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.
One of the fastest growing mortgage banks in the U.S. adopts LBA Ware solution to streamline compensation calculation
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
Related link: http://lbaware.com/
This version of news story was published on and is Copr. © Publishers Newswire™ (PublishersNewswire.com) - part of the Neotrope® News Network, USA - all rights reserved. Information is believed accurate but is not guaranteed. For questions about the above news, contact the company/org/person noted in the text and NOT this website.