Educate and promote the use of secure identity within commercial and residential real estate finance;
• Create the necessary infrastructure for accrediting third parties providing secure identity products and services, such as technical, auditing and insurance solutions; and
• Leverage identity management best practices to establish open standards for trust in the mortgage industry.
"SISAC's standardization of secure online identity credentials will most certainly help the notary industry, and other industries involved in the mortgage transaction process, to achieve uniformity and I commend the individuals that have obtained this credential," said Timothy Reiniger, NNA vice president and executive director.
"ChosenSecurity sees this accreditation as both an accomplishment as well as an opportunity," said Dean Coclin, vice president of business development at ChosenSecurity. "We are proud to have completed the rigorous SISAC accreditation process and believe that this accreditation will position us ahead of other service providers."
As America's mortgage industry moves toward an electronic rather than paper-based paradigm, MBA intends to set mortgage industry standards for secure identity and to provide the platform for industry-wide e-commerce that will benefit all participants. Open access and standards is the motivating force behind MBA's efforts to establish data security, digital signature, and encryption recommendations. As secure identity solutions continue to gain adoption in the mortgage industry, MBA encourages their open development and embraces open standards available to all industry participants in mortgage transactions. Openly developed secure identity will increase interoperability between all trading partners and facilitate faster migration to safer electronic transactions and eMortgages for all sectors of the mortgage industry—residential and commercial, origination and servicing, lender and vendor. Ultimately, the interaction between users of accredited online identity solutions will realize increased efficiencies and new business opportunities.
For further information, visit: www.sisac.org.
Source: The Secure Identity Services Accreditation Corp.
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