Use Case
Real Estate
Loan Closings
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.
Borrower Onboarding
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.
Identity Verification
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.
Additional Documentation
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.
Borrower Confirmation
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.
Post-Closing
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.
Provide insights to customers
Our Difference
Immutable Recordkeeping
Our blockchain-powered system creates VDTs for each closing event, documenting the entire process in a tamper-proof and immutable manner. This record includes details of the participants, documents signed, and key milestones.
Referential Integrity
VDTs are linked to one another, allowing for easy reference and verification of the entire loan closing process. Each event can be traced back to its origin, providing transparency and reliability.
User-Friendly Interface
Our software is designed for ease of use by lenders, borrowers, and closing agents. Participants can confidently engage in loan closings using mobile devices or tablets.
Step-by-Step Use Cases
Explore a variety of industries that can streamline processes and ensure transparency with Greenlight.
Real Estate Loan Closings
Our Validated Data Tokens capture closing events and their comprehensive reporting system to ensure transparency and truth every step of the way.
Closing Attorneys
ChainIT IDs verify both organizations and individual borrowers to ensure secure closing transactions for each stakeholder involved.
Auto Loan Closings
Our Validated Data Tokens capture closing events and their comprehensive reporting system to ensure transparency and truth every step of the way.
Portfolio Lenders
ChainIT IDs verify both organizations and individual borrowers to ensure secure closing transactions for each stakeholder involved.
WHO WE ARE
Patented by Black Ink Technologies™
Schedule Your Free Demo
Book a demo with our team to explore how Greenlight ensures reliable outcomes in loan closing.
About Us
We eliminate opportunities for fraud and ensure that data accuracy and integrity are maintained with easy validation.
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