Mexican SHF (Federal Mortgage Society) opens door to electronic management of mortgage valuations
On Friday, February 24, 2012 the Official Journal of the Federation published a number of changes to the regulation on valuation units and professional real estate assessors.
The new regulation laid down by the Federal Mortgage Society (SHF) - which by all accounts should come into force on August 22 - develops a framework whereby it is possible to carry out procedures and communications by electronic means that were previously done only on paper, with the same legal validity and greater guarantees of security and administrative efficiency.
The technical requirements demanded by the Federal Mortgage Society are aligned to provide electronic appraisals with maximum security assurances in the creation, validation, storage and sending procedures, including the following:
Development of a schema in XML format for electronic documents.
Application of advanced electronic signature by assessor and controller.
Application of NOM151 to the XML file.
Web Service connection with the Federal Mortgage Society for sending duly constructed and validated electronic assessments.
The use of an electronic management system for appraisals brings great administrative and financial advantages to assessor companies that are prepared to undertake the necessary technological rollout, which is a simple and transparent process if you have an integral solution which includes all the technical and legal capacities imposed by the SHF.
EDICOM Avalúos: An integral electronic solution
The solution EDICOM has developed for the creation, validation and storage of electronic appraisals implements all the requirements stipulated by the SHF to provide the assessments issued with legal validity.
This is possible thanks to a powerful technological infrastructure which enables file transformations, integration with client software and communication of documents with the SHF or a third party. In addition, EDICOM, constituted as an accredited Certification Service Provider by the Ministry of Economy, provides valuation units with secure electronic identification mechanisms ( e-certificates) that allow them to engaged in activities where electronic signature replaces the handwritten with identical legal assurances, one of the basic requirements demanded by the SHF.
It is therefore a solution that allows the entire process of creating, signing and sending electronic appraisals to be delivered by a single technological service providers like EDICOM, a pioneer in similar processes such as the rollout of electronic billing solutions in Mexico.