PHILADELPHIA & SAN FRANCISCO--(BUSINESS WIRE)--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.
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.
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.”
ABOUT LODESTAR SOFTWARE SOLUTIONS
Philadelphia-Based LodeStar is the expert in closing cost data with an independent database of service providers and government fees. The company leverages its industry and technological expertise to create products and partnerships that automate disclosure of closing costs. In so doing, the brand works to advance the ideals of clarity, community and connectivity throughout the mortgage industry.
LodeStar’s award winning Closing Cost Enterprise Solution provides guaranteed closing cost estimates for all 50 states including title insurance premiums, transfer taxes, municipal recording charges and settlement services fees. Lenders can manage all their providers’ fees from a single platform across their entire network. The company was named number 8 on the 2021 Philadelphia 100, produced by the Entrepreneurs Forum of Greater Philadelphia, which honors the top 100 fastest growing privately held businesses in the greater Philadelphia region. Learn more at lodestarss.com.
ABOUT VESTA
Vesta is a SaaS provider of mortgage loan origination software. The platform provides lenders with a modern system of record, and customizable workflows for an end-to-end mortgage loan fulfillment process. Headquartered in San Francisco, CA, the company was founded by early Blend employees Mike Yu and Devon Yang in 2020. Investors backing Vesta include: Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures and Zigg Capital. For more information, visit: www.usevesta.com, or Vesta’s LinkedIn.
