in Blog, Infographic, LBA News by Kelley Mangel

Key Take Aways from LBA Ware’s 2016 Data Report

Our first annual data report takes a close look at loan volume and compensation trends driving today’s mortgage industry. Here are a few of the key take aways we pulled from 2016.

443% Year-Over-Year Increase in Total Loan Volume

  • $56,099,278,891 in total loan volume processed on CompenSafe for 2016; up from $10,326,678,286 in 2015.
  • 247,845 loans closed in 2016; up from 49,933 in 2015.

Encompass Holds Strong as Top Loan Origination System

  1. Ellie Mae Encompass,
  2. Byte,
  3. OpenClose, Lending QB, and Calyx,
  4. PC Lender and D+H MortgageBot
*per LBA Ware clients

45.94 Average Days Application to Close

Purchase Volume Dominates Loan Purpose Mix

Over $31 Million Recovered for Payroll Draw Advances

  • $410.4 million in payroll transactions calculated in 2016.
  • Over 8,000 unique compensation plans used to calculate commission and bonus compensation.
  • More than $31.5 million draws recovered.
  • On average, 3.1 different employees paid compensation per loan closed.

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