Despite the Consumer Financial Protection Bureau’s 2014 changes to loan originator compensation requirements under the Truth in Lending Act, there is still tremendous flexibility in how lenders can legally compensate their LOs. LBA Ware founder and president, Lori Brewer provides powerful thought leadership in this recent article published by MBA Insights.
The connection between compensation & profitability is far more complex than it seems on the surface. Without the appropriate metrics in place or a window into branch operations, using compensation data to assess profitability is all but impossible. See how Envoy Mortgage has effectively managed complexity with ease.
Industry veteran brings 20+ years of experience to the mortgage industry’s leading provider of automated compensation & system integration solutions.
Technology transforms. It optimizes. It improves. It is the future of the mortgage industry. And it’s what motivates me every day.
Grow Where You’re Planted Macon Startup Week is here! As a former start-up ourselves – and Startup Week participant – this is a celebration that is near and dear to us. It provides us an opportunity to reflect on our origins, which, as one would expect, are closely tied to those of our founder, Lori Brewer. Upon the conclusion of their military service, Lori and her husband were faced with the decision of where to Read More
LBA Ware Receives 2017 Best of Macon Award Macon Award Program Honors the Mortgage Technology Company MACON, Ga., April 5, 2017 — LBA Ware™, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced it has been selected for the 2017 Best of Macon Award in the Software Company category by the Macon Award Program. Each year, the Macon Award Program identifies companies that it believes have Read More
Bridging the Mortgage Compensation Chasm There are two parts to the compensation equation; one is how compensation is determined based on production tracked in your loan origination system (LOS), and two, how compensation is dispensed for payroll. Unfortunately, in most lending organizations, there really isn’t a bridge between the two. We like to say that CompenSafe sits between your LOS and payroll system, automating and handling all the intricacies of compensation calculations, draw recovery, reporting, Read More
LBA Ware Adds Matthew Marshall as Solutions Consultant Company expands sales team to support growth of its mortgage lending and retail banking solutions MACON, Ga., March 1, 2017 — LBA Ware™, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced it has hired Matthew Marshall as a solutions consultant to support the firm’s sales efforts. In this role, Marshall will be responsible for articulating the value Read More
LBA Ware Named to 2017 HW TECH100™ For the third year in a row, HousingWire has recognized our suite of cloud-based solutions on the HW TECH100™ list. And here’s why: all-in-one suite of solutions which cover the entire loan lifecycle and provides an accessible and centralized system of record for lenders. CompenSafe extracts all loan level data from the client’s core database – typically their LOS. Since 2008, the 100% woman-owned technology firm has bootstrapped Read More
View more LBA Ware Included on 2017 HW TECH100 Company recognized for third consecutive year for its ability to deliver a centralized system of record for mortgage lenders using cloud-based technology MACON, Ga., March 1, 2017 — LBA Ware™, a leading provider of automated compensation software and system integration solutions, announced that it has been named to the 2017 HW TECH100™ list published by housing industry trade magazine HousingWire. This is the third consecutive year Read More
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 View more $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. Read More
Managing Multiple Borrowers and Applications for One Loan in Your CRM If your CRM system can track only two borrowers on a loan record, should you include the borrower from application #2? When two borrowers on a loan do not have a joint credit profile, the mortgage loan will require two separate applications. This may happen because the two borrowers don’t share a joint bank account, don’t live together, or for instance, when parents co-sign Read More
Determining a Loan’s Commission Payable Trigger How do you know when a mortgage loan is eligible for commissions and bonuses to be paid? In CompenSafe, we refer to this as the Completed Date. This is the point in time when milestones have been achieved or a specific date has been entered into the LOS to signify that the loan has been disbursed, closed, and/or funded. Typically, companies use the funded milestone as the completed date Read More
Conquer Complexity of Paying Commissions to Terminated Loan Originators As with any sales profession, the amount of commission paid is based on actual sales. What happens though if the employee who captured the lead is no longer employed by the time the sale hits the books? Does that terminated employee still earn commission for that sale? If so, is it the same amount it would be if the employee was still at the company? Here Read More
NMLS Call Report Data Trends in Mortgage Volume and Licenses The National Mortgage Licensing System (NMLS) site contains interesting U.S. mortgage loan-related data that is shared with the public. Like the Federal Financial Institutions Examination Council (FFIEC) Home Mortgage Disclosure Act (HMDA) site, you can download data regarding loans and institutions in flat files to dissect and graph. In 2011, state-licensed mortgage companies began submitting a quarterly call report of mortgage activity through the NMLS Read More
2016 in Review & a Look at What’s Ahead In the early morning hours of November 9th, Trump was declared the next US President. I stayed up until 3AM watching the US map turn red and flipping between the major news channels. It was a defining moment for America and will most definitely effect the mortgage lending landscape for the next 4 years. It remains to be seen if a Republican-dominated government will lessen the Read More
Celebrating a Year of Success with Trophies, Bonfires and S’mores It’s hard to believe we’re in the final weeks of 2016. It’s as if the year came and went at the blink of an eye. And to think TRID has been ingrained in our mortgage lending lives for over a year now and we’re all still alive, well…is a miracle. All jokes aside, the past 365 days have been one for the record books here Read More
Using Performance Based Incentives for Processors, LO Assistants, Closers, Shippers & More Does performance-based pay increase work performance? Will per file bonuses for processors and other back office staff contribute to a decrease in the time from mortgage application to closing? Can this ultimately help increase branch revenue? These are important questions for mortgage companies. And, we’ve been noticing they are at the forefront of many C-suite discussions. For such an intensive workflow process that Read More
We’re Hiring! Lending & Banking Automation Software (LBA Ware) is seeking a lively, enthusiastic, and proactive executive assistant to join our growing team. The right candidate must have excellent interpersonal skills – friendly, flexible, conscientious, practical and reliable; able to understand and absorb information quickly; be highly organized, have good written and oral communication skills with the ability to relay information precisely. Interested? Click to learn more . Head on over to our job opportunities Read More
Conquer Complexity of Managing Your Mortgage Lenders Incentive Compensation Plans A successful branch manager understands the power of effectively motivating employees and there’s no better way to do this than through incentive compensation plans. So, how come this isn’t a standard practice across the mortgage industry? Most likely because managing incentive compensation structures on spreadsheets is a daunting process. Historically, implementing incentive compensation in mortgage lending meant juggling a multitude of variable-based, complex sales structures Read More
Conquer Complexity of Mortgage Lending by using Metrics that Matter Your LOS contains a lot of information about your business; after all, it’s your system of record for every loan application that goes through your institution. Yet, when managing operations and sales production is spreadsheet driven, it makes taking a data-driven, proactive approach extremely difficult. The entire method of collecting, transforming, processing, and interpreting the data is highly manual and time consuming that people usually Read More
Conquer Complexity of Preparing for CFPB Audits with Automated Compensation With the record retention requirements imposed by the CFPB’s LO Compensation Rule, there’s no such thing as having too much documentation. When preparing for a CFPB audit, it’s imperative to have back up documentation that supports and justifies every dollar of compensation paid to loan originators. Not only does the CFPB want to know the factors influencing compensation and how the compensation was calculated, but Read More
Conquer Complexity of Mortgage Lending with Compensation Overrides Compensation overrides are at the forefront of what makes a job in loan production management so appealing; it is compensation received in whole or part based on the production of those you manage. Appealing, that is, to high-producing managers; horrifying to payroll departments. Until now. CompenSafe simplifies the grueling process of calculating manager compensation with Override Schedules. Override Schedules in CompenSafe let you create custom calculation scenarios Read More
It’s an exciting time for the mortgage industry. Exciting in more ways than one. There’s the obvious reason being that the light at the end of the tunnel is a lot brighter and more attainable than it was as few as five years ago; there’s a whole new generation entering the market, which is great for both supply – job candidates – and demand – buyers; and, there’s more resources than ever before being put Read More
CompenSafe Update – September 15, 2016 View more New Knowledge Base Articles We’ve added two new help articles to the CompenSafe knowledge Base. How do I schedule a recurring bonus that gets automatically paid to an employee each pay period?: This FAQ explains the type of transactions that can be set up once as Auto Draws. CompenSafe Compensation Plans Overview: This article goes over the recommended best practices for using Schedules, Allocations and Overrides to Read More
The Technology Association of Georgia (TAG), one of the nation’s largest state trade organizations dedicated to technology and innovation, recently recognized Lori Brewer, President & Lead Software Engineer of Lending & Banking Automation Software (LBA Ware™) as a Diversity Game Changer in Technology in the latest issue of Hub Magazine.
CompenSafe Update – August 8, 2016 NEW! Reports The latest CompenSafe update comes with several new reports for managing compensation plans and payroll transactions. Override Pay Transactions Report This new payroll report lists all overrides paid out to employees per payroll period. The report includes the override schedule used to calculate the override, loan number the override is tied to, loan amount, amount paid, timing of the payment, and who’s volume the override was generated Read More
CompenSafe Update – July 12, 2016 NEW! Payroll and Balance Summary This new screen lets you view a snapshot of your net pay and unpaid draw balance for each pay period. To view this new page, from the Payroll menu, click My Pay. To view the Payroll Commission and Bonus Summary report that was previously linked from My Pay on the Payroll menu, From the Report menu, click All. From the Report Directory, click Read More
How to process mortgage lender compensation in 5 painless STEPS Tired of having to go dark for days on end each payroll period? With CompenSafe, your mortgage lending payroll process only takes 5 steps to complete. Managing compensation plans and the complex calculations involved are major pain points in today’s mortgage lending industry. Between the manual calculations using error-prone spreadsheets, to all the disconnected systems that don’t integrate with each other and lack real-time information, Read More
LBA Ware Announces Partnership with The Mortgage Collaborative Automated compensation among many benefits independent mortgage cooperative members will receive FOR IMMEDIATE RELEASE MACON, GA – May 11, 2016 – Lending & Banking Automation Software™, also known as LBA Ware, the leading provider of compensation automation software for mortgage lenders, today announced a new preferred partnership with independent mortgage lending cooperative, The Mortgage Collaborative. As a Preferred Partner, LBA Ware will provide The Mortgage Collaborative’s growing Read More
How to Automate Loan Officer Compensation in 5 Easy Steps [Infographic] There’s no denying it – commission and incentive pay plans are complex and complicated. With all the “if this, then that” scenarios that come into play, it’s like peeling back the layers of an onion; each layer making you want to cry more and more. Fortunately, there are a lot of ways CompenSafe helps ease the pain of managing mortgage compensation. Take for instance, Read More
CompenSafe Update – April 18, 2016 NEW! Auto Draw Create recurring draw transactions for automatic draws (debits to employees) and guaranteed minimums (credits to employees). Included in this new CompenSafe payroll feature is the ability to: Automate non-recoverable draws, Automate recoverable draws & set recapture date, & Assign to all employees including loan originators, assistants, professors, sales managers, branch managers, underwriters, and more. To create a new Auto Draw, From the CompenSafe menu, click Payroll. From Read More
Learn about Keri Bunting’s motivations and goals as she embarks on an adventure of a lifetime to raise money for refugees in Thailand.
Exciting Changes Coming to CompenSafe JUST ADDED – Paylocity 2016 Export File From the CompenSafe menu, click Payroll. From the Corporate Administration of Commission Compensations page under Corporate Payroll, click Export Payroll category. From the Payroll Export dialog box Export Format drop down list, select Paylocity 2016. Select date from Pay Date drop down list. Click Continue. COMING SOON NEW COMPENSAFE MENU A new and improved menu is coming to CompenSafe. The new menu is Read More
Download PDF: HousingWire Recognizes LBA Ware as One of the Most Innovative Technology Companies in Housing MACON, GA – March 24, 2016 – Lending & Banking Automation Software™ (LBA Ware) proudly announces HousingWire has recognized the company as a leader in mortgage technology by naming them to the 2016 HW TECH100™. “The companies in the HW TECH100™ are providing innovative solutions to the traditionally hide-bound mortgage finance industry,” said HousingWire Editor-in-Chief Jacob Gaffney. “In the Read More
CompenSafe Update – March 2016 NEW! Pipeline by Estimated Closing Date New filter allows you to view your loan pipeline by the estimated closing date. Apply this filter to view loans with an estimated closing date in This Month, Next Month, or All. This Mo: Filters pipeline to show only loans with an estimated closing (Est Close) date in the current calendar month. Loans in UW or CLSG (loan status) with Est Close set to Read More
Extra! Extra! Read all about it! LBA Ware has Lender Case Study Featured in Hub Magazine View more Our own Kelley Martins has her article, “Lender Achieves Operational Efficiency with LBA Ware’s Automation & Integration Technology,” featured in the latest issue of Hub Magazine. The article, which starts on page 26, profiles a national mortgage company’s success with LBA Ware’s CompenSafe to reduce their manual processes and dependencies on spreadsheets. Providing a look into the Read More
Download PDF: LBA Ware Article Featured in Hub Magazine Technology Association of Georgia (TAG) publication releases latest issue focused on FinTech. ATLANTA (February 10, 2016) – The Technology Association of Georgia (TAG), one of the nation’s largest state trade organizations dedicated to technology and innovation, recently recognized Kelley Martins, marketing manager at LBA Ware, for her article contribution to the latest issue of Hub Magazine. The article, entitled “Lender Achieves Operational Efficiency with LBA Ware’s Read More
CompenSafe Update – February 2016 IMPORTANT! Negative Net Pay Saved as Draw for Recapture Any negative net pay on the CompenSafe payroll transaction file will now be saved as a draw record to be recaptured on a future pay date. CompenSafe will take 1 of 3 actions for handling negative net pay: If due to a preexisting draw balance, CompenSafe will automatically move the amount back to the draw. Otherwise, If result of manual adjustments, Read More
Download PDF: Trusted Mortgage Technology Vendor Receives National Certification as Women’s Business Enterprise Macon, GA – Feb. 5, 2016 – L Brewer and Associates, d.b.a LBA Ware a leader in lending and banking automation software specializing in commission automation and system integration software for the mortgage industry, received national certification as a Women’s Business Enterprise by the Greater Women’s Business Council, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC). WBENC’s national Read More
5 Reasons Incentive Compensation Plans + Automated Systems = Increased Growth As the year of TRID comes to an end, the focus is now shifting towards driving profitability through increased productivity and operational efficiency. The foundation of success for this lies in frequently monitoring and measuring performance and having the ability to make seamless adjustments when necessary. Incentive compensation plans (ICP) are a practical way to monitor origination performance by aligning compensation structures next to Read More
CompenSafe Update – December 2015 NEW! Reports Commission Schedule Details: Export friendly overview report of all active commission schedules, including tier level information. To access the Commission Schedule Details report, From the CompenSafe menu, click Reports. From the Report Directory page, click Administration category. Click Schedule Details. Override Details: Export friendly overview report of all active overrides, including tier level information. To access the Override Details report, From the CompenSafe menu, click Reports. From the Read More
Download PDF: OpenClose and LBA Ware Integrate to Automate the Loan Compensation Process MACON, Ga. and WEST PALM BEACH, Fla. – Dec. 1, 2015 – OpenClose® an enterprise-class, multi-channel, end-to-end loan origination system (LOS) provider, and Lending & Banking Automation Software (LBA Ware), the leading provider of commission automation software, have formed a partnership to seamlessly pass loan information from OpenClose’s LenderAssist™ LOS into LBA Ware’s CompenSafe application to automate the entire commission process. CompenSafe Read More
One-on-One with Lori Brewer, owner of LBA Ware The Telegraph recently stopped by our office for a one-on-one interview with our founder and lead software engineer, Lori Brewer. The article talks about Lori’s start as a webmaster for the United States Air Force, her transition into the mortgage industry in the 1990’s, and what she likes most about being an entrepreneur. You can read the full article here on The Telegraph website. Software allows us Read More
2015 Business & Industry Awards Finalist Wow! What an honor to be named finalist for the 2015 Business and Industry Awards. Thank you Greater Macon Chamber of Commerce and Macon Economic Development Commission for recognizing our young company and considering us for such a prestigious honor. Congratulations to this year’s the three winners. Next year, Small Business of the Year is ours!
CompenSafe Update – November 2015 NEW! Bulk Load Upload Draws: Upload CSV file to process multiple recoverable draw or guaranteed minimum pay transactions to CompenSafe at one time. To upload multiple draw transactions for payroll processing, From the CompenSafe menu under Admin, click Main Menu. From the Corporate Administration page, click Bulk Load. Click Upload Draws. From the Bulk Load to Process Draw Transactions page, click Download Template to download a template CSV file. Otherwise, Read More
Protect Your Small Business Join us at TAG Middle Georgia’s upcoming lunch & learn workshop: Cyber Security – Protecting Your Business View more Upgrade Your Cyber Security The Technology Association of Georgia (TAG) Middle Georgia chapter and Macon Chamber of Commerce present a lunch & learn event on how you can better protect your small business from cyber threats. With small businesses becoming a larger target for criminals, this special event featuring Arnold Harden from Read More
Our First Experience as an Exhibitor The 2015 MBA Annual Convention & Expo During my first attempt writing this blog post, it was just after 6am and I was watching many familiar faces pass by me as they took their seat on our flight back to Atlanta. I was laughing to myself as it appeared fellow passengers and I were in quite a similar situation – barely awake thanks to the dreaded 4am wake up Read More
Countdown to MBA Annual 2015 The countdown has begun! Not only will we be attending the 102nd Mortgage Bankers Association Annual Convention and Expo this year, we are also exhibiting. Our team has put in a lot of extra hours to make sure we provide attendees with a fun and informative experience on ways to conquer complexity and achieve mortgage lending efficiency through automation and integration. So make sure you come by booth 1003 to Read More
9/28/15 CompenSafe Update: What’s new and improved for CompenSafe automated mortgage lending compensation calculation and LO dashboard software.
September 2015 Update: CompenSafe Automated Commission & LO Dashboard CompenSafe received its monthly software update over the weekend. This update includes new search functionality, additional override schedule features, loan pipeline management tools, and payroll options to help you better optimize managing your mortgage lending practices. Continue reading to learn all about this month’s update. Override Schedule Features: Exclude by Loan Purpose: This new calculation filter allows you to exclude loans from override compensation and from Read More
It’s Time to Celebrate! Ribbon Cutting Ceremony: LBA Ware Headquarters 355 Cotton Ave Macon, GA 31201 Wednesday, September 16, 2015 at 11am All of us at LBA Ware are SO excited for our new company headquarters in downtown Macon that we figured it would only be right to start this new venture off with a BANG! With the support of our friends over at Main Street Macon, we will be marking the official opening of Read More
Ribbon Cutting Ceremony to Celebrate Software Company’s Move to Downtown Macon Macon, GA, September 11, 2015 – On Wednesday, September 16, 2015, software company Lending & Banking Automation Software (LBA Ware) will celebrate their growth with a ribbon cutting ceremony at the company’s new office located at 355 Cotton Ave, Macon GA, 31201. The ribbon cutting will kick off at 11am, followed by light refreshments from other Downtown eateries and tours of the new office Read More
FinTech Company Contributes to Local Economic Development Lending & Banking Automation Software to celebrate big move with ribbon cutting ceremony Macon, GA, September 9, 2015 – Financial services technology provider, LBA Ware, known for its automated loan officer compensation calculation software and system integration solutions, announced it will hold a ribbon cutting ceremony to celebrate success, growth, community, and local support. The event will take place at the company’s new office in downtown Macon located Read More