Scenario: A leading real estate mortgage lender aims to enhance the security and efficiency of its closing processes by leveraging Greenlight Data.
Integration with Mortgage Systems
The mortgage lender seamlessly integrates Greenlight Data into its existing mortgage processing systems to leverage identity verification and document validation features.
As part of the onboarding process, borrowers receive invitations to create their digital identities using ChainIT.
Through the ChainIT app, borrowers undergo a secure identity verification process, linking their identities to a secure wallet.
Greenlight Data's biometric validation and government-validated ID document checks ensure the authenticity of borrower identities.
Document uploads through the ChainIT app create a secure and immutable record of borrower information.
Requests are integrated through the portal for streamlined document requests which enables secure uploads.
Metadata associated with the documentation provides transparency and aids in the monitoring of borrower progress.
Loan Approval and Closing Token Creation
When the loan approval is secured, the lender initiates the creation of a Loan Closing Token through ChainIT.
The Token captures essential details, including borrower digital identities, creating an immutable record of the closing event.
Borrowers use the ChainIT app to scan a QR code associated with the Loan Closing Token to verify the information and add comments and photos.
Biometric validation ensures that only authorized borrowers can access and confirm transaction details, adding an extra layer of security.
The lender has continuous access to the Loan Closing Token's comprehensive details, facilitating post-closing verification.
Documentation and Compliance
The application easily generates a secure PDF of the Loan Closing Token and associated documents for compliance and auditing purposes.
Greenlight Data's immutable records contribute to the lenders and loan processor's adherence to regulatory requirements.
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Step-by-Step Use Cases
Explore a variety of industries that can streamline processes and ensure transparency with Greenlight.
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We eliminate opportunities for fraud and ensure that data accuracy and integrity are maintained with easy validation.
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