MISMO, the real estate finance industry’s standards organization, has published the SMART Doc V3 eHELOC Specification, a standard designed to address the requests for natively created electronic documents to support the growth of home equity lines of credit (HELOCs).
The SMART Doc V3 Verifiable Profile allows document data to travel with the PDF and then be automatically verified with the document image. By using the MISMO SMART Doc, stakeholders are assured that loan documents and associated data are consistent, reliable, and unaltered.
“The SMART Doc V3 eHELOC Specification will help lenders and investors that are interested in gaining efficiencies and trust while originating, buying, and servicing HELOCs,” said MISMO Acting President Richard Hill. “The new specification further enables the seamless exchange of HELOC data and documents between trading partners.”
