In case you missed it from Rob Chrisman’s newsletter
earlier this week, there’s a great deal of insight to be gained by comparing LO compensation against operating expenses and overall volume. In fact, as our founder and president Lori Brewer said, “There’s more to LO compensation than just a paycheck. Because of the close ties between origination volume and branch performance, LO comp data can provide key insights into profitability at the branch level…if you can get to it. With many lenders still managing compensation via spreadsheets, this data could exist across a handful of areas within the organization, creating walls where there should be windows and inhibiting visibility into individual branch performance.”
Having successfully deployed CompenSafe to automatically calculate commissions and bonus compensation for all its retail branches, Houston-based Envoy Mortgage decided to leverage CompenSafe as a comprehensive branch management tool. The result? Unparalleled access to branch performance metrics that has empowered Envoy’s branch managers and regional vice presidents to assess profitability and take corrective action at a branch level.