The integration will streamline and accelerate the generation and delivery of cost estimates and documents mandated by the TILA-RESPA Integrated Disclosure Rule (TRID) ... with guaranteed accuracy and nationwide coverage.
SOUTHFIELD, Mich. (PRWEB) April 13, 2023
Constellation Mortgage Solutions (CMS), enterprise mortgage and servicing technology provider has announced an integration between its loan origination system (LOS) – NOVA and the closing fee calculator provided by LodeStar Software Solutions, a national provider of closing fee-related compliance tools for mortgage lenders.
The new integration is being made directly available to NOVA LOS users and will provide mortgage lenders with 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) and Closing Disclosure (CD) with guaranteed accuracy and nationwide coverage.
“Having immediate access to accurate closing fees is no longer a luxury for mortgage lenders,” said Kelli Himebaugh, Chief Revenue Officer of CMS. “With this partnership, we are helping NOVA LOS users shave valuable time from the origination process as well as providing one & done software administration setup for lender operations. In addition, users of CMS’ Mortgage Builder technology will have access to LodeStar without any system change requirements as they transition to NOVA LOS."
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.
“Clarity is increasingly becoming a non-negotiable element of the mortgage process,” said Jim Paolino, CEO of LodeStar. “With this integration, CMS and its mortgage lender clients are again confirming that the consumer experience, as well as accuracy, is coming to the forefront of mortgage originators’ priorities.”
ABOUT CONSTELLATION MORTGAGE SOLUTIONS
Constellation Mortgage Solutions provides industry-leading lending technology solutions through its products: Award-Winning NOVA LOS, Mortgage Builder LSS, and ReverseVision LOS. As the Gold Standard for mortgage solutions, CMS offers lenders of all sizes enterprise technology empowering Lenders on the front lines with innovative solutions designed to deliver exceptional loan quality, regulatory compliance, and drive profitability. CMS has been working for more than two decades to help mortgage professionals streamline operations and close more loans faster to increase ROI. constellationsolutions.com
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.