Incentive Compensation for More than $100 Billion in Funded Loan Volume Has Now Been Processed by LBA Ware’s CompenSafe
(MACON, Ga.) — NEWS: 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
Related link: https://go.lbaware.com/
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