LodeStar Software Solutions announced an integration between its closing fee calculator and MortgageCTO’s FeeWise disclosure platform.
The new integration will provide mortgage lenders access to LodeStar’s Closing Cost Calculator within FeeWise, a solution that allows loan officers and brokers to self-serve disclosure package generation and consumer delivery.
FeeWise is accessible from a lender’s point-of-sale (POS) and loan origination system (LOS). The LodeStar and FeeWise integration will streamline and accelerate the generation and delivery of the loan estimate (LE) disclosure, a critical document contained within disclosure packages, company leaders said.
“The disclosure process has long been a source of confusion and frustration for consumers and loan professionals alike,” LodeStar CEO and co-founder Jim Paolino said in a release. “In partnering with MortgageCTO, long an advocate for improved transparency themselves, we are stepping forward to bring even greater clarity to this process.”
Lenders benefit from FeeWise automation though improved compliance, reduced fee tolerance cures, and increased loan capacity, all without adding staff, according to MortgageCTO.
“The partnership between FeeWise and LodeStar is a natural fit and provides an advantage for lenders using both systems,” Rob Withers, principal of MortgageCTO, said. “In an extremely competitive purchase market and moving forward, lenders who streamline and digitize their critical processes will be positioned for success.”