American Financial Network Archives

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that American Financial Network, Inc. (AFN), a mortgage lender with more than 125 branches nationwide, has adopted CompenSafe(TM) to manage loan originator (LO) compensation plans with greater efficiency and transparency.

Before implementing CompenSafe, AFN's staff accountant manually calculated and tracked commissions using a spreadsheet. LOs did not see their commissions until they received their semi-monthly payroll checks. Now, CompenSafe provides LOs and their managers with real-time commission information as soon as loans are funded.

Moreover, by automating the compensation process, CompenSafe has reduced AFN accountants' administrative workload, enabling AFN to move from semi-monthly to weekly payment of LO commissions without any increase in payroll staff.

"CompenSafe gives LOs a real-time view into their compensation and enables us to pay out commissions on a weekly basis, inspiring confidence in the financial wellbeing of our company," said AFN President John Sherman. "What's more, by automating work that used to be done manually, CompenSafe saves our accounting staff time and decreases the frequency of compensation disputes and corrections."

"In a tough market, savvy lenders are looking for innovative ways to promote growth and maximize their production," said LBA Ware Founder and CEO Lori Brewer. "CompenSafe's unique value lies in its ability to eliminate back-office inefficiency while at the same time providing originators greater insight into their performance and earnings."

About American Financial Network, Inc.:

Established in 2001 by Jack and John Sherman, American Financial Network, Inc. (AFN) is a licensed mortgage lender (NMLS #237341) that is proud to have assisted hundreds of thousands of customers in financing their American dream of homeownership over the last 17 years. AFN is based in Brea, California, is licensed in 48 states plus D.C., and remains on an impressive growth trajectory. AFN is an approved Fannie Mae and Freddie Mac seller/servicer, and an approved issuer for Ginnie Mae. A direct lender with in-house underwriting, AFN offers a full line of mortgage products including: Conventional, FHA, VA, USDA, Jumbo, 203(k) rehab loans and more.

About LBA Ware:

Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that are essential to the way mortgage companies operate. We are a trusted partner and play a key role in our clients' success by enabling them to motivate, incentivize and better leverage the human potential within their organizations. Our applications automate traditionally manual business processes for which an existing software solution does not exist, empowering lenders to create an integrated software environment that maximizes their productivity and operational efficiency. For more information about LBA Ware and our software solutions, visit https://lbaware.com.

Twitter: @LBAWare @AFNcorp #mortgagebanking #digitalmortgage #CompenSafe

LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that American Financial Network, Inc. (AFN), a mortgage lender with more than 125 branches nationwide, has adopted CompenSafe(TM) to manage loan originator (LO) compensation plans with greater efficiency and transparency.

Related link: https://lbaware.com/

IRVINE, Calif. /ScoopCloud/ -- Cloudvirga(TM), a leading provider of digital mortgage software, today announced the deployment of its Cloudvirga Enterprise POS to all 100 branch locations of American Financial Network (AFN), a privately held mortgage company that employs over 750 loan officers and serves tens of thousands of customers nationwide. AFN funded over $5 billion in loans in 2017 and is one of the fastest-growing mortgage lenders in the United States.

The Cloudvirga Enterprise POS is a private-label digital mortgage platform that enables AFN loan officers to convert more prospects into applicants by automatically selecting, comparing and calculating fees for all loan types. Cloudvirga's intelligent lender workflow delivers state-of-the-art features not available in competing platforms to help AFN reduce per-loan production expenses while improving compliance and customer satisfaction.

"Cloudvirga is no mere digital loan application technology," said Cloudvirga Co-founder Kyle Kamrooz. "We provide top lenders like AFN cutting-edge technology that drives down the cost of loan production by reinventing how mortgages are manufactured."

"Cloudvirga is changing how we work in the best possible way," said AFN President John Sherman. "We're removing inefficiency from the mortgage process and freeing our loan officers to take on more loans by focusing their time on the parts of their jobs that require a human touch - like delivering exceptional customer service."

About American Financial Network, Inc.:

Established in 2001 by Jack and John Sherman, American Financial Network, Inc. (AFN) is a licensed mortgage lender (NMLS #237341) that is proud to have assisted hundreds of thousands of customers in financing their American dream of homeownership over the last 17 years. AFN is based in Brea, California; is licensed in 46 states plus Washington, D.C.; and remains on an impressive growth trajectory. AFN is an approved Fannie Mae and Freddie Mac seller/servicer, and an approved issuer for Ginnie Mae. A direct lender with in-house underwriting, AFN offers a full line of mortgage products including: Conventional, FHA, VA, USDA, Jumbo, 203(k) rehabilitation loans and more.

For more information, please visit https://www.afncorp.com/.

About Cloudvirga(TM):

Cloudvirga's digital mortgage point-of-sale (POS) software, powered by the intelligent Mortgage Platform(R), uniquely combines a world-class borrower experience with a truly automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's customer base includes eight of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $77 million from some of the country's top lenders and private-equity firms.

For more information, visit http://www.cloudvirga.com or follow Cloudvirga on LinkedIn.

Cloudvirga(TM), a leading provider of digital mortgage software, today announced the deployment of its Cloudvirga Enterprise POS to all 100 branch locations of American Financial Network (AFN), a privately held mortgage company that employs over 750 loan officers and serves tens of thousands of customers nationwide.

Related link: http://www.cloudvirga.com/

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Tag Archives: American Financial Network

American Financial Network Deploys CompenSafe to Provide Real-Time Reporting of Loan Originator Compensation

American Financial Network Deploys Cloudvirga Digital Mortgage Technology Nationwide