One way to combat the high cost of loan originator turnover and improve the longevity of your top performers is to build a data-driven strategy that dives into what’s causing the churn. Here’s a 6-step approach to help you get started
LBA Ware™, provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that FirstBank Mortgage has optimized the execution of its incentive compensation with CompenSafe™. By replacing spreadsheets with CompenSafe, FirstBank Mortgage has reduced the time it takes to calculate loan compensation by 75%.
How high is loan originator turnover — and what’s behind it? LO turnover is both common and costly. Managing it effectively is essential to an organization’s success. In part 1 of a 2-part blog series, we reveal the true cost LO turnover has on your business.
PRESS RELEASE: A renowned technologist & expert on loan originator compensation & productivity, LBA Ware Founder & CEO Lori Brewer was recognized by the Mortgage Bankers Association for transforming the way mortgage lenders manage their incentive compensation strategies.
A new partnership between LBA Ware and SimpleNexus provides mutual clients’ loans originators with real-time push notifications when their loan commission has been been calculated.
LBA Ware’s annual mortgage lending year in review blog post and infographic covers benchmarks, trends, accomplishments, and fun facts from the past year.
It doesn’t matter if you provide better experiences; some borrowers only see the difference in the numbers. When concessions need to be made, does your team have accurate numbers to make informed decisions? This blog post explains how you can tighten up your rate and fee concession process with accurate compensation numbers.
The competition for top loan originator talent is fiercer than ever, and often compensation is a lender’s best bargaining chip. This blog post explains the differences between retroactive and non-retroactive comp plans to help lenders who are considering turning to retroactive comp plans as a sustainable way to stand out from the crowd in the talent race.
Georgia-based and FDIC-insured United Community Bank started using LBA Ware’s CompenSafe to efficiently and compliantly automate commissions for its 80 loan originators and loan processors.
With margins as tight as they are in the current market, lenders must leave no stone unturned when it comes to managing costs. To solve this conundrum, we provide suggestions lenders can adopt to help shape a shared marketing expense strategy.