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.
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
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