Closing Attorneys



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Use Case

Closing Attorneys

Scenario: A reputable closing attorney aims to enhance the efficiency and security of their processes by integrating VUMP into their workflow.

Initiate the Transaction

The closing attorney logs into the VUMP portal and initiates a new real estate transaction. They enter the necessary details and invite all participants involved, including buyers, sellers, and any other required parties, to join the transaction.

Invite Participants to Create Digital Identities

Each participant receives an invitation to join the transaction. They are guided through the process of creating their digital identity by signing up with VUMP, where their biometric record is created and their ID is verified.

Monitor and Review Participant Information

The closing attorney accesses the VUMP portal to view and verify the information submitted by each participant.

Each user is assigned a BeingID grade, indicating VUMP’s level of identity assurance. Attorneys can set a minimum requirement for BeingID, flagging users below the required threshold. These safeguards protect attorneys, lenders, and borrowers against identity fraud.

In-Person Identity Verification at Closing

At the closing, the attorney verifies each participant’s identity in person through biometrics, ensuring each participant is exactly who they say they are.

This eliminates the possibility of impersonation, improving the attorney’s confidence and reducing liability.

Upload and Validate Closing Documents

The closing attorney uploads the necessary closing documents to the VUMP portal. Each participant reviews and digitally validates these documents, which are then added to the Loan Closing Token, ensuring that the records are securely stored and linked to the transaction.

Biometric validation ensures that only authorized individuals can access and confirm transaction details, adding an extra layer of security.

Ensure Compliance and Document Access

With all documents validated and conditions met, the closing attorney has access to the complete set of records within the VUMP portal. This allows for easy reference and compliance with regulatory requirements.

Receive Payment Automatically

Once all the transaction conditions are satisfied, the system automatically disburses the closing attorney’s fee to their ChainIT Pay wallet, ensuring a quick and efficient payment process.

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 how other industries can streamline processes and ensure transparency with VUMP.

Real Estate Loan Closings

Streamline real estate closings and disbursements by leveraging advanced identity verification and smart contracts to ensure secure, efficient transactions.


Use Case

Closing Attorneys

Securely manage the loan closing process, ensuring compliance and reducing fraud through automated identity verification and immutable documentation.


Use Case

Personal Loan Closings

Our biometric-authenticated eSignature capabilities, paired with unparalleled KYC onboarding, ensure the most secure remote lending operations.


Use Case

Construction Draw Management

Automate disbursements through smart contracts, ensuring that payments are securely released only when predefined conditions and milestones are met.


Learn More

WHO WE ARE

Patented by Black Ink Technologies™

Black Ink Technologies is the developer of multi-patented integrated hardware and software platform,ChainIT, for verifiably connecting physical world objects, services, and events to the digital world with immutable blockchain technology. The company offers end-to-end permanent zero-trust products and services and connects the physical to the digital for Web 3.0, metaverse, or tokenization, thereby facilitating contract automation and value transfer to improve efficiency and limit stakeholder risk.



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About Us

We eliminate opportunities for fraud and ensure that data accuracy and integrity are maintained with easy validation.

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