in Blog, CompenSafe by Kelley Mangel

How to process mortgage lender compensation in 5 painless STEPS

Loan Originator Commissions

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, processing loan officer compensation and commission-based employee payroll each pay period is PAINFUL.
Fortunately, there are a lot of ways CompenSafe helps ease the pain of managing mortgage compensation. In fact, once compensation plans are added to CompenSafe once, your payroll process is scaled down to 5 easy steps. That’s each payroll period. Think about all the hours you’ll save! Here’s how:
  1. Review employee loan compensation verifications.
  2. Lockdown payroll transactions to avoid any changes for the current pay period.
  3. Push-the-button to have pending recoverable draw balances automatically netted from commissions.
  4. Export payroll in the correct format for your payroll transaction company.
  5. Upload the file to your payroll transaction company and rejoice!

Start Automating Today

See for yourself why mortgage companies choose to use CompenSafe to automate their payroll. Schedule a live demo today.

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