HW Media connects and informs decision makers across the housing economy. Professionals rely on HW Media for breaking news, reporting, and industry data and rankings. Moving the Housing Market Forward.
Mortgage

LodeStar partners with LendingPad

With the partnership, LendingPad users will get access to LodeStar Discovery, a closing fee calculator

LodeStar Software Solutions, a provider of compliance tools for mortgage lenders, has partnered with loan origination system and software provider LendingPad, it announced on Tuesday.

The aim of the partnership is to introduce LodeStar Discovery, a closing fee calculator, to mortgage loan originators using the LendingPad platform.

LodeStar Discovery provides access to title and closing fees across the U.S. and can help users generate quotes and estimates on LendingPad as part of an integrated existing workflow. A statement from LodeStar says the alliance will allow clients from both companies to streamline their lending process.

The closing fee data provided by the software can be accessed even by small or growing originators, according to Jim Paolino, CEO of LodeStar.

“For any mortgage originator using proprietary templates or manual research to deliver estimates, Discovery is an ideal solution in that it immediately streamlines their process and frees them to attend to more complex and productive tasks,” Paolino said.

LodeStar Discovery can also minimize manual execution of repetitive tasks and help originators on LendingPad to grow their business, said Dan Smith, vice president of sales and strategy at LendingPad.


Wire and title fraud risk reach new highs in Q3

According to a Q3 analysis by FundingShield, 47.9% of transactions had issues leading to wire and title fraud risk at closing and 5% of transactions were not registered or valid in title insurer systems at time of closing. 

Presented by: FundingShield


LodeStar helps in managing lender margin compression and third-party closing cost management for mortgage originators, as well as TILA-RESPA Integrated Disclosure Rule (TRID) compliance. Its Loan Estimate Calculator provides closing cost estimates in all 50 states and includes title insurance premiums, transfer taxes, municipal recording charges and settlement services fees.

Leave a Reply

Your email address will not be published.

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please