Latest CompenSafe Updates, Newest Features & Bug Fixes.
LBA Ware published updates to CompenSafe SaaS over the weekend. This month features new enhancements, dashboard screens, updates, and bug fixes to better optimize your lending performance and compensation.
Loan Types Administration
Map your LOS’ mortgage loan product to the CompenSafe loan type directly in CompenSafe.
As CompenSafe loads all new mortgage products from the LOS, it will automatically assign the specified loan type. If CompenSafe cannot find a matching loan type, it will assign it as “other.” Your administrator will then be able to map it to the correct loan type.
This is especially helpful for companies that are paying wholesale account executives different commission rates based on the loan type.
Admin > Main Menu > Loan Administration > Set Product Loan Type
To prevent any confusion, we now identify bonus or commission override allocations as overrule allocations.
An overrule allocation adds a new compensation schedule BPS or dollar mount, replacing any previously assigned compensation schedule BS or dollar amount.
New Functionality for Schedules and Allocations
Schedule and allocation rules now have a default start date. Start dates will default to the first day of the current pay period.
>> You no longer need to contact LBA Ware when you want to backdate start dates.
>> Changing the start date will not impact historical payments. If a change is made on a loan that was already paid out, causing previous pay to be altered, LBA Ware will receive an audit email that a manual payment adjustment is required.
>> If the loan is still in a tier period (second half of the month), the system will automatically apply the change per the new schedule.