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Movement Mortgage implements LBA Ware technology to streamline compensation calculation

Wednesday, February 7, 2018   (0 Comments)
Posted by: Péralte Paul
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[caption id="attachment_23586" align="alignleft" width="246"]Lori Brewer photo Lori Brewer is founder and CEO of LBA Ware, a Macon, Ga.-based startup in the financial technology space.[/caption]

 

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

Macon, Ga.-based LBA Ware, is a financial technology startup in the Advanced Technology Development Center's ATDC Signature portfolio of companies. Its mission is to provide mortgage lenders and bankers with software that optimizes their business processes.

Movement Mortgage is a national top 10 retail mortgage lender.

“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.” 

Implementing CompenSafe has resulted in loan officers' being able to better project their anticipated compensation each month, and has reduced the amount of time and effort required to produce accurate financials, Movement Mortgage said.

CompenSafe is one of 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 to reduce errors and streamline 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, LBA Ware's CEO. “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 provides the peace of mind of transparent and accurate commissions calculation.”



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