Loan Origination System (LOS) developer Vesta has announced an integration with LodeStar Software Solutions, a national provider of closing fee-related compliance tools for mortgage lenders.
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The new integration, which takes advantage of Vesta’s first-class open APIs, will provide mortgage lenders using Vesta’s LOS technology seamless access to LodeStar’s closing fee calculator. The integration will streamline and accelerate the generation and delivery of cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) such as the Loan Estimate (LE) with guaranteed accuracy.
Vesta’s next-generation LOS enables lenders of all sizes to build custom workflows that power a more efficient lending process. Vesta’s no-code, fully customizable workflow engine creates substantial automation and efficiency gains for mortgage origination, allowing lenders to reduce costly, inelastic fulfillment operations. “We’re excited to welcome LodeStar to the Vesta ecosystem to power a simplified, clear, and highly optimized delivery of closing costs,” said Mike Yu, Vesta CEO.
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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.
“As closing cost experts and curators of an expansive and award winning closing fee database, we are excited to expand our integration network to include Vesta’s LOS platform,” said Jim Paolino, CEO of LodeStar. “We share a common vision for the industry, including a need for increased clarity in the mortgage process for consumers and businesses alike. We’re thrilled to be collaborating with Vesta in that endeavor.”
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