Tag Archives: incentive compensation management

LBA Ware’s Q2 2021 Mortgage Loan Compensation Report shows decline in individual LO commission and volume

MACON, Ga. /ScoopCloud/ -- 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 second quarter of 2021. The firm's analysis of data from its CompenSafe™ ICM platform showed that despite a marginal increase in loan volume from Q2 2020 to Q2 2021, quarterly commissions per LO were down. Over the same period, loan processor workload and bonus compensation each decreased by about a quarter.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the second 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 March 31, 2021, and ending June 30, 2021.

Key Findings

* Commissions earned per loan originator (LO) in Q2 2021 decreased 6% from Q2 2020. During the same period, loan volume per LO dropped 4% on average.
* LOs averaged $0.9M in funded refinance volume per month, a decrease of more than 36% over Q2 2020 ($1.4M), and received an average of 91.679 basis points (BPS) per refinance loan, a significant decrease of 6.94% from the average of 98.517 BPS in Q2 2020.
* Purchase volume grew 49% year-over-year, with individual LOs averaging $1.52M in funded purchase loans per month (a 41% increase over the $1.08M funded per LO in Q2 2020) and receiving on average 107.649 BPS per purchase loan (versus 108.836 in Q2 2020).
* Overall, LOs saw a 1.76% decrease in per-loan commissions from 103.119 BPS in Q2 2020 to 101.308 BPS in Q2 2021. LOs in the sample dataset took home an average of $2,876 in commissions per loan, or roughly 35% of the $8,243 it costs to originate a retail loan according to 2020 data from the Mortgage Bankers Association*.
* Loan processor staffing grew significantly (49%) from Q2 2020 to Q2 2021. Loan processors handled 27% fewer loans per month in Q2 2021 (15.7 units) compared to Q2 2020 (21.7 units), fueling a corresponding 26% decrease in quarterly bonus compensation earned from $2,684 per processor per month in Q2 2020 to $1,999 in Q2 2021.

"LOs continue to benefit from a strong purchase market buoyed by low rates, flex work opportunities and millennials moving out of their parents' homes. If the macroeconomic environment stays strong for the second half of 2021, LOs could have another banner year," said LBA Ware Founder and CEO Lori Brewer. "Another notable observation is that lenders added processing manpower at almost ten times the rate they added LOs in Q2. It remains to be seen if that level of operational staffing will be sustainable over the long term."

*Source: Mortgage Bankers Association's Chart of the Week for July 23, 2021: https://www.mba.org/news-research-and-resources/research-and-economics

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

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 second quarter of 2021. The firm's analysis of data from its CompenSafe™ ICM platform showed that despite a marginal increase in loan volume from Q2 2020 to Q2 2021, quarterly commissions per LO were down.

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

LBA Ware welcomes former State Bank vice president Georgia Capalbo to client success team

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 tapped former State Bank vice president Georgia Capalbo as client success product liaison. In her new role, Capalbo will assist lenders post-implementation to ensure they are leveraging CompenSafe™ to its fullest potential.

Capalbo possesses 11 years' administrative commercial banking experience, including nine years as a State Bank vice president until the company's 2018 merger with Cadence Bank. Beginning in special assets, Capalbo's role at State Bank expanded to support business intelligence, business analytics and third-party software management, where she served as a liaison between business lines and third-party software vendors to develop productivity and efficiency improvement solutions.

"Georgia's commercial mortgage banking knowledge makes her a powerful addition to the team," said LBA Ware CEO and Founder Lori Brewer. "Now on the inside looking out, Georgia possesses the lender empathy, product knowledge and technical skillset to help our clients flourish."

"I've always admired Lori and the LBA Ware team. She's made such an impact on the industry while growing an amazing company and taking care of her employees," said Capalbo. "I'm thrilled to be a part of such an innovative team and cannot wait to see what we accomplish."

Capalbo's hire and expansion of the client success team speak to LBA Ware's recent growth. In August 2020, LBA Ware onboarded its 100th CompenSafe client and was named an Inc. 5000 fastest-growing company for the second year in a row, climbing more than 1,000 spots over its 2019 ranking.

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 tapped former State Bank vice president Georgia Capalbo as client success product liaison.

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

LBA Ware’s Q1 2021 Mortgage Loan Compensation Report shows slight decrease in basis points paid

MACON, Ga. /ScoopCloud/ -- 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 first quarter of 2021. The firm's analysis of data from its CompenSafe™ ICM platform showed that increases in year-over-year refinance and purchase loan volume contributed to higher overall commissions for loan originators (LO) and loan processors despite a slight decline in basis points (BPS) paid per loan.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the first 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 January 1, 2021, and ending March 31, 2021.

Key Findings:

* Commissions earned by LOs in Q1 2021 increased 52% from Q1 2020 because the average LO funded 55% more loan volume in Q1 2021 than in Q1 2020.

* LOs averaged $1.43M in funded refinance volume per month, an increase of more than 87% over Q1 2020 ($764k), and received an average of 96.332 BPS per refinance loan (versus 96.944 BPS in Q1 2020).

* Purchase volume grew 22% year-over-year, with LOs averaging $1.11M in funded purchase loans per month (versus $912k in Q1 2020) and receiving on average 109.091 BPS per purchase loan (versus 108.251 in Q1 2020).

* Although LO paychecks were larger in Q1 2021 than Q1 2020, the uptick in refinance production and slight downward pressure on BPS paid for refinance loans contributed to a 1.79% decrease in overall per-loan commissions from 103.564 BPS in Q1 2020 to 101.709 BPS in Q1 2021.

* Loan processors handled 29% more loans per month in Q1 2021 compared to Q1 2020, fueling a 51% increase in average incentive compensation earned from $1,451 per processor per month in Q1 2020 to $2,194 in Q1 2021.

* Loan teams grew significantly from Q1 2020 to Q1 2021, with the average lender increasing LO head count by 32% and processor head count by 58%.

* On average, 3.6 individuals were paid a form of loan compensation per loan unit in Q1 2021 (versus 3.2 individuals in Q1 2020).

"They say 'many hands make light work,' and in the first quarter of this year we definitely saw lenders sharing the workload," said LBA Ware Founder and CEO Lori Brewer. "Lenders employed 32% more originators and 58% more processors than this time last year and paid incentive compensation to an average of three to four individuals per loan. So far, volume remains brisk across purchase and refi, but as refi volume wanes it could prove difficult to sustain this level of staffing. This is a trend we will be monitoring closely in the coming months."

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

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 first quarter of 2021.

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

LBA Ware to host capital markets expert Rob Chrisman for webinar on today’s mortgage M&A market

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 the second installment in its free, quarterly webinar series. Featuring capital markets expert Rob Chrisman, Deal or No Deal: Growth and Exit Strategies for Today's Mortgage Lender is designed to give lending executives and investors meaningful insight into today's mortgage M&A market. The webinar will take place Thursday, May 13, from 1-2 p.m. ET.

Rob Chrisman's daily market commentary is among the mortgage industry's most widely read publications. A three-decade veteran of the mortgage banking industry, Chrisman will join LBA Ware Founder and CEO Lori Brewer for a live fireside chat that will examine recent industry deals and highlight the most important factors for investors, buyers and sellers to consider in today's market.

Topics will include:

* Deal-making 101: Various deal types and strategic motivators of investors, buyers, and sellers

* Rob's insider take on today's biggest M&A and IPO headlines

* Why cultural compatibility is crucial to the success (or failure) of a deal

* The importance of understanding and reconciling compensation strategies pre-merger

* What to look for under the hood when evaluating business operations during due diligence

"As the pandemic recedes, M&A interest and IPO activity are heating up. We are honored to host Rob Chrisman, one of the most respected names in mortgage banking, for an insider's perspective on growth and exit strategies for today's mortgage lender - including the most important items to evaluate when looking 'under the hood' of an M&A prospect," said LBA Ware Founder and CEO Lori Brewer.

Attendees may submit questions for Rob Chrisman to answer at the time of registration. Registration is required. To register, click here.

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

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced the second installment in its free, quarterly webinar series.

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/

AmCap Home Loans Selects LimeGear by LBA Ware to Fuel Productivity with Turnkey Business Intelligence (BI)

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 AmCap Home Loans (AmCap) has implemented LBA Ware's LimeGear™ BI platform across its 143 branch locations. AmCap also uses LBA Ware's ICM platform CompenSafe™ to manage incentive pay for its 600 loan originators.

AmCap is a Houston-based independent mortgage bank that produced $4.4 billion in loan volume in 2020. As a licensed lender in 43 U.S. states, AmCap adopted LimeGear to empower employees to better utilize its production data and make data-driven decisions in near real-time.

"As a mortgage lender, we generate so much data that even several talented analysts can't derive actionable intelligence in a timely manner by manually combing through and restructuring it. With LimeGear's dashboard, I get meaningful insights in ten minutes that would normally take several days of sifting through Excel spreadsheets," said AmCap Chief Analytics Officer Matt Stokes. "LBA Ware has done their research. They're mortgage people, they know what key performance indicators and insights we need to accomplish our business goals, and they've built it all for us in LimeGear."

LimeGear promotes mortgage lender productivity and efficiency with turnkey mortgage business intelligence. Visually intuitive dashboards quickly give lenders a high-level overview of critical insights with the ability to drill down into key performance indicators (KPIs) such as funded volume, fall-out rate, turn time and loan revenue. Stokes identified LimeGear's machine learning model, Propensity to Fund, which predicts the likelihood of a loan application to fund within 90 days as his most heavily relied-on feature. The volume-forecasting capability of Propensity to Fund enables lenders to more efficiently manage warehouse lines of credit.

"In today's high-volume environment lenders need timely insights that enable them to measure performance, zero in on profitability and maximize productivity," said LBA Ware Founder and CEO Lori Brewer. "LimeGear delivers these insights with turnkey dashboards and reports, no developer required."

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 AmCap Home Loans:

At AmCap, we believe in raising the standard of mortgage lending. Since 2007, we've experienced steady and continuous growth, which we attribute to our innovative, modern business practices and one simple philosophy - making good loans to good borrowers.

In order to continue our legacy as a fiscally strong company dedicated to doing right by our employees and our customers, we're constantly seeking new tools, new products and new opportunities to advance the interests of the loan officers and homebuyers with whom we work. With our flexible approach to lending and aggressive pursuit of improvement, AmCap is creating a better home buying experience every day.

Twitter: @LBAWare #LimeGear #BI

LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that AmCap Home Loans (AmCap) has implemented LBA Ware's LimeGear™ BI platform across its 143 branch locations. AmCap also uses LBA Ware's ICM platform CompenSafe™ to manage incentive pay for its 600 loan originators.

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

LBA Ware Joins ACUMA, Brings New Tools for Optimizing Mortgage Team Performance and Compensation to Credit Unions

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, has joined the American Credit Union Mortgage Association (ACUMA) as an affiliate member. Through the membership, LBA Ware aims to strengthen credit unions' competitiveness and performance by equipping them with solutions that simplify the mortgage compensation process and help teams use their data to drive new levels of performance.

Tried and tested by more than 100 lenders of all sizes, including GreenState Credit Union and Cyprus Credit Union, LBA Ware's CompenSafe(TM) automates variable compensation plans, giving lenders efficiency and control that spreadsheets simply can't provide. By bridging the gap between payroll and loan origination systems, CompenSafe eliminates errors associated with manual data entry and updates originators of the status of their compensation in near real-time.

LimeGear, LBA Ware's turnkey BI platform, helps lenders increase productivity and efficiency with out-of-the-box dashboards and team-, employee- and loan-level data insights. Credit unions can use LimeGear to efficiently track the progress of loans through the pipeline without ever logging into their loan origination system (LOS).

"Credit unions play a vital role in expanding credit and mortgage access and providing trusted financial guidance to their communities. Joining ACUMA as an affiliate member enables us to help more CUs streamline their mortgage operations and improve team performance, which in turn frees them to focus on prioritizing members' needs," said Lori Brewer, founder and CEO of LBA Ware.

ACUMA is an organization of and for credit unions that brings together shared real estate lending and financing interests. ACUMA member organizations include federal- and state- chartered credit unions and Credit Union Service Organizations (CUSOs), mortgage insurance companies, secondary market investors and investment banking firms and mortgage technology firms.

"Our organization is a powerful resource that creates opportunities for credit union professionals and their primary suppliers to network, share knowledge, build relationships and grow market share," said Tracy J. Ashfield, ACUMA President. "ACUMA members live up to the CU motto of 'people helping people' by being generous and transparent in sharing their roads to their success with fellow members. We extend a warm welcome to LBA Ware and celebrate their recent membership."

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/.

About ACUMA:

The American Credit Union Mortgage Association provides resources and education to credit unions aimed at streamlining performance, processes and procedures for real estate lending services. ACUMA's goal is to encourage credit unions to help more consumers get fairly priced and safe mortgage loans delivered locally, and in so doing, providing them with a pathway to the American dream of home ownership.

Twitter: @LBAWare @ACUMACommunity #mortgageindustry #mortgagetechnology #mortgagelending #ACUMA

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, has joined the American Credit Union Mortgage Association (ACUMA) as an affiliate member.

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

LBA Ware Unveils Expanded Functionality to CompenSafe’s ‘Verify Pay’ Feature

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 it has updated CompenSafe's(TM) Verify Pay feature, which enables loan originators (LOs) and other commissioned or bonus-based employees to review and verify their incentive compensation before paychecks are cut, greatly reducing the hassle, time and cost of remediating incentive compensation disputes.

"Verify Pay strengthens trust by engaging employees in a transparent compensation process," said LBA Ware Founder and CEO Lori Brewer. "It greatly reduces costly and time-consuming processes associated with compensation errors, such as cutting manual checks, and it creates a detailed audit trail, which is especially important in states like California where compensation disputes can snowball into a PR nightmare."

Verify Pay engages employees in the compensation process by giving them the opportunity to review, ask questions, comment on, and verify their incentive compensation before paychecks are distributed. Employees who wish to submit a commission dispute may do so in a matter of seconds, and their dispute - along with a link to the disputed loan file - is automatically forwarded to the payroll administrator for rapid review. The entire dispute/resolution thread is logged, providing lenders with a detailed, time-stamped audit trail.

"Mortgage lenders value CompenSafe because it is much more than a compensation calculation engine - it's a comprehensive incentive compensation management tool," added Brewer. "We constantly listen to clients and respond with creative features that address the practical challenges associated with administering commissions."

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, 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

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, announced it has updated CompenSafe's Verify Pay feature, which enables loan originators (LOs) and other commissioned or bonus-based employees to review and verify their incentive compensation before paychecks are cut, greatly reducing the hassle, time and cost of remediating incentive compensation disputes.

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 Issues Q3 2020 Mortgage Loan Originator Compensation Report, Enhances Analysis with Addition of Loan Processor Compensation Data

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 third quarter of 2020. The firm's analysis of data from its CompenSafe(TM) ICM platform shows that year-over-year increases in refinance and purchase loan volume contributed to increased commissions for both loan originators (LOs) and loan processors.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the third quarter of 2020. 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, 2020, and ending September 30, 2020.

Key Findings

* Commissions earned by LOs in Q3 2020 increased 50% from Q3 2019, because the average LO funded 51% more volume in Q3 2020 ($2.6M per month) versus Q3 2019 ($1.7M per month).

* Refinance transactions accounted for 46% of total volume funded in the quarter (versus only 36% of total volume funded in Q3 2019). LOs averaged $1.2M in funded refinance volume per month, an increase of more than 75% over Q3 2019.

* Although paychecks were larger in Q3 2020 than Q3 2019, the uptick in refinance production contributed to a 0.9% decrease in per-loan commissions from 107 basis points in Q3 2019 to 106 basis points in Q3 2020. Refinance commissions averaged 100 basis points in Q3 2020 compared to 111 basis points paid out for purchase loans.

* Purchase volume grew year-over-year with LOs averaging $1.45M in funded purchase loans per month ($1.11M in Q3 2019) and receiving on average 110.8 basis points per purchase loan (109.8 in Q3 2019).

* Loan processors handled 30% more loans per month in Q3 2020 compared to Q3 2019, fueling a 54% increase in average incentive compensation earned from $5,105 in Q3 2019 to $7,855 per processor in Q3 2020.

"Increased loan volume continues to deliver big paydays for loan originators as well as for loan processors, many of whom earn per-loan unit bonuses," said LBA Ware Founder and CEO Lori Brewer. "The refi boom won't continue indefinitely, though, and we're already seeing some softening in refi volume even as consumer appetite for purchase loans sharpened in Q3."

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 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

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 third quarter of 2020.

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

LBA Ware Recruits Fintech Data Expert Matt Semrad to Build Predictive Analytics for LimeGear BI Platform

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, has hired veteran fintech executive and data analytics expert Matt Semrad to enhance its BI platform LimeGear with predictive loan production analytics and machine learning.

In partnership with LBA Ware, Semrad is developing predictive models and machine learning algorithms that can be used to forecast loan volume and predict which of a loan originator's applications are likely to convert to closed loans. The loan volume forecasting model will help lenders with weekly and monthly capacity planning and warehouse line management. The propensity-to-close model will enable mortgage lenders to take proactive measures to maximize staff efficiency and close more loans.

"When it comes to building predictive algorithms, data quality is everything," said Semrad. "Because LBA Ware has comprehensive, high-fidelity data sets and understands the needs of the industry, we can develop predictive models and forecasts that are laser-focused on creating value for mortgage lenders."

"As a data analytics expert and veteran fintech executive, Matt has the perspective and skill to develop powerful predictors of mortgage business performance," said LBA Ware Founder and CEO Lori Brewer. "I look forward to working with Matt to deliver uniquely valuable intelligence that helps our clients run their businesses optimally."

Prior to partnering with LBA Ware, Semrad spent more than a decade as COO, CIO and SVP of Equifax's (NYSE:EFX) Workforce Solutions and Enabling Technologies divisions. Previously, he served as COO of Appro Systems, a provider of loan origination software, where he doubled company revenue and led the company's $92 million acquisition by Equifax.

Semrad also served as vice president at multinational conglomerate Hitachi (OTCMKTS: HTHIY) and as senior vice president at global information technology service and consulting company Atos (OTCMKTS: AEXAY). Semrad holds a master's degree in mechanical engineering and is currently pursuing a master's degree in analytics at the Georgia Institute of Technology.

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 #mortgageindustry #mortgagetechnology #mortgagedata #BI #fintech

*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, has hired veteran fintech executive and data analytics expert Matt Semrad to enhance its BI platform LimeGear with predictive loan production analytics and machine learning.

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

LBA Ware Taps Data and Analytics Product Expert Brian Jordan as Director of Product Management

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, has tapped financial data and analytics industry expert Brian Jordan as director of product management. Jordan was hired to enhance and expand LimeGear, LBA Ware's recently launched turnkey business intelligence (BI) platform.

Jordan possesses 13 years' product experience at global data aggregation and analytics firms serving the banking and financial services sectors. Immediately before joining LBA Ware, Jordan was a lead product manager at LexisNexis Risk Solutions, where he worked to provide strategic technical services for Quod, a pioneering credit bureau formed by Brazil's top-five banks focused on risk management and fraud prevention, intended to serve as a model for financial institutions of the future. Previously, Jordan held positions at Global Data Company (now Trulioo), a Vancouver-based global identity verification provider, and Zoot, a global provider of advanced loan origination, acquisition and decision-management solutions for financial institutions.

"Brian has extensive, industry-specific experience in data and analytics and a successful track record leading the development of complex and innovative fintech products," said LBA Ware Founder and CEO Lori Brewer. "He brings a valuable skill set to LBA Ware that will drive client-focused growth to our LimeGear business intelligence platform."

"Throughout my career, I've witnessed how quality business intelligence helps organizations achieve tremendous results," said Jordan. "LBA Ware's industry expertise combined with its passion for enhancing lender performance is unparalleled. I look forward to helping the team expand LimeGear to transform the performance of its mortgage lending clients."

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.

*PHOTO link for media: https://www.Send2Press.com/300dpi/20-0708s2p-brian-jordan-300dpi.jpg

Twitter: @LBAWare #PeopleMovers #mortgageindustry #newhires

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, has tapped financial data and analytics industry expert Brian Jordan as director of product management. Jordan was hired to enhance and expand LimeGear, LBA Ware's recently launched turnkey business intelligence (BI) platform.

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

Centier Bank Slashes Man-Hours Spent Calculating Incentive Compensation by 99% with LBA Ware’s CompenSafe

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today announced that Centier Bank (Centier), Indiana's largest private, family-owned bank, has implemented CompenSafe(TM) to automate incentive compensation for its residential lending department.

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. Bryan Traylor, SVP of Residential Lending for Centier, learned from several peer banks that CompenSafe had enabled them to manage incentive compensation with greater efficiency and accuracy.

The bank fully deployed CompenSafe across its 90-person residential lending team in February. "With CompenSafe, the process is click a button and get your compensation calculated," Traylor said, noting that CompenSafe has eliminated human errors related to manual calculation of the bank's tiered compensation structure.

"As a 125-year-old, family-owned bank, we are deeply rooted in the communities we serve - but that doesn't mean we're old-fashioned," added Traylor. "With CompenSafe, we are able to calculate incentive compensation with perfect accuracy in five minutes - a task that used to take two people a combined 16 hours per month. That efficiency allows our people to spend more of their time serving customers with the personal touch that is our hallmark."

"We are proud to have earned a reputation for helping community banks keep internal resources focused on serving customers, not crunching numbers," said LBA Ware Founder and CEO Lori Brewer. "No matter the number or complexity of compensation arrangements, CompenSafe makes incentive compensation effortless and error-free."

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/.

About Centier Bank:

Centier Bank is Indiana's largest private, family-owned bank, with 62 branches statewide and over 900 employees. The bank has retail banking locations in Allen, Boone, Elkhart, Hamilton, Lake, La Porte, Marion, Marshall, Porter, St. Joseph and Tippecanoe Counties in Indiana. The bank was recently named the #1 Bank in Indiana by Forbes Magazine. Centier has been named a "Best Bank to Work For" in Indiana by American Banker and has achieved Hall of Fame among the Indiana Chamber of Commerce's "Best Places to Work For."

LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today announced that Centier Bank (Centier), Indiana's largest private, family-owned bank, has implemented CompenSafe to automate incentive compensation for its residential lending department.

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/

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 Launches CompenSafe University to Help Lenders Achieve Their Compensation Plan Management Objectives

MACON, Ga. /ScoopCloud/ -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today announced the launch of CompenSafe University (CSU), a two-day training program designed to help lenders derive additional value from their investment in CompenSafe™.

CompenSafe is the mortgage industry's go-to platform for automated incentive compensation management. With the introduction of CSU, LBA Ware extends its core CompenSafe training with a specialized curriculum that puts compensation plans into perspective for managers and executive decision-makers:

* Day one covers the essentials of CompenSafe configuration and administration. After learning how CompenSafe integrates with their own operating environment, attendees master key features such as creating branch and originator accounts, setting up compensation agreements and automating compensation plans. Attendees gain an understanding of how non-administrators can use CompenSafe to review their production and verify pay.

* Day two addresses advanced CompenSafe administration topics such as compensation rules for terminated employees, manual adjustments, recoverable and non-recoverable draws and minimum guarantees.

Those who complete both days of the CSU curriculum may elect to become CompenSafe Certified by passing a multiple-choice examination.

"CSU creates CompenSafe power users and prepares them to become subject matter experts within their organizations," explained LBA Ware Director of Client Success Mari Denton. "The goal of the course is to help participants move beyond the automation of existing plans. The exploration of different options within the platform will equip participants to offer strategic solutions and make informed business recommendations regarding 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, 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 announced the launch of CompenSafe University (CSU), a two-day training program designed to help lenders derive additional value from their investment in CompenSafe.

Related link: https://lbaware.com/

Finance of America Mortgage LLC Transforms Incentive Compensation Process, Gains Insight, Flexibility and Efficiency with LBA Ware’s CompenSafe

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading incentive compensation management (ICM) and business intelligence (BI) software solutions provider for the mortgage industry, today announced that Finance of America Mortgage LLC (FAM) has upgraded its incentive compensation process with CompenSafe(TM). With CompenSafe's near real-time loan origination system data integration, FAM is automating incentive compensation for its more than 1,500 loan originators (LOs) and other bonus-based employees.

A result of the acquisition of Gateway Funding and having acquired certain assets of other major lenders, including Skyline Home Loans and Pinnacle Mortgage, FAM is currently the tenth largest mortgage lender by volume, with branches in all 50 U.S. states. The mortgage lending heavyweight engaged LBA Ware to deploy CompenSafe because the flexible platform could replace its existing homegrown compensation solutions, which it inherited from the conglomerate's several major acquisitions.

"The implementation of CompenSafe has brought a new level of openness to compensation for LOs, branch managers and regional managers alike," said FAM Chief Financial Officer Michael Lord. "LOs enjoy the ability to view their compensation as soon as loans are funded, branch managers love the pipeline management features and corporate has found CompenSafe's timestamped tracking of compensation plan changes to be an immensely helpful compliance tool."

"By automating processes and providing visibility into commissions, revenues, and pipeline data in one place, mortgage lenders like FAM are equipped to scale and maintain best-in-class experiences for its employees and borrowers alike," said LBA Ware Founder and CEO Lori Brewer. "What's more, because compensation is so intimately tied to performance, CompenSafe maintains its relevance to LOs, management, compliance, and corporate teams."

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.

About Finance of America Mortgage LLC:

FAM is a diversified national lender dedicated to providing best in class financial solutions to improve the financial well-being of its customers. FAM is part of the Finance of America family of companies, which serves borrowers through trusted brands including Finance of America Mortgage LLC, Finance of America Reverse LLC and Finance of America Commercial LLC. The Finance of America family of companies employs more than 4,000 professionals in more than 350 offices across the country. For more information, please follow us on LinkedIn.

LBA Ware(TM), a leading incentive compensation management (ICM) and business intelligence (BI) software solutions provider for the mortgage industry, today announced that Finance of America Mortgage LLC (FAM) has upgraded its incentive compensation process with CompenSafe(TM).

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/