MACON, Ga., Nov. 12, 2019 (SEND2PRESS NEWSWIRE) — LBA Ware™, 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™. 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™:
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.
Twitter: @LBAWare @FoAMortgage #CompenSafe
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News Source: LBA Ware