MACON, Ga., Nov. 12, 2019 (SEND2PRESS NEWSWIRE) — LBA Ware™, a leading incentive compensation management (ICM) and business intelligence (BI) software solutions provider for the mortgage industry, today announced that Finance of America Mortgage LLC (FAM) has upgraded its incentive compensation process with CompenSafe™. With CompenSafe’s near real-time loan origination system data integration, FAM is automating incentive compensation for its more than 1,500 loan originators (LOs) and other bonus-based employees.
A result of the acquisition of Gateway Funding and having acquired certain assets of other major lenders, including Skyline Home Loans and Pinnacle Mortgage, FAM is currently the tenth largest mortgage lender by volume, with branches in all 50 U.S. states. The mortgage lending heavyweight engaged LBA Ware to deploy CompenSafe because the flexible platform could replace its existing homegrown compensation solutions, which it inherited from the conglomerate’s several major acquisitions.
“The implementation of CompenSafe has brought a new level of openness to compensation for LOs, branch managers and regional managers alike,” said FAM Chief Financial Officer Michael Lord. “LOs enjoy the ability to view their compensation as soon as loans are funded, branch managers love the pipeline management features and corporate has found CompenSafe’s timestamped tracking of compensation plan changes to be an immensely helpful compliance tool.”