LodeStar Software Solutions, a national provider of closing fee-related compliance tools for mortgage lenders, will leverage ICE Mortgage Technology’s Encompass Partner Connect APIs to deliver an even smoother TRID, closing estimate and Loan Estimate (LE) process. ICE Mortgage Technology is part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure.
Through the collaboration, ICE will empower its customers to quickly access LodeStar services and data via APIs exposed by ICE. Lenders will now be able to generate cost estimates and documents required by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the LE, from pre-application to the final Closing Disclosure (CD), nearly instantaneously and with guaranteed accuracy.
“The ICE-LodeStar partnership continues to grow, paving the way for an even faster, smoother and more customer friendly mortgage loan process,” said LodeStar CEO and Co-Founder Jim Paolino. “APIs are the future of automated mortgage workflow for lenders, and we’re already seeing the most tech-savvy using them to amplify the benefits of their own, proprietary workflow technologies as well.”
Founded in 2013 and utilized by thousands of originators nationwide, 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.
“ICE’s focus has always been on the digitalization of a lender’s complete workflow, to the benefit of our clients as well as consumers,” said Bob Hart, SVP, Business and Client Development with ICE. “Especially in a more competitive market, the most successful lenders will increasingly use APIs in positioning new technology to streamline the entire process—not just the origination or at the POS. As a result, those lenders are positioning themselves for significant growth and success no matter what the market cycle may be.”
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