{"id":65055,"date":"2020-10-29T06:55:40","date_gmt":"2020-10-29T10:55:40","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=65055"},"modified":"2020-10-28T18:46:13","modified_gmt":"2020-10-28T22:46:13","slug":"lba-ware-issues-q3-2020-mortgage-loan-originator-compensation-report-enhances-analysis-with-addition-of-loan-processor-compensation-data","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/lba-ware-issues-q3-2020-mortgage-loan-originator-compensation-report-enhances-analysis-with-addition-of-loan-processor-compensation-data\/","title":{"rendered":"LBA Ware Issues Q3 2020 Mortgage Loan Originator Compensation Report, Enhances Analysis with Addition of Loan Processor Compensation Data"},"content":{"rendered":"<p>MACON, Ga., Oct. 29, 2020 (SEND2PRESS NEWSWIRE) &#8212; LBA Ware&#x2122;, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in the third quarter of 2020. The firm\u2019s analysis of data from its <a href=\"https:\/\/bit.ly\/34CWP8g\">CompenSafe<\/a>&#x2122; ICM platform shows that year-over-year increases in refinance and purchase loan volume contributed to increased commissions for both loan originators (LOs) and loan processors.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.send2press.com\/wire\/images\/20-1029-lba-ware-q3chart-696x522.jpg\" alt=\"LBA WARE - Q3 Avg Monthly Loan Volume\" width=\"696\" height=\"522\" class=\"alignnone size-full wp-image-65010\" srcset=\"https:\/\/www.send2press.com\/wire\/images\/20-1029-lba-ware-q3chart-696x522.jpg 696w, https:\/\/www.send2press.com\/wire\/images\/20-1029-lba-ware-q3chart-696x522-300x225.jpg 300w\" sizes=\"auto, (max-width: 696px) 100vw, 696px\" \/><em><\/em><\/p>\n<p><strong>Methodology<\/strong><\/p>\n<p>LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the third quarter of 2020. The controlled, sample dataset consisted of retail, first-lien production from LOs and loan processors with at least six funded loans during the three-month period beginning July 1, 2020, and ending September 30, 2020.<\/p>\n<p><strong>Key Findings<\/strong><\/p>\n<ul>\n<li>Commissions earned by LOs in Q3 2020 increased 50% from Q3 2019, because the average LO funded 51% more volume in Q3 2020 ($2.6M per month) versus Q3 2019 ($1.7M per month).<\/li>\n<li>Refinance transactions accounted for 46% of total volume funded in the quarter (versus only 36% of total volume funded in Q3 2019). LOs averaged $1.2M in funded refinance volume per month, an increase of more than 75% over Q3 2019.<\/li>\n<li>Although paychecks were larger in Q3 2020 than Q3 2019, the uptick in refinance production contributed to a 0.9% decrease in per-loan commissions from 107 basis points in Q3 2019 to 106 basis points in Q3 2020. Refinance commissions averaged 100 basis points in Q3 2020 compared to 111 basis points paid out for purchase loans.<\/li>\n<li>Purchase volume grew year-over-year with LOs averaging $1.45M in funded purchase loans per month ($1.11M in Q3 2019) and receiving on average 110.8 basis points per purchase loan (109.8 in Q3 2019).<\/li>\n<li>Loan processors handled 30% more loans per month in Q3 2020 compared to Q3 2019, fueling a 54% increase in average incentive compensation earned from $5,105 in Q3 2019 to $7,855 per processor in Q3 2020.<\/li>\n<\/ul>\n<p>\u201cIncreased loan volume continues to deliver big paydays for loan originators as well as for loan processors, many of whom earn per-loan unit bonuses,\u201d said LBA Ware Founder and CEO Lori Brewer. \u201cThe refi boom won\u2019t continue indefinitely, though, and we\u2019re already seeing some softening in refi volume even as consumer appetite for purchase loans sharpened in Q3.\u201d<\/p>\n<p><strong>About LBA Ware&#x2122;:<\/strong><\/p>\n<p>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, more than 100 lenders of all sizes, including some of the nation\u2019s top producing mortgage companies, use LBA Ware\u2019s 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\u00a0<a href=\"https:\/\/www.lbaware.com\/\">https:\/\/www.lbaware.com\/<\/a>.<\/p>\n<p>Twitter: @LBAWare #CompenSafe #mortgagetrends #LOcompensation<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MACON, Ga., Oct. 29, 2020 (SEND2PRESS NEWSWIRE) &#8212; LBA Ware, a leading provider of incentive compensation management (ICM) and business intelligence software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry compensation in the third quarter of 2020.<\/p>\n","protected":false},"author":6980,"featured_media":65010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,12804,1,38,123,12380,264],"tags":[205,11708,14588,12663],"class_list":["post-65055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-ap","category-business-news","category-finance-news","category-georgia-news","category-macon-business","category-research-reports-news","tag-depthpr","tag-incentive-compensation-management","tag-mortgage-loan-originator-compensation","tag-mortgage-trends","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3553,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/65055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/6980"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=65055"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/65055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/65010"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=65055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=65055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=65055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}