LodeStar, FeeWise Integration Streamlines The Disclosure Process

LodeStar Software Solutions, a national provider of closing fee-related compliance tools for mortgage lenders has integrated its closing fee calculator and MortgageCTO’s FeeWise disclosure platform.

The new integration will provide mortgage lenders with seamless access to LodeStar’s Closing Cost Calculator within FeeWise, a solution that empowers loan officers and brokers to safely 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.

Founded in 2013 and utilized by thousands of originators and offering nationwide coverage, LodeStar helps mortgage originators effectively manage their third-party closing costs to save both time and money as well as maintaining TRID (TILA-RESPA Integrated Disclosure Rule) compliance. Quotes are automated in the lender system and 100% guaranteed for accuracy.

“The disclosure process has long been a source of confusion and frustration for consumers and loan professionals alike,” said LodeStar CEO and Co-Founder Jim Paolino. “In partnering with MortgageCTO, long an advocate for improved transparency themselves, we are stepping forward to bring even greater clarity to this process.”

Built by industry veterans, FeeWise transforms the mortgage disclosure process by empowering loan originators to self-serve and deliver disclosures to consumers in a matter of minutes. Lenders benefit from this automation though improved compliance, reduced fee tolerance cures, and increased loan capacity, all without adding staff.

“The partnership between FeeWise and LodeStar is a natural fit and provides an advantage for lenders using both systems,” said Rob Withers, Principal of MortgageCTO. “In an extremely competitive purchase market and moving forward, lenders who streamline and digitize their critical processes will be positioned for success.”