ALTA Partners With MISMO for e-Eligibility Exchange Initiative

April 12, 2022

ALTA announced that it will be the sole provider of title and settlement data for the MISMO e-Eligibility Exchange, powered by Snapdocs. The e-Eligibility Exchange serves as a central source of information on the criteria that impact digital closings. The data will be provided to MISMO under a contributor agreement with the national ALTA Title & Settlement Agent Registry, the national database of title and settlement agents.

The MISMO e-Eligibility Exchange features information on trading partner requirements, e-notarization regulations, county recording requirements, settlement agent readiness and title underwriter restrictions. The platform helps real estate and finance professionals navigate these factors so each closing can be as digital as possible.

“We’re pleased to collaborate with MISMO and provide the e-Eligibility Exchange with the most accurate title and settlement services company data available in the industry,” said ALTA CEO Diane Tomb. “It’s crucial that the title insurance industry urge progress and innovation in the digital closing space. With 9,000 locations already listed in the ALTA Registry and 2,000 of them showing a state of ‘RON readiness,’ now is the time for all title insurance companies and real estate attorneys to register.”

The ALTA Registry is a unique real estate utility created specifically for the mortgage industry and service providers. For the first time, the ALTA Registry will provide data on individual title insurance and settlement services companies, identified by an ALTA ID, as well as each location’s “RON readiness” capabilities. The ALTA Registry is free and ALTA membership is not required.

ALTA launched the ALTA Registry in 2017 as the first national database of title insurance and settlement services companies. In addition to contact information and branch locations, each ALTA Registry listing also includes a title insurance company’s or real estate attorney’s unique seven-digit ALTA ID.

The e-Eligibility Exchange is now available to all MISMO members via an online interface and APIs that can be integrated into other technology platforms.

“The MISMO e-Eligibility Exchange serves as a resource for the entire industry and its success relies on the quality and accuracy of the contributed data,” said Seth Appleton, President, MISMO. “The exchange will benefit tremendously from ALTA participation, with its timely and accurate title insurance and settlement services company data. The fact that a title agent can only join the ALTA Registry after its title insurance underwriter has confirmed its information gives us ongoing confidence that we will have data that is unique and up-to-date. This accuracy, together with the uniqueness of the ALTA ID, will help make the e-Eligibility Exchange a compelling and innovative industry resource.”

The e-Eligibility Exchange draws on Snapdocs’ and MISMO’s respective areas of expertise, with Snapdocs providing the technology that powers the e-Eligibility Exchange, and MISMO working with industry participants such as ALTA to collect and maintain the most robust and up-to-date digital closing criteria possible.

“At Snapdocs, we’re working backwards from a world where the many benefits of digital closings are accessible to everyone," said Camelia Martin, vice president of industry and regulatory affairs at Snapdocs. "Through our partnership with MISMO, and the collaborative efforts of the many contributors to the e-Eligibility Exchange, we’re empowering lenders to overcome one of the most significant barriers to the adoption and scalability of digital closings. This initiative is a perfect example of what the mortgage industry can accomplish when we come together to drive innovation."

The number of title and settlement companies offering digital closings increased 228% compared to 2019, according to ALTA’s 2021 Digital Closing Survey. The survey of 300 title professionals showed that 46% offered digital closings in 2020 during the COVID-19 pandemic. Prior to the health crisis, a 2019 survey showed that 14% of companies offered digital closings two years ago.

While the number of digital mortgage closings completed continues to rise, industry-wide adoption is still hindered by the complexity and lack of transparency into factors that determine how “e” closings can be. The e-Eligibility Exchange helps to maximize the digitization of closing processes, including shifting to eNote and RON, and increasing these benefits for every participant involved in a mortgage loan’s life cycle.

“eClosing volume has grown significantly in the last two years due to growing acceptance from stakeholders such as investors, servicing buyers, etc., as well as the growing adoption of e-recording and e-notarization at the jurisdictional level," said Raj Penugonda, product development director at Freddie Mac. "However, since acceptance and adoption is not yet uniform across the ecosystem, lenders need to make a loan level determination of which loan documents can be electronically signed. This makes it difficult for them to scale their eClosings. MISMO e-Eligibility Exchange helps address this challenge. As part of our efforts to help the industry’s journey towards a true digital mortgage, Freddie Mac is excited to work with MISMO in developing e-Eligibility Exchange.”

Click here to get your company listed in the ALTA Registry. 

Contact ALTA at 202-296-3671 or