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
- Ellie Mae Encompass,
- OpenClose, Lending QB, and Calyx,
- 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.