Tag Archives: CompenSafe

SimpleNexus’ Mortgage Loan Compensation Report for Q3 2021 shows year-over-year decline in individual LO commission led by waning refi volume

LEHI, Utah /ScoopCloud/ -- SimpleNexus, owner of the recently acquired LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry loan compensation in the third quarter of 2021. Analysis of data from the CompenSafe™ ICM platform showed that declining loan volume in Q3 2021 compared to Q3 2020 pushed quarterly loan originator (LO) commission earnings down 17%. Over the same period, mortgage lenders increased loan processor staffing by roughly a quarter while funding fewer loans, driving average individual processor incentive compensation down by a third.

Methodology

SimpleNexus' LBA Ware team reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the third quarters of both 2020 and 2021. The controlled sample dataset consisted of retail, first-lien production from LOs and loan processors with at least six funded loans during the three-month period beginning July 1, 2021, and ending September 30, 2021.

Key Findings
* Monthly commissions earned per LO in Q3 2021 decreased 17% overall from Q3 2020. Monthly refinance commissions decreased 37%, accounting for most of the shortfall, while monthly purchase loan commissions held relatively steady, rising just 2%.

* Overall, LOs saw a 2.44% decrease in per-loan commission rates from 102.878 basis points (BPS) in Q3 2020 to 100.372 BPS in Q3 2021. Notably, lenders dialed down per-loan commission rates on refinances by 7.17%, from 95.210 BPS in Q3 2020 to 88.384 BPS in Q3 2021. BPS paid out on purchase loans decreased 1.58% from 109.838 to 108.102.

* LOs averaged $2.2M in funded volume per month in Q3 2021, a decrease of 14.9% from Q3 2020 ($2.6M). Purchase volume funded by individual LOs increased 4% from $1.4M in Q3 2020 to $1.5M Q3 2021, and refinance volume declined 32% from $1.3M to $0.9M during the same period.

* LO staffing levels held relatively steady from Q3 2020 to Q3 2021, dipping just 2%. Simultaneously, loans funded per LO per month decreased 22%, with LOs in the sample set averaging 9.0 loans a month in Q3 2020 versus 7.0 loans a month in Q3 2021.

* Loan processor staffing grew 23% from Q3 2020 to Q3 2021. Loan processors averaged 29% fewer loans per month in Q3 2021 (15.2 units) compared to Q3 2020 (21.5 units), fueling a 33% decrease in quarterly bonus compensation earned from $3,201 per processor per month in Q3 2020 to $2,140 in Q3 2021.

"The heyday of ultra-low rates and enormous refinance volume is over, and compensation is starting to settle back to pre-pandemic levels. On the bright side, 2021 is still shaping up to be the second-highest production year in the last decade, with modest growth in the purchase market helping take the edge off declining refinance volumes," said SimpleNexus EVP and General Manager Lori Brewer. "We will be watching to see if lenders reduce headcount or take a more conservative approach to incentive comp to protect margin."

About SimpleNexus, LLC:

Founded in 2011, SimpleNexus is an award-winning developer of mobile-first technology for the modern mortgage lender. Lenders depend on our namesake homeownership platform to unite the people, systems and stages of the mortgage process into a seamless, end-to-end solution that spans engagement, origination, closing and business intelligence. By helping lenders manage their teams and stay connected with borrowers and real estate partners, we deliver a measurable return on investment in the form of reduced turn times, increased loan application submissions and more referral business. A four-time Inc. 5000 company, SimpleNexus has been recognized as one of the world's Best Workplaces for Innovators. For more information, visit https://www.simplenexus.com/ or follow @SimpleNexus.

SimpleNexus, owner of the recently acquired LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry loan compensation in the third quarter of 2021.

Related link: https://simplenexus.com/

LBA Ware welcomes mortgage compliance expert Lyndal McLaughlin to CompenSafe implementation team

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that mortgage industry expert Lyndal McLaughlin has joined its team as a software implementation consultant. In this role, McLaughlin will train and assist lenders as they implement LBA Ware's incentive compensation management (ICM) platform CompenSafe™ to its full capabilities, giving them unrivaled control over their variable compensation plans and processes.

McLaughlin has over 30 years experience in the mortgage industry, first launching her career as a receptionist at a mortgage lender. McLaughlin went on to gain experience in loan origination, processing, underwriting, closing and operations, making her an exceptionally well-rounded player in her field. Most recently McLaughlin served as a compliance product implementation manager for lending compliance risk software company QuestSoft.

"Lyndal possesses an impressive breadth of practical knowledge of the mortgage industry and enthusiasm for supporting clients as they roll out new software," said LBA Ware Founder and CEO Lori Brewer. "Her expertise makes Lyndal a valuable addition to the LBA Ware team. I know she will be an asset to our clients as they seek to maximize the benefits they receive from CompenSafe."

As a software implementation consultant McLaughlin will train LBA Ware clients to use CompenSafe to create more efficient compensation plan management processes, monitor those plans, centralize plan data and effectively communicate the calculation of commissions and bonuses to incentive-eligible employees, giving them full transparency into their pay.

"Given the extremely wide variety of compensation plans that mortgage companies oversee, managing payroll can be a real hassle," said McLaughlin. "That's why I'm thrilled to be working with LBA Ware, a company that offers clients a flexible, automated solution for managing incentive compensation."

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2021 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare #mortgagelending #mortgagetrends #mortgageindustry

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that mortgage industry expert Lyndal McLaughlin has joined its team as a software implementation consultant.

Related link: https://go.lbaware.com/

LBA Ware taps STRATMOR Group alum Angie Middlebrook for mortgage software implementation role

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, announced it has added mortgage industry expert Angie Middlebrook as a software implementation consultant. In this role, Middlebrook will assist lenders as they implement LBA Ware's LimeGear™ BI Platform and ICM platform CompenSafe™ to its full capabilities, advancing them beyond the implementation stage to maximize use of LBA Ware's software solutions.

Middlebrook's software expertise stems from eight years as a STRATMOR Group senior analyst, where her responsibilities ranged from developing data products, compensation strategies and industry studies. Middlebrook worked closely with lenders to increase study participation and analyze data. Prior to STRATMOR Group, Middlebrook was the director of client services at Motivity Solutions, where she worked closely to train clients and instill new capabilities to meet their business objectives.

In addition to Middlebrook's software and analytic background, she launched her career in the mortgage industry as a closer.

"Angie's passion for software gives her a unique edge in helping lenders create efficiencies and grow their businesses," said LBA Ware Founder and CEO Lori Brewer. "Her blend of experience in client services and software development, plus her background in mortgage, makes her a great addition to LBA Ware."

"I've always had a passion for teaching others how to make technology work for them," said Middlebrook. "With my mortgage and software background I completely understand what is happening behind the scenes and how valuable LBA Ware's compensation and business intelligence solutions are."

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

Twitter: @LBAWare #mortgageindustry #mortgagetechnology #mortgagelending #peoplemovers

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, announced it has added mortgage industry expert Angie Middlebrook as a software implementation consultant.

Related link: https://go.lbaware.com/

Michigan First Credit Union Implements CompenSafe by LBA Ware to Facilitate Mortgage Lending Division Growth

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that Michigan First Credit Union (Michigan First) has implemented LBA Ware's ICM platform CompenSafe™ to automate incentive compensation for its mortgage division's 40+ loan originators (LOs) and loan originator assistants (LOAs). After a record-setting 23-day implementation period, Michigan First deployed CompenSafe to automate monthly incentive compensation for its LOs and LOAs and is currently working on rolling it out for its operational staff.

Holding $1.4 billion in total assets, Michigan First is an open credit union serving 175,000 members that live or work in the state of Michigan. Michigan First introduced mortgage lending as a member service in 2014, and originates, underwrites and services all of its mortgage loans in-house. The credit union has substantially grown its mortgage lending division each year, closing 2,000 mortgage loans representing nearly $500 million in volume in 2020.

"I selected CompenSafe to streamline Michigan First's incentive compensation because its efficiency enables us to quickly scale to growth and its flexibility enables us to develop custom incentive compensation plans that motivate our mortgage team to build strong relationships with members," said Michigan First Chief Mortgage Lending Officer Dan Sugg, CMB. "In addition to saving us time, money and energy, CompenSafe provides unparalleled transparency into the compensation process. LOs and sales team leaders frequently check their CompenSafe dashboard for pay and productivity updates as loans move through the pipeline."

CompenSafe is the only ICM platform purpose-built for mortgage lenders. By integrating directly with mortgage loan origination systems (LOSs), CompenSafe automatically calculates commissions and bonuses as loans fund in near real-time. In addition to freeing lenders from the error-prone, time-consuming process of managing incentive compensation with spreadsheets, CompenSafe tracks and time-stamps all commission transactions, creating a comprehensive audit trail for CFPB compliance.

"Credit unions seeking to forge stronger ties with members through mortgage lending benefit from automating the burdensome chore of managing incentive compensation so they can focus on what matters most: the member experience," said LBA Ware Founder and CEO Lori Brewer. "LBA Ware understands that empowering lenders with the latitude to develop specialized incentive compensation structures helps motivate loan teams to meet productivity goals and deliver a better member experience. We're honored that Michigan First has selected CompenSafe to facilitate its mortgage lending division's growth."

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

About Michigan First Credit Union:

With over $1.3 billion in assets, Michigan First Credit Union has represented financial stability to its members since 1926 and now serves over 175,000 area residents and businesses. The credit union continues growing strong by providing the best in financial products and services to its valued members. Learn more at www.michiganfirst.com.

Twitter: @LBAWare #CompenSafe #creditunion #mortgagelending

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that Michigan First Credit Union (Michigan First) has implemented LBA Ware's ICM platform CompenSafe to automate incentive compensation for its mortgage division's 40+ loan originators (LOs) and loan originator assistants (LOAs).

Related link: https://go.lbaware.com/

LBA Ware Issues Q4 2020 Loan Compensation Report, Includes Summary of 2020 Loan Originator Commission Trends

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry incentive compensation in the fourth quarter of 2020 and loan originator (LO) commissions for the year as a whole. The firm's analysis of data from its CompenSafe™ ICM platform shows that robust refinance and purchase loan volume in Q4 contributed to markedly higher earnings for both LOs and loan processors in 2020 when compared to the same period in 2019.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the fourth quarters of 2019 and 2020. The controlled, sample dataset consisted of retail, first-lien production from LOs and processors with at least six funded loans during the three-month period beginning October 1, 2020, and ending December 31, 2020. LBA Ware also reviewed full 2020 calendar-year production for the same sample dataset.

Q4 2020 Key Findings

* Total loan volume funded increased 106% in Q4 2020 compared to Q4 2019.
* LO headcount increased 27% year-over-year.
* Average individual production in Q4 2020 was $2.6M per month, an increase of 63% from $1.6M in Q4 2019.
* Per-loan LO commissions held relatively steady, decreasing 0.2% from 105.4 basis points (BPS) in Q4 2019 to 105.2 BPS in Q4 2020.
* Purchase volume grew 71% year-over-year with LOs averaging $1.35M in funded purchase loans per month in Q4 2020 (a 38% increase from $0.98M in Q4 2019) and receiving on average 111.1 BPS per purchase loan (up from 109.1 BPS in Q4 2019).
* Refinance volume grew 158%, accounting for 51% of total volume funded in Q4 2020 (versus only 41% of total volume funded in Q4 2019). LO commissions on refinance loans remained steady at 99.3 BPS in Q4 2020 compared to 99.2 BPS in Q4 2019.
* Processor headcount increased 51% year-over-year, allowing this group to handle 99% more loan files in Q4 2020 compared to Q4 2019.
* Per-loan bonus compensation earned by processors increased 21% to $128 per loan in Q4 2020 ($106 in 2019), earning processors an average production bonus of $2,503 per month ($1,569 in 2019).

2020 Loan Originator Commission Trends

* On average, LOs funded $20.4M in annual volume in 2020, with transactions split evenly at 50% purchase loans, 50% refinance loans.
* Per-loan commissions earned by LOs in 2020 averaged 105.5 BPS, with refinance loans averaging 100.2 BPS and purchase loans averaging 110.6 BPS.

"Low interest rates flamed an increased demand for mortgage activity, which in turn benefited LOs and processors. They were rewarded for their long hours with robust compensation checks," said LBA Ware Founder and CEO Lori Brewer. "As rates are predicted to rise in 2021 and for several years to come, loan teams that wish to maintain their earnings would do well to put a strategy in place that enables them to offset waning refi volume with more purchase volume."

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

Twitter: @LBAWare #CompenSafe #mortgagetrends #LOcompensation

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry incentive compensation in the fourth quarter of 2020 and loan originator (LO) commissions for the year as a whole.

Related link: https://go.lbaware.com/

LBA Ware Recruits Kim Schnieders to Propel Sales Strategy, Accelerate Rapid Business Growth Among Mortgage Bankers

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, announced today it has hired sales executive Kim Schnieders as senior sales consultant. Schnieders will support the expansion of LBA Ware's business development strategy during its rapid growth, driving revenue and supporting the influx of mortgage lenders implementing its award-winning technology.

With more than 20 years in C-Suite sales and account management, Schnieders brings to LBA Ware acute insight from her experience in the mortgage and technology sectors. Previously a sales and business development executive with mortgage risk management and compliance services provider MQMR, Schnieders has a proven track record of success managing sales cycles from lead generation to contract execution to help companies increase market share and revenue growth. Schnieders has also held management- and executive-level positions at QuestSoft, Calyx Software and Bank of America.

"Our industry is built on trust and collaboration, so Kim's ability to forge strategic partnerships and champion sales immediately caught our eye," said LBA Ware Founder and CEO Lori Brewer. "We proudly entrust her to nurture our client relationships, cultivate new opportunities and deliver on LBA Ware's excellent client experience standards."

In her new role, Schnieders will identify and capture strategic client accounts matching LBA Ware's key business objectives, expanding reach and demand for its LimeGear(TM) and CompenSafe(TM) products. Developed specifically for the mortgage industry, CompenSafe is an automated ICM platform that bridges the gap between lenders' loan origination and payroll systems to eliminate manual data entry and provide actionable insight into staff performance and profitability. LimeGear is a turnkey business intelligence platform that enables mortgage lenders to deploy unified data strategies across their organizations for actionable insights into productivity and efficiency.

"Learning to think like a mortgage banker is the obvious secret to earning their trust, so I have made it my mission to dive deep into what matters most to my clients," said Schnieders. "Lending executives need visibility into analytics central to their success, such as LO performance and problems looming in their loan pipelines. I am thrilled to be part of an organization that is committed to supporting lenders' drive for operational excellence."

About LBA Ware(TM):

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare #mortgageindustry #mortgagetechnology #mortgagelending #peoplemovers

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, announced today it has hired sales executive Kim Schnieders as senior sales consultant. Schnieders will support the expansion of LBA Ware's business development strategy during its rapid growth, driving revenue and supporting the influx of mortgage lenders implementing its award-winning technology.

Related link: https://go.lbaware.com/

LBA Ware Signs RWM Home Loans as 100th Mortgage Lender Client Amid Continued Growth

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today welcomed its 100th CompenSafe(TM) client, RWM Home Loans. The San Diego-based independent mortgage bank is rolling out the mortgage-industry-specific platform to manage incentive compensation for its 100 loan originators (LO) and other recipients of variable compensation.

The announcement comes during a period of strong growth for LBA Ware. In the first half of 2020 alone, CompenSafe calculated commissions for over $100 billion in funded loan volume. Since its inception, CompenSafe has calculated over $8 billion in loan compensation.

"Entrepreneurship is a deeply embedded value at RWM Home Loans. We offer not only LOs but also operations and fulfillment staff the opportunity to earn performance-based incentives," said RWM Home Loans Director of Corporate Development Taylor Sims. "The whole team is excited about being able to view bonuses, commissions and draw balances the same day a loan is funded rather than waiting for twice-monthly reporting."

Built for the mortgage industry, CompenSafe is an automated ICM platform that bridges the gap between lenders' loan origination and payroll systems to eliminate manual data entry and provide actionable insight into staff performance and profitability. Before CompenSafe, Sims' team at RWM Home Loans was exporting production data from the firm's loan origination system and then manually keying commission calculations into its accounting software. The process was so time-consuming that it was impossible to communicate compensation information more than a couple days ahead of each payday. Calculating and communicating quarterly non-discretionary bonuses was even more arduous.

"After especially strong growth over the last five years - including a substantial increase in loan volume in 2020 - it became clear that we needed an incentive compensation solution better aligned with our organizational focus on automating non-client-facing activities," Sims said. "I know CompenSafe will save my team a tremendous amount of time. Motivating RWM Home Loans employees with immediate visibility into their earnings is the cherry on top."

"We are delighted to welcome RWM Home Loans to the CompenSafe family," said LBA Ware Founder and CEO Lori Brewer. "Our century client is a significant milestone and a testament to the lasting relevance of LBA Ware as a provider of innovative software solutions that deliver necessary and meaningful results to mortgage lenders."

About LBA Ware:

LBA Ware(TM) is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

About RWM Home Loans:

Headquartered in San Diego, RWM Home Loans is a direct lender serving local customers throughout the West Coast and Southwestern United States. Founded in 1994 by career mortgage professionals Brad and Susanne Livingston, RWM Home Loans has closed over 10,000 mortgage transactions with a focus on consistently offering the lowest possible rates and fees and treating our clients with honesty and integrity. For more information, visit https://www.rwmloans.com.

Twitter: @LBAWare @RWMILoans #mortgageindustry #mortgagetechnology #mortgagelending

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today welcomed its 100th CompenSafe client, RWM Home Loans. The San Diego-based independent mortgage bank is rolling out the mortgage-industry-specific platform to manage incentive compensation for its 100 loan originators (LO) and other recipients of variable compensation.

Related link: https://go.lbaware.com/

LBA Ware Issues Q2 2020 Mortgage Loan Originator Compensation Report

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in the second quarter of 2020. The firm's analysis of data from its CompenSafe(TM) ICM platform shows significant refinance volume growth in Q2 2020 compared to Q2 2019 contributed to a 59% year-over-year increase in total loan originator (LO) commissions paid over the three-month period.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the second quarter of 2020. The controlled, sample dataset consisted of retail, first-lien production from LOs who funded at least six loans during the three-month period beginning April 1, 2020, and ending June 30, 2020.

Key Findings
* Commissions earned by LOs in Q2 2020 increased 59% from Q2 2019, because the average LO originated and funded 63% more volume in Q2 2020 ($2.4M per month) versus Q2 2019 ($1.4M per month).
* Refinance transactions drove the market in Q2 2020, accounting for 56% of total volume funded in the quarter (versus only 21% of total volume funded in Q2 2019). LOs averaged $1.4M in funded refinance volume per month, an increase of more than 230% over Q2 2019.
* Although paychecks were larger in Q2 2020 than Q2 2019, the uptick in refinance production contributed to a 2.7% decrease in per-loan commissions from 108 basis points in Q2 2019 to 105 basis points in Q2 2020. Refinance leads are more likely to be company-generated versus self-sourced, so they tend to pay out at a lower rate than purchase loans, averaging 100 basis points in Q2 2020 compared to 110 basis points paid out for purchase loans.
* Purchase volume held steady year-over-year with LOs averaging $1.08M in funded purchase loans per month ($1.16M in Q2 2019) and receiving on average 109.9 basis points per purchase loan (109.7 in Q2 2019).

"In this year of bleak economic news, surging refinance volume and steady home purchase business have been bright spots. Low rates have fortified lenders' pipelines and put more money in originators' paychecks," said LBA Ware founder and CEO Lori Brewer. "LO commissions paid out during the three-month period are up 59% over 2019. I just hope some of that hard-earned money gets set aside for the rainy days that are bound to follow expected increases in unemployment and loan defaults."

About LBA Ware(TM):

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

Twitter: @LBAWare #CompenSafe #mortgagetrends #LOcompensation

*IMAGE link for media: https://www.Send2Press.com/300dpi/20-0723s2p-lba-chart-300dpi.jpg

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in the second quarter of 2020.

Related link: https://go.lbaware.com/

LBA Ware Publishes Findings of Top-10 Lender’s Compensation Automation Cost-Benefit Analysis

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released the findings of a cost-benefit analysis quantifying one mortgage lender's expected return on investment after implementing CompenSafe(TM).

Built for the mortgage industry, CompenSafe is an automated ICM platform that bridges the gap between lenders' loan origination and payroll systems to eliminate manual data entry and provide actionable insight into staff performance and profitability.

Conducted by a top-10 U.S. mortgage lender, the comprehensive ROI analysis spanned five phases: (1) quantifying the company's current costs related to managing incentive compensation; (2) identifying opportunities for process improvement; (3) defining system requirements for compensation automation; (4) weighing the pros and cons of building an in-house solution against available off-the-shelf software; and (5) estimating the cost savings provided by the chosen solution, CompenSafe(TM).

The lender found it was spending $346,000 a year in labor costs directly attributable to the manual calculation of incentive compensation. In addition, the compensation team was spending untold hours each month answering employee questions, setting up new plans and preparing payroll files. The lender also estimated it was spending between $500,000 to $1 million per year in overpayments caused by manual errors in calculating incentive compensation. According to the lender's analysis, implementing CompenSafe will allow it to recoup an estimated $900,000 in annualized savings by automating manual tasks, eliminating redundant processes and reducing overpayments.

The full case study is available for download here.

About LBA Ware(TM):

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia.

For more information, visit https://www.lbaware.com.

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released the findings of a cost-benefit analysis quantifying one mortgage lender's expected return on investment after implementing CompenSafe.

Related link: https://go.lbaware.com/

LBA Ware Issues Q1 2020 LO Compensation Report

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in the first quarter of 2020. The firm's analysis of data from its CompenSafe(TM) ICM platform shows business grew significantly for lenders across Q1, culminating in March commission payouts that were the highest reported in the last six months.

Methodology

LBA Ware reviewed account data for mortgage lenders that used CompenSafe to automate incentive compensation management throughout the first quarter of 2020. The controlled, sample dataset consisted of retail, first-lien production from LOs who funded at least six loans during the six-month period ending March 31, 2020.

Key Findings

* The total number of loan units funded by the sample group increased by 58.5% from January to March. Over the same time period, total loan volume increased by 66.1%, which translated to an increase in average loan volume per LO from $1.17M in January to $1.85M in March. The portion of funded loan volume attributable to refinances reached 48% in March, an increase of 6% from January.

* Together, these unit and volume gains led to month-over-month increases in loan commissions earned of 14.2% from January to February and 46.9% from February to March.

* Overall, average commissions paid to LOs increased 1.1% from 104.0 basis points in January to 105.1 basis points in March. Broken out by loan purpose, LO commissions on refinances increased 3.1% (from 96.0 basis points in January to 99.0 basis points in March) compared to just 0.9% growth in purchase commissions (from 109.0 basis points in January to 110.1 basis points in March).

* The average March loan amount was $283,900, up from 2019's average of $259,652, helping LOs reach an average of $18,907 in total commissions for the month.

"Intense market demand for mortgages, including refis, helped loan originators earn average commissions approaching $19,000 in March," said LBA Ware founder and CEO Lori Brewer. "LOs may want to sock some of that payday away as the industry braces for a protracted economic recession, job losses and stiffer underwriting criteria."

About LBA Ware

LBA Ware(TM) is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

*IMAGE link for media: https://www.Send2Press.com/300dpi/20-0417s2p-lba-2020-q1lo-300dpi.jpg

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in the first quarter of 2020.

Related link: https://go.lbaware.com/

Alpine Bank Selects CompenSafe by LBA Ware for Efficient, Accurate and Scalable Compensation Plan Management

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, announced that full-service community bank Alpine Bank has implemented CompenSafe™ to automate incentive compensation for its mortgage loan originators and fulfillment staff.

Headquartered in Glenwood Springs, Colorado, Alpine Bank's mortgage division serves the home purchase and refinance needs of borrowers throughout the state's Western Slope and Front Range regions. The bank offers monthly commission opportunities to its 16 mortgage loan originators and awards per-file bonuses to processing, closing and underwriting staff. Although the mortgage division is small, Alpine Bank has a variety of compensation plans that pay out differently depending on the originator's experience and how established they are in the market.

Managing, calculating and communicating incentive compensation back to employees used to be something Mortgage Division President Dave Roberts did manually, but since the beginning of the year, Alpine Bank has been using LBA Ware's CompenSafe to complete those processes more efficiently and with greater accuracy.

"Calculating commissions and bonuses using spreadsheets is time-consuming and, like all manual processes, subject to fat-finger mistakes," Roberts said. "CompenSafe eliminates the opportunity for error by capturing pipeline information directly from our loan origination system. Pay is calculated automatically and available for employee review at the same time each month, like clockwork, no matter what else is on my plate."

"CompenSafe helps lending operations of every size transform incentive compensation from a process that's a drag on resources to one that is pinpoint accurate and effortlessly scalable," said LBA Ware Founder and CEO Lori Brewer. "It's a perfect match for a community bank like Alpine that remains rooted in values like service and transparency even as it continues to modernize and grow."

About Alpine Bank:

Employee-owned and locally operated, Alpine Bank is a full-service community bank that has been a part of Colorado since 1973. With 40 convenient locations from Durango to Denver, including Front Range branches in Denver and Boulder, Alpine Bank serves 140,000 customers with personal, business, wealth management, mortgage and electronic banking services. Alpine Bank's employees and managers, many of whom have been with the bank for 10 years or longer, share a commitment to remaining a true community bank offering localized and dedicated service. For more information, visit https://www.alpinebank.com/.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top-producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://lbaware.com.

Twitter: @LBAWare @AlpineBankColo #CompenSafe

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, announced that full-service community bank Alpine Bank has implemented CompenSafe™ to automate incentive compensation for its mortgage loan originators and fulfillment staff.

Related link: https://go.lbaware.com/

LBA Ware Recognized as 2020 HW Tech100 Company for Helping Mortgage Lenders Drive Profitability with Performance Management Software

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, announced it has been named a winner of HousingWire's annual HW Tech100 award, which recognizes the most innovative and impactful technology companies in the U.S. housing economy. This is LBA Ware's sixth consecutive year to be included in the list.

LBA Ware was recognized for its suite of software solutions designed exclusively for mortgage lenders, including CompenSafe™, the only incentive compensation management platform of its kind, and the introduction of LimeGear, a turnkey business intelligence platform. To date, LBA Ware has processed over $4.6 billion in lifetime incentive compensation while helping lenders optimize performance.

"We are honored to be recognized by HousingWire for a sixth consecutive year," said LBA Ware Founder and CEO Lori Brewer. "Because every lender approaches incentive compensation differently, CompenSafe's mission to simplify compensation plan management is a labor of constant innovation. That same innovative spirit fuels our LimeGear business intelligence solution, which shows mortgage lenders what's happening in their businesses (and why) and indicates next steps for continued success."

"Fintech companies continue to create new ways to approach the housing process, improving efficiencies, cutting costs and creating a new experience for all parties involved," said HousingWire Associate Magazine Editor Kelsey Ramírez.

"The winners of the 2020 HousingWire Tech100 Mortgage and Real Estate awards are truly the most impactful and innovative companies in housing," added HousingWire CEO Clayton Collins. "Not only do these companies empower their clients and users, they are supporting a more efficient, accessible and sustainable housing economy."

To view the complete list of 2020 HW Tech100 winners, visit https://www.housingwire.com/articles/here-are-the-2020-housingwire-tech100-mortgage-winners/.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top-producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 7.5 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit https://www.housingwire.com/ or https://www.solutions.housingwire.com/ to learn more.

Twitter: @LBAWare @HousingWire #Tech100

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, announced it has been named a winner of HousingWire's annual HW Tech100 award, which recognizes the most innovative and impactful technology companies in the U.S. housing economy.

Related link: https://go.lbaware.com/

LBA Ware Releases 2019 LO Compensation Report

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in 2019. The firm's analysis of year-over-year data from its CompenSafe(TM) ICM platform reveals compelling trends about how mortgage lenders nationwide are managing commissions for loan originators (LOs).

Methodology

LBA Ware reviewed account data for mortgage lenders that used CompenSafe to automate incentive compensation management for the full calendar years 2018 and 2019. The controlled, sample dataset consisted of retail, first-lien production from LOs that funded at least six loans in one of the calendar years. The LO commissions were for a wide range of large and small lenders across the United States, comprised of 68 percent independent mortgage companies, 27 percent banks and 5 percent credit unions.

Key Findings
* The sample group funded significantly more loans in 2019 than 2018, with the total number of closed loans up 18.28% and total loan volume up 29.44% year-over-year. Together, these unit and volume gains resulted in an additional 31.42% in LO commissions paid in 2019 vs. 2018.

* The average base commission earned by LOs in 2019 was 93.912 basis points, on par with 2018's average of 93.114. After accounting for commission tiers and minimum/maximum caps, LOs earned an average of 102.089 basis points per loan in 2019 compared with 2018's average of 100.594 basis points, an average increase of 1.49 basis points per funded loan.

* The average 2019 loan amount was $259,652, up 9.43% year-over-year. This higher average loan amount helped push the average LO commission per loan from $2,332 to $2,591 (an 11.11% year-over-year increase).

* Loan originators continue to account for the lion's share of compensation expenses, with LO commissions accounting for 69% of lenders' total incentive compensation expenditure.

* Overall LO employment was nearly flat for our sample group from 2018 to 2019, with the total number of LOs on payroll down a mere 0.14% year-over-year.

"Despite speculation that lender efforts to reduce operational costs would include curbing loan originator commissions in 2019, our analysis shows that base commission for LOs did not significantly change from 2018 to 2019," said LBA Ware founder and CEO Lori Brewer. "This data implies that lenders may not get serious about reducing LO commissions until they're in significant financial pain, which isn't predicted to happen until later in 2020, when refinance volume is expected to wane."

About LBA Ware(TM):

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://lbaware.com.

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in 2019. The firm's analysis of year-over-year data from its CompenSafe ICM platform reveals compelling trends about how mortgage lenders nationwide are managing commissions for loan originators (LOs).

Related link: https://go.lbaware.com/

LBA Ware’s CompenSafe™ Enhances the Loan Originator Experience at Guaranteed Rate

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that Guaranteed Rate Companies has improved internal processes and enhanced the loan originator (LO) experience with the implementation of CompenSafe(TM). One of the largest retail mortgage lenders in the United States, Guaranteed Rate has deployed CompenSafe nationwide to improve its automated compensation process for nearly 1,500 LOs and other bonus-eligible employees.

According to Ken Kane, Chief Accounting Officer for Guaranteed Rate, the switch from manual, spreadsheet-based incentive calculation to an automated solution tailor-made for the mortgage industry has enabled Guaranteed Rate Companies to scale more efficiently. It's also freed the lender's accounting staff to spend less time preparing compensation statements and more time on compensation review, which helps the company reduce risk and provide a better experience for LOs.

"Since Guaranteed Rate is a sales-driven company, our leadership team seeks out the most innovative tools to enable efficiency so our loan originators can focus on their customers," said Kane. "We consistently strive to provide the best overall experience, which includes a quality compensation product. CompenSafe delivers process improvements that empower our support staff to work smarter, not harder."

"Lenders of all sizes - from community banks and independent mortgage lenders to companies like Guaranteed Rate that are leading the industry in loan production - need technologies that allow employees to focus on the tasks that add the most value," said LBA Ware Founder and CEO Lori Brewer. "CompenSafe delivers immediate gains in operational efficiency while simultaneously improving the compensation experience for any lender's most important asset: its loan teams."

For more information, visit https://lbaware.com/compensafe.

About LBA Ware(TM):

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations.

A 2019 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://lbaware.com.

Twitter: @LBAWare @GuaranteedRate #CompenSafe #automation #processimprovement #compensation #LOcomp #incentivizeperformance

*LOGO link for Media: https://www.Send2Press.com/300dpi/19-0923s2p-lbaware-300dpi.jpg

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that Guaranteed Rate Companies has improved internal processes and enhanced the loan originator (LO) experience with the implementation of CompenSafe.

Related link: https://lbaware.com/

LBA Ware’s CompenSafe Finishes 2Q19 with $3.6B in Lifetime Compensation Calculations

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, closed the second quarter of 2019 having completed $3,622,659,995 in lifetime calculations of origination commissions, management overrides and operational bonuses through its CompenSafe(TM) sales incentive platform.

2Q19 was an explosive quarter for new loan production overall, according to estimates published by Inside Mortgage Finance, and CompenSafe considerably outpaced overall industry growth, processing a daily average of $1.7 billion in new application volume and over $1.1 billion in funded loan volume (a 64.35% increase and 40.2% increase from 2Q18, respectively).

"CompenSafe has been gaining momentum with banks, credit unions and independent mortgage lenders eager to shed the inefficiency and headaches of manual incentive calculation and leverage their compensation data to make more incisive business decisions," said LBA Ware Founder and CEO Lori Brewer. "The last quarter saw much-needed industry gains in loan production, and we are proud to have responded to the increased system demands of industry growth with continued service excellence."

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 #mortgagebanking #digitalmortgage #CompenSafe @IMFpubs

LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, closed the second quarter of 2019 having completed $3,622,659,995 in lifetime calculations of origination commissions, management overrides and operational bonuses through its CompenSafe(TM) sales incentive platform.

Related link: https://lbaware.com/

CMG Financial Accelerates Loan Originator Compensation and Delivers Loan-Level Insights to Management with LBA Ware’s CompenSafe

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, has partnered with CMG Financial to streamline incentive compensation for the lender's more than 500 loan originators (LOs) and other commission- and bonus-based employees.

"As our retail business volume grew, it was important to find a technology to automate compensation calculations for commissions, bonuses and overrides," said CMG Financial Vice President of Human Resources Melissa Harbourne. "The implementation of CompenSafe has not only alleviated the strain of manual calculations, allowing us to strategically reallocate resources, but also opened a window of real-time visibility into compensation and bonus earnings. Providing that visibility not only to our retail employees, but also to our cross-functional departments such as our compensation team, HR business partners and payroll staff allows these support functions to resolve compensation disputes from the business unit in a timely and efficient manner."

Branch and senior managers at CMG Financial have also begun leveraging CompenSafe's reporting capabilities to improve pipeline management and monitor expenses. Built-in reports make it easy for managers to compare current production to historical trends, and they now know exactly how much the company is paying out in commissions and bonuses at the individual loan level.

"A critical aspect of developing and retaining LO talent is building trust, transparency and accountability into the fabric of daily operations," said LBA Ware Founder and CEO Lori Brewer. "CompenSafe helps CMG Financial deliver on its commitment to these values and delivers efficiencies and business insights that scale with the company's growth."

About CMG Financial

CMG Financial is a well-capitalized, privately held mortgage-banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels, including Retail Lending, Wholesale Lending and Correspondent Lending.

CMG Financial currently operates in all states, including the District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA and FHLMC. Throughout the mortgage banking and housing markets, CMG Financial is widely known for responsible lending practices, industry and consumer advocacy, product innovation and operational efficiency. More information: https://www.cmgfi.com/.

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 @CMGFI #mortgagebanking #digitalmortgage #CompenSafe

LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, has partnered with CMG Financial to streamline incentive compensation for the lender's more than 500 loan originators (LOs) and other commission- and bonus-based employees.

Related link: https://lbaware.com/

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

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/

United Community Bank Picks LBA Ware’s CompenSafe for Efficient, Flexible Automation of Loan Originator and Processor Commissions

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that Georgia-based United Community Banks, Inc. (NASDAQ: UCBI) ("United") has deployed CompenSafe(TM) to automate loan originator (LO) and processor commissions.

The FDIC-insured community bank has been using CompenSafe to efficiently and compliantly automate commissions for its 80 LOs and supporting loan processors since August. CompenSafe's built-in integrations with the bank's payroll provider and Ellie Mae(R) Encompass(R) loan origination system (LOS) helped make the bank's transition away from spreadsheets a smooth one.

"Before CompenSafe, our commissions process was arduous and ate up a lot of man-hours," said Mike Davies, president of United Community Bank Mortgage Services, the mortgage lending division of United. "Our outdated process required several steps with manual input that we knew would not be sustainable as our company continues to grow."

"We wanted a more efficient process - something that would stand up to audits and that could be monitored, managed and scaled for growth," Davies continued. "CompenSafe was a brilliant choice for us because of its out-of-the-box integrations with our payroll and origination systems. It's greatly simplified the commissions process and given our HR, accounting and audit departments a high degree of confidence that everything is done with exactness and thoroughly documented."

CompenSafe gives United much-needed flexibility to control its own compensation schedules, including the ability to specify multiple KPIs and payout tiers. For example, while the bank's LOs earn commissions based on the number and volume of loans closed, its processors are bonused based on performance metrics like speed and quality. Commission projections are updated automatically in CompenSafe as loans close and are available to LOs and processors on-demand to help motivate performance.

"We're proud to offer United Community Bank a flexible solution for automating not just LO commissions, but also performance-based bonus payouts for loan processors, whose quality and speed of work is essential to delivering an exceptional borrower experience," said LBA Founder and CEO Lori Brewer. "CompenSafe helps producers stay motivated and lets banks say goodbye to manual, spreadsheet-driven processes without missing a beat when it comes to maintaining a compliant audit trail."

About United Community Banks, Inc.:

United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company headquartered in Blairsville, Georgia with $12.4 billion in assets. The company's banking subsidiary, United Community Bank, is one of the southeast region's largest full-service banks, operating 150 offices in Georgia, North Carolina, South Carolina and Tennessee at the end of the most recent quarter. The bank specializes in personalized community banking services for individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products including mortgage, advisory, and treasury management. Respected national research firms consistently recognize United Community Bank for outstanding customer service.

For the last five years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast. In 2018, for the fifth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America. Additional information about the company and the bank's full range of products and services can be found at https://www.ucbi.com/.

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 organization. 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 @ucbi #CompenSafe

LBA Ware, provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that Georgia-based United Community Banks, Inc. (NASDAQ: UCBI) ("United") has deployed CompenSafe to automate loan originator (LO) and processor commissions.

Related link: https://lbaware.com/

Inlanta Mortgage Integrates CompenSafe with LendingQB

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that Wisconsin-based Inlanta Mortgage has completed integration between LBA Ware's CompenSafe(TM) automated compensation calculation platform and LendingQB's cloud-based loan origination solution (LOS). Through the integration, Inlanta is able to leverage real-time loan production data to automatically calculate compensation for each of its 100+ loan originators (LOs).

"CompenSafe provides tremendous value to our organization. Not only does the system save us time on payroll and commission processing, it also has a robust suite of reports and analytics that you might find in tools costing thousands of dollars a month. We really looked at it like getting two tools for the price of one," said John Watry, Chief Financial Officer of Inlanta Mortgage.

As the mortgage industry's first web-based software for automated compensation calculations, CompenSafe creates a direct link between the LendingQB platform and Inlanta's existing payroll system to eliminate manual data entry and human errors in the payroll process. Through this integration, Inlanta's branch managers gain a wealth of actionable insight into staff performance and profitability, while LOs are able to view the status of their compensation in real time.

"Compensation has been a thorn in many lenders' sides because it has traditionally been a manual process that required coordination between multiple, disparate systems," said Lori Brewer, Founder and CEO of LBA Ware. "CompenSafe bridges the gap between these systems to create a unified, automated process for managing multiple compensation plans."

"Loan originator compensation is a major issue for lenders," said Tim Nguyen, President of LendingQB. "Integrating to LBA Ware's CompenSafe product allows our clients to track and analyze their compensation plans more easily and with better insight. This affirms our belief that an open API model allows our clients to address their most critical business issues specifically and efficiently."

About Inlanta Mortgage:
Headquartered in Pewaukee, Wisc., Inlanta Mortgage was established in 1993 and is celebrating its 25th anniversary in 2018. The company has grown to over 40 branches in 20 states and over 250 employees. Inlanta Mortgage's mission is to be the home financing partner that you trust to serve your family, friends, and community. Their team of dedicated mortgage professionals is committed to delivering an exceptional experience using honest and ethical lending practices.

Inlanta Mortgage was named a Milwaukee Journal Sentinel Top Workplace in 2014, 2015, and 2016. Inlanta has also been recognized as one of the "50 Best Mortgage Companies to Work For" by Mortgage Executive Magazine and one of the country's "Top Mortgage Employers" by National Mortgage Professional. For more information, visit http://www.inlanta.com/.

About LendingQB:
LendingQB is a provider of Lean Lending solutions for residential mortgage banking organizations. The Lean Lending solution consists of a 100 percent web browser-based, end-to-end loan origination system, best of breed integrations with key industry partners and 'adoptimization' services that result in faster cycle times and lower costs per loan. For more information, please call 888-285-3912 or visit http://www.lendingqb.com.

About LBA Ware:
Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that become essential to the way mortgage companies operate. We strive to be 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 organization. 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 their software solutions, visit http://lbaware.com.

LBA Ware, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that Wisconsin-based Inlanta Mortgage has completed integration between LBA Ware's CompenSafe automated compensation calculation platform and LendingQB's cloud-based loan origination solution (LOS). Through the integration, Inlanta is able to leverage real-time loan production data to automatically calculate compensation for each of its 100+ loan originators.

Related link: http://lbaware.com/

Movement Mortgage Implements CompenSafe to Automate LO Compensation

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that South Carolina-based Movement Mortgage has implemented CompenSafe(TM) to automatically calculate commissions for its loan originators (LOs) located in 700 branches across 49 states.

"When I joined Movement Mortgage, I was tasked with identifying a compensation tool that would bring increased efficiency, accuracy and transparency to our payroll process and keep pace with our rapidly expanding sales force," said Aubrey Ratchford, Finance Director of Compensation at Movement Mortgage. "After coming across CompenSafe in my research, I discovered that several of our employees had previous experience with the system so we ultimately chose CompenSafe to automate our commission calculations."

"Since implementing CompenSafe, the amount of time and frustration our payroll team experiences have decreased significantly, and our LOs have better visibility into their anticipated compensation each month, which they love," Ratchford added. "In addition, having compensation systematically calculated and captured has reduced the amount of time and effort required to produce accurate financials."

CompenSafe is the first mortgage industry-specific software that integrates loan origination system (LOS) data with LO-specific commission package conditions to automatically calculate commissions in real time, thereby reducing compensation errors and streamlining the overall payroll process. In addition, LOs can view their anticipated compensation through CompenSafe anytime, providing transparency into the commission calculation process and supporting lenders' LO retention strategies.

"Successful lenders find that as they grow, the demands that compensation calculation places on the payroll team can exceed the capacity of homegrown solutions," said Lori Brewer, CEO of LBA Ware. "CompenSafe alleviates this immense burden by calculating compensation automatically. This optimizes efficiency for payroll teams and allows lenders to source and retain top LO talent with custom compensation plans and providing the peace of mind of transparent and accurate commissions calculation."

About Movement Mortgage:
Movement Mortgage, a national top 10 retail mortgage lender, exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company, a certified Great Place to Work, employs more than 4,300 people, has more than 700 branches in the U.S. spanning across 49 states. Its non-profit organization, The Movement Foundation, has reinvested more than $30 million in communities to date. For more information, visit https://movement.com.

About LBA Ware(TM):
Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that become essential to the way mortgage companies operate. We strive to be 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 organization. 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 their software solutions, visit http://lbaware.com.

Twitter: @LBAWare @MovementMtg #LOComp #mortgage

LBA Ware, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that South Carolina-based Movement Mortgage has implemented CompenSafe to automatically calculate commissions for its loan originators (LOs) located in 700 branches across 49 states.

Related link: http://lbaware.com/

LBA Ware’s CompenSafe Hits $1 Billion in Lifetime LO Compensation Calculations

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced their sales incentive platform CompenSafe calculated $1 billion in lifetime origination commissions and operational bonuses in 2017. LBA Ware also experienced notable year-over-year growth, marked by a 152 percent increase in total compensation processed and a 130 percent increase in the number of lenders using LOS Talker, the company's systems integration solution.

"2017 has been a year of extraordinary achievement for LBA Ware, marked by more than 100 percent growth for both CompenSafe and LOS Talker, and by reaching the $1 billion mark in compensation calculated by CompenSafe, we're now proud members of the 'three comma club," said Lori Brewer, CEO of LBA Ware. "Our clients' success is our success. We provide the go-to platform for incentive compensation, sales performance and actionable insights on which to build a lasting company with motivated, informed and empowered individuals."

In addition to new business growth, LBA Ware has also charted excellent helpdesk and training statistics in 2017. The company averaged a 96 percent approval for help desk tickets solved and responded to 80 percent of helpdesk tickets within 24 hours, and company staff received 1,122 hours of internal training.

"LBA Ware has set itself apart as a company that knows the mortgage industry from the ground up and truly understands what our clients expect and need from our solutions," said Brewer. "Our commitment to providing staff with internal training and offering customers with top-notch support continues to drive the success of our larger strategy to grow business by administering a seamless user experience and delivering superior customer satisfaction. We will continue to prioritize our customers by investing in staff training as growth and need demand."

About LBA Ware:

Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that become essential to the way mortgage companies operate. We strive to be 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 organization. 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 their software solutions, visit http://lbaware.com.

LBA Ware, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced their sales incentive platform CompenSafe calculated $1 billion in lifetime origination commissions and operational bonuses in 2017. LBA Ware also experienced notable year-over-year growth, marked by a 152 percent increase in total compensation processed and a 130 percent increase in the number of lenders using LOS Talker, the company's systems integration solution.

Related link: http://lbaware.com/

US Mortgage Implements CompenSafe from LBA Ware to Automatically Calculate LO Compensation

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that Melville, New York-based US Mortgage Corporation (US Mortgage) has implemented CompenSafe to automatically calculate commissions for its loan originators and operations staff located in 24 branches across the United States.

"US Mortgage Corporation has quadrupled in size over the last five years, and as a result, our compensation plans and employment agreements have grown far more complex, creating a much larger burden of responsibility for our payroll managers," said Scott A. Milner, president of US Mortgage Corporation. "CompenSafe provides us with a scalable compensation calculation solution that has made our payroll department twice as efficient and provided a massive degree of transparency to our loan originators."

CompenSafe integrates directly with US Mortgage Corporation's loan origination system (LOS) Encompass to extract loan pipeline information and calculate compensation in real time. Loan originators can access this information at any time to get an up-to-date accounting of their anticipated compensation.

"One of our core values is, 'Empowering others,' and I think you can do that through information. Our LOs now feel more empowered and connected to the payroll process," Milner added. "From a use-case standpoint, our payroll team is now spending most of their time auditing payroll results, rather than creating them, which is a much more efficient use of their time."

"Compensation is one of the many growing pains lenders must grapple with as they become more successful, and many flourishing lenders find that their homegrown compensation solutions simply cannot keep pace with their expanding sales force," said Lori Brewer, founder and president of LBA Ware. "CompenSafe eases this burden by calculating compensation automatically, which makes overseeing compensation a much easier process for payroll teams, allows lenders to offer customized compensation plans to stay competitive and provides loan originators with transparency regarding commission."

About US Mortgage Corporation:

Founded by Steven A. Milner more than 2 decades ago, US Mortgage Corporation has been committed to "Helping You Make It Home(R)" as a nationwide mortgage lender, a HUD approved FHA Direct Endorsed Lender and a Fannie Mae Seller/Servicer. Since its inception in 1994, US Mortgage Corporation has funded more than $10 billion in mortgage loans, servicing more than 33,000 people.

US Mortgage Corporation focuses on educating first time home buyers, saving people money through refinances, giving people the opportunity for a better life through reverse mortgages, and above all education and transparency. US Mortgage Corporation maintains an A+ Rating with the Better Business Bureau (BBB) and a 5 Star Rating as a Mortgage Lender with Zillow. For more information, visit http://usmortgage.com.

About LBA Ware:

Founded in 2008 and headquartered in Macon, GA, LBA Ware(TM) is a software development company transforming the way mortgage lenders make the American dream of homeownership a reality. As the self-proclaimed masters of problem solving, our mission is to inspire opportunity by delivering solutions that become essential to the way mortgage companies operate. 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 their software solutions, visit http://lbaware.com.

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LBA Ware, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that Melville, New York-based US Mortgage Corporation (US Mortgage) has implemented CompenSafe to automatically calculate commissions for its loan originators and operations staff located in 24 branches across the United States.

Related link: http://lbaware.com/

LBA Ware Founder Lori Brewer Named to 2017 ‘Elite Women in Mortgage’ by Mortgage Professional America Magazine

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that Founder and President Lori Brewer has been honored as one of Mortgage Professional America (MPA) magazine's 2017 "Elite Women in Mortgage."

Brewer was recognized for her efforts to transform mortgage back-office operations through the development of integrated, automated solutions that eliminate repetitive, manual workflow, empowering lenders to maximize productivity and operational efficiency. LBA Ware's flagship product CompenSafe is the industry's first cloud-based software for automated loan originator (LO) commission and bonus compensation calculations, designed to help lenders manage multiple compensation plans while increasing efficiency, productivity and profitability.

"When I founded LBA Ware in 2008, my goal was to build technology that would solve the back-office operational challenges I was observing in the mortgage lending space, and calculating LO compensation was one of the first issues we decided to tackle," Brewer said. "Today, CompenSafe has calculated more than $1 billion in compensation, saving our clients untold amounts of time and money. I am beyond thrilled with what LBA Ware has accomplished, and to be recognized personally for my efforts makes our success that much more satisfying."

According to MPA, this year's "Elite Women in Mortgage" rankings recognize, "women who have overcome obstacles and broken barriers to become some of the industry's top professionals...record-breakers, innovators, mentors and trendsetters who inspire the success of their peers every day and are using their collective influence to change the face of America's mortgage industry."

To view the complete list of this year's winners, visit https://issuu.com/keymedia/docs/mpam_10.03_elite_women_lr.

About LBA Ware
Founded in 2008 and headquartered in Macon, Ga., LBA Ware(TM) is a software development company transforming the way mortgage lenders make the American dream of homeownership a reality. As the self-proclaimed masters of problem solving, our mission is to inspire opportunity by delivering solutions that become essential to the way mortgage companies operate.

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 their software solutions, visit http://lbaware.com.

LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced that Founder and President Lori Brewer has been honored as one of Mortgage Professional America (MPA) magazine's 2017 "Elite Women in Mortgage."

Related link: http://lbaware.com/