LodeStar Software Solutions, a national provider of closing fee-related compliance tools for mortgage lenders, is partnering with Nationwide Appraisal Network (NAN), a nationwide AMC. The partnership will enable users of LodeStar’s closing fee technology to access appraisal fees for fee estimates across the nation, according to a press release.
Founded in 2013, 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 mortgage lender’s origination system.
“The run-up to a home closing remains one of the least automated and most convoluted aspects of the mortgage process,” LodeStar CEO and co-founder Jim Paolino said in the release. “Our partnership with NAN now enables LOs and brokers to not only deliver instantaneous fee estimates from anywhere nationally with regard to costs like transfer taxes or recording fees, but appraisal fees as well.”
NAN takes a partner-focused, relationship-based approach with its clients, and its unique ability to leverage advanced data and predictive analytics, along with meaningful performance-based appraiser incentives, has allowed them to continually raise the bar on turn times and report quality.
“Once an unnecessarily time-consuming—if not downright inaccurate—task, the process of generating settlement fee estimates and LEs is finally becoming digital,” NAN CEO Joni Pilgrim said. “NAN and LodeStar are leading the way in improving this for clients and consumers alike, and this partnership only accelerates that.”