Awards and Honors, Business, Free News Articles

LBA Ware recognized as ‘Top Mortgage Employer’ by Mortgage Professional America

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced it has been recognized as a 2021 Top Mortgage Employer by Mortgage Professional America (MPA). Honorees were selected based on anonymous employee survey results that measured how their business performs on a variety of metrics, including culture, benefits and employee development.

Now in its third year, MPA's Top Mortgage Employer awards program recognizes mortgage industry employers that foster a world-class workplace. Winners were evaluated based on a combination of benefits offered and employee responses to anonymous workplace satisfaction surveys. Out of hundreds of companies surveyed, only those that achieved an average employee satisfaction rating of 80% or higher were recognized by MPA as a leading employer in the mortgage industry.

"We're proud to have a culture at LBA Ware that attracts creative and dependable talent," said LBA Ware Founder and CEO Lori Brewer. "We make every effort to provide a fulfilling work environment because our team is our greatest asset and the root of all our success."

LBA Ware's high evaluation by its team members can be attributed to forward-thinking leadership, generous benefits, flexible work arrangements, professional development initiatives and the company's commitment to philanthropy.

The complete list of 2021 MPA top mortgage employers can be viewed at https://www.mpamag.com/us.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2021 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

About Mortgage Professional America:

Mortgage Professional America (MPA) is the mortgage & finance industry's most trusted source of news, opinion and analysis. Created exclusively for the mortgage & finance industry, MPA provides a real-time web service that keeps time-poor mortgage & finance professionals up to date with the latest breaking news, cutting-edge opinion, and expert analysis affecting both their business, and their industry as a whole. For more information, visit https://www.mpamag.com/us.

RELATED LINKS:
https://www.lbaware.com/compensafe

Related link: https://go.lbaware.com/

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Business, Free News Articles, Software

LBA Ware welcomes mortgage compliance expert Lyndal McLaughlin to CompenSafe implementation team

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that mortgage industry expert Lyndal McLaughlin has joined its team as a software implementation consultant. In this role, McLaughlin will train and assist lenders as they implement LBA Ware's incentive compensation management (ICM) platform CompenSafe™ to its full capabilities, giving them unrivaled control over their variable compensation plans and processes.

McLaughlin has over 30 years experience in the mortgage industry, first launching her career as a receptionist at a mortgage lender. McLaughlin went on to gain experience in loan origination, processing, underwriting, closing and operations, making her an exceptionally well-rounded player in her field. Most recently McLaughlin served as a compliance product implementation manager for lending compliance risk software company QuestSoft.

"Lyndal possesses an impressive breadth of practical knowledge of the mortgage industry and enthusiasm for supporting clients as they roll out new software," said LBA Ware Founder and CEO Lori Brewer. "Her expertise makes Lyndal a valuable addition to the LBA Ware team. I know she will be an asset to our clients as they seek to maximize the benefits they receive from CompenSafe."

As a software implementation consultant McLaughlin will train LBA Ware clients to use CompenSafe to create more efficient compensation plan management processes, monitor those plans, centralize plan data and effectively communicate the calculation of commissions and bonuses to incentive-eligible employees, giving them full transparency into their pay.

"Given the extremely wide variety of compensation plans that mortgage companies oversee, managing payroll can be a real hassle," said McLaughlin. "That's why I'm thrilled to be working with LBA Ware, a company that offers clients a flexible, automated solution for managing incentive compensation."

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2021 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare #mortgagelending #mortgagetrends #mortgageindustry

Related link: https://go.lbaware.com/

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Business, Free News Articles, Software

LBA Ware’s LimeGear integrates with Experience.com to turn customer satisfaction scores into actionable business intelligence for mortgage lenders

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced it has partnered with Experience.com, home of the world's most impactful Experience Management Platform (XMP), to provide customers with a dynamic way to track customer satisfaction as a key performance indicator (KPI) in LBA Ware's LimeGear™ BI platform. The customer satisfaction KPI allows lenders to measure the customer experience as rated by borrowers, co-borrowers, real estate agents and other parties to a loan across the home financing journey and incorporate it into the performance evaluations of branch locations and individuals across the lending organization.

"With this integration, our customers will gain a more well-rounded view of their organization's performance through customer feedback," said LBA Ware Founder and CEO Lori Brewer. "It's not always easy to convert customer feedback into actionable data, but by working with Experience.com, LBA Ware has found a way to not only standardize the data, but also to allow lenders to customize which data points to track and when to track them. With more than 100 trackable KPIs available in LimeGear, lenders have the ability to gather a data-driven view across almost every part of their organization."

The customer satisfaction KPI resides within LimeGear's visually intuitive performance management dashboard. Because LBA Ware's partnership with Experience.com tracks customer feedback surveys by loan number, lenders can tie customer experience to performance scorecards for loan officers, processors, branch locations and more. As with LimeGear's other KPIs, lenders can assign a relative weight to the customer experience metric as part of an overall performance score. Role-based scorecards provide an at-a-glance view of how employees rank among their peers for volume, units and other configurable conditions.

"Nearly every lender deploys some kind of post-close survey to track customer satisfaction, but many lack a way to integrate the results into business intelligence," said Experience.com SVP of Partnerships Craig Pollack. "For lenders currently measuring the performance of loan officers and other team members purely on volume and profitability metrics, there is often a blind spot of including customer satisfaction as a trackable metric. This integration removes that blind spot and gives lenders a look at the bigger picture of performance as well as the ability to refine future customer satisfaction surveys as the picture comes into focus."

LBA Ware will be joined by Experience.com Vice President of Financial Services Kristin Messerli in LBA Ware's upcoming webinar, The Myths that Keep Millennials from Buying: Data-Driven Direction for Growing Your Share of America's Largest Homebuyer Market, which takes place October 6, from 1-2 pm ET. Registration is now open and required to attend.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

About Experience.com:

We believe that experience is everything. Amazing experiences create customers for life, and poor ones destroy brands and businesses. That's why Experience.com has built the most impactful Experience Management Platform (XMP) available anywhere, with features to drive operational and behavioral change, in real-time, during the moments that matter. XMP delivers impactful business outcomes including increased customer satisfaction, brand loyalty, online reputation and visibility, as well as improved employee engagement, and compliance - making every experience matter more. Founded in 2015 and originally founded as SocialSurvey, Experience.com is headquartered in San Ramon, Calif. and backed by SavantGrowth (fka Kennet Partners), Silicon Valley Data Capital, Tri-Valley Ventures, and Wilson Sonsini Goodrich & Rosati. For more information, visit https://www.experience.com or call +1 (888) 701 4512.

Twitter: @LBAWare @experience__com #mortgagedata #digitalmortgage #mortgagelending

Related link: https://go.lbaware.com/

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Business, Free News Articles, Webinars

LBA Ware to host Experience.com’s Kristin Messerli for webinar on the latest millennial homebuyer market research

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced the third installment in its 2021 webinar series. The Myths that Keep Millennials from Buying: Data-Driven Direction for Growing Your Share of America's Largest Homebuyer Market will feature special guest Kristin Messerli, a leading expert on NextGen (a.k.a. millennial) homebuyers. The free webinar will take place Wednesday, October 6, from 1-2 p.m. ET.

An expert on customer experience and emerging markets, Messerli is vice president of financial services for Experience.com and founder of market research firm Cultural Outreach, publisher of the annual NextGen Homebuyers Report. By sharing key insights from the highly anticipated 2021 report, Messerli hopes to give lenders a better understanding of how to work with NextGen buyers.

"The NextGen Homebuyer Report exists to help home professionals better understand and reach younger adults, and this year's report comes packed with fresh insights into the financial behavior and customer expectations of this generation," said Messerli. "Attendees will learn about prevalent homeownership myths, how millennials shop for and select lenders and what they expect from the homebuying experience."

The webinar will also demonstrate how lenders can put the NextGen data into action by establishing performance metrics that go beyond units and volume to encompass the millennial customer experience.

"Millennials have surpassed baby boomers as the nation's largest adult generation, yet they only account for a fraction of the average lender's pipeline," said LBA Ware Founder and CEO Lori Brewer. "This data-packed session will help lenders understand millennials' thought processes when it comes to home buying and how to adapt their business strategies accordingly."

Time is reserved for attendees to ask questions at the end of the webinar. Registration is now open and required to attend.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2021 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

Twitter: @LBAWare #mortgagelending #mortgagetrends #mortgageindustry

Related link: https://go.lbaware.com/

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Awards and Honors, Business, Free News Articles

LBA Ware makes the Inc. 5000 list of America’s fastest-growing companies for the third consecutive year

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced it has clinched a spot on the 2021 Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. This marks LBA Ware's third consecutive year on the list, coming in at number 2070.

Since 2008, LBA Ware has been helping mortgage companies reach new heights with software that uses lender data to incentivize performance and inspire results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations.

"We are thrilled to be included on the Inc. 5000 list for the third year," said LBA Ware Founder and CEO Lori Brewer. "LBA Ware's consistent momentum is testament to our passion to bring simplicity to lenders - from managing incentive compensation to extracting actionable, real-time business intelligence from production data."

"For decades, Inc. has welcomed the fastest-growing private companies in America, and this year's set of winners places the bar very high indeed," said Inc. editor-in-chief Scott Omelianuk. "Companies that made the list, on average, have grown sixfold since 2016. During a stretch when the economy grew just 15 percent, that's a result most businesses could only dream of."

The complete list of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at ​​https://www.inc.com/.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

About Inc. Media:

The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com. For more information on the Inc. 5000 Conference, visit http://conference.inc.com/.

Twitter: @LBAWare @Inc #Inc5000

Related link: https://go.lbaware.com/

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Awards and Honors, Business, Free News Articles

LBA Ware Founder and CEO Lori Brewer Designated a 2021 Powerful Women in Mortgage Banking by Mortgage Banker Magazine

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced company Founder and CEO Lori Brewer has been named to Mortgage Banker's 2021 list of Powerful Women in Mortgage Banking.

Brewer was recognized for developing award-winning software CompenSafe™ and LimeGear™, which are used by lenders of all sizes to maximize the human potential within their organizations. LBA Ware's flagship product CompenSafe is the only mortgage industry-specific ICM platform offering lenders the flexibility and scalability to automate incentive compensation plans for a full spectrum of staff, from loan originators to processors and underwriters. Introduced in 2020, LimeGear is a turnkey BI platform to make production- and efficiency-enhancing insights available to mortgage lenders that gets more out of their data and their people.

"My passion is reflected in LBA Ware's mission to help lenders of all sizes harness their operational data so they have the tools and insights they need to solve business challenges in any mortgage market," said LBA Ware Founder and CEO Lori Brewer. "It's an honor to be named among such an accomplished group of women in the industry."

In its inaugural year, the Powerful Women in Mortgage Banking award program is designed to highlight female pioneers, leaders and innovators making a difference in mortgage lending. To view the 27 honorees, visit https://nationalmortgageprofessional.com/magazine/mortgage-banker-magazine/how-find-generation-next/digital-edition.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare

Related link: https://go.lbaware.com/

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Business, Free News Articles, Reports and Studies

LBA Ware’s Q2 2021 Mortgage Loan Compensation Report shows decline in individual LO commission and volume

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry loan compensation in the second quarter of 2021. The firm's analysis of data from its CompenSafe™ ICM platform showed that despite a marginal increase in loan volume from Q2 2020 to Q2 2021, quarterly commissions per LO were down. Over the same period, loan processor workload and bonus compensation each decreased by about a quarter.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the second quarters of both 2020 and 2021. The controlled sample dataset consisted of retail, first-lien production from LOs and loan processors with at least six funded loans during the three-month period beginning March 31, 2021, and ending June 30, 2021.

Key Findings

* Commissions earned per loan originator (LO) in Q2 2021 decreased 6% from Q2 2020. During the same period, loan volume per LO dropped 4% on average.
* LOs averaged $0.9M in funded refinance volume per month, a decrease of more than 36% over Q2 2020 ($1.4M), and received an average of 91.679 basis points (BPS) per refinance loan, a significant decrease of 6.94% from the average of 98.517 BPS in Q2 2020.
* Purchase volume grew 49% year-over-year, with individual LOs averaging $1.52M in funded purchase loans per month (a 41% increase over the $1.08M funded per LO in Q2 2020) and receiving on average 107.649 BPS per purchase loan (versus 108.836 in Q2 2020).
* Overall, LOs saw a 1.76% decrease in per-loan commissions from 103.119 BPS in Q2 2020 to 101.308 BPS in Q2 2021. LOs in the sample dataset took home an average of $2,876 in commissions per loan, or roughly 35% of the $8,243 it costs to originate a retail loan according to 2020 data from the Mortgage Bankers Association*.
* Loan processor staffing grew significantly (49%) from Q2 2020 to Q2 2021. Loan processors handled 27% fewer loans per month in Q2 2021 (15.7 units) compared to Q2 2020 (21.7 units), fueling a corresponding 26% decrease in quarterly bonus compensation earned from $2,684 per processor per month in Q2 2020 to $1,999 in Q2 2021.

"LOs continue to benefit from a strong purchase market buoyed by low rates, flex work opportunities and millennials moving out of their parents' homes. If the macroeconomic environment stays strong for the second half of 2021, LOs could have another banner year," said LBA Ware Founder and CEO Lori Brewer. "Another notable observation is that lenders added processing manpower at almost ten times the rate they added LOs in Q2. It remains to be seen if that level of operational staffing will be sustainable over the long term."

*Source: Mortgage Bankers Association's Chart of the Week for July 23, 2021: https://www.mba.org/news-research-and-resources/research-and-economics

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare #mortgageindustry #mortgagetechnology #mortgagelending

Related link: https://go.lbaware.com/

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Advertising and Marketing, Awards and Honors, Business, Free News Articles

LBA Ware Director of Marketing Kelley Mangel Honored as 2021 HousingWire Marketing Leader

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced Director of Marketing Kelley Mangel has been named a recipient of HousingWire's inaugural 2021 Marketing Leader Award.

HousingWire's Marketing Leaders award program seeks to honor the most creative and influential marketing minds in the housing economy. Mangel oversees LBA Ware's branding and corporate identity initiatives, including the design and development of marketing collateral, client case studies, email campaigns and videos. Her contributions have resulted in a 37% increase in requests for product demos, a 71% increase in social media followers and a 140% increase in website page views year over year.

"LBA Ware's brand is an active representation of Kelley's meticulous eye for design and perfection," said LBA Ware Founder and CEO Lori Brewer. "She's been an essential LBA Ware team member since the beginning and could not be more deserving of this award."

"2021 was the perfect year to roll out the Marketing Leaders award program," says Caren Karris, director of marketing for HW Media. "The last year has thrown marketers, including myself, its fair share of curve balls and these 50 individuals embody what it takes to think strategically and move quickly to drive success for their brands and businesses."

To view the complete list of 2021 Marketing Leaders, visit https://www.housingwire.com.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 7.5 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit https://www.housingwire.com/ or https://www.solutions.housingwire.com/ to learn more.

Twitter: @LBAWare @HousingWire #MarketingLeaders

Related link: https://go.lbaware.com/

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Business, Free News Articles, Webinars

LBA Ware and Sales Boomerang showcase borrower and business intelligence strategies that help mortgage lenders win in a purchase market

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, announced a free webinar highlighting the data points mortgage lenders should focus on to propel business performance in a purchase market. Better Together: How To Keep Pipelines Full with Borrower and Business Intelligence will take place Thursday, June 24, from 2-3 p.m. ET.

LBA Ware's Chris Gassel will join Sales Boomerang CEO Alex Kutsishin and Homespire Mortgage CFO Bill Napier for an informative discussion of the data residential housing professionals can leverage to make more effective business decisions, from which staff to retain (and which to let go) to how to retain the orphaned deals that result from staffing down. The webinar includes a 15-minute Q&A session during which audience members can pose questions to the expert panelists.

"The average lender grew loan officer headcount by 32% from Q1 2020 to Q1 2021. As lenders prepare for a return to a purchase market, they'll want the right data at their fingertips to make tough decisions about staffing and how to retain orphaned customers," said Gassel. "This is going to be a can't-miss discussion full of best practices for using borrower and business intelligence to make decisions that improve bottom-line performance."

Attendees may submit questions for the panelists to answer at the time of registration. Registration is required. To register, click here - https://hubs.ly/H0Q4wC70.

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare #CompenSafe #mortgagetrends #LOcompensation

Related link: https://go.lbaware.com/

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Business, Free News Articles, Reports and Studies

LBA Ware’s Q1 2021 Mortgage Loan Compensation Report shows slight decrease in basis points paid

MACON, Ga. -- LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today released summary statistics on the state of mortgage industry loan compensation in the first quarter of 2021. The firm's analysis of data from its CompenSafe™ ICM platform showed that increases in year-over-year refinance and purchase loan volume contributed to higher overall commissions for loan originators (LO) and loan processors despite a slight decline in basis points (BPS) paid per loan.

Methodology

LBA Ware reviewed account data for mortgage lenders who used CompenSafe to automate incentive compensation throughout the first quarters of both 2020 and 2021. The controlled, sample dataset consisted of retail, first-lien production from LOs and loan processors with at least six funded loans during the three-month period beginning January 1, 2021, and ending March 31, 2021.

Key Findings:

* Commissions earned by LOs in Q1 2021 increased 52% from Q1 2020 because the average LO funded 55% more loan volume in Q1 2021 than in Q1 2020.

* LOs averaged $1.43M in funded refinance volume per month, an increase of more than 87% over Q1 2020 ($764k), and received an average of 96.332 BPS per refinance loan (versus 96.944 BPS in Q1 2020).

* Purchase volume grew 22% year-over-year, with LOs averaging $1.11M in funded purchase loans per month (versus $912k in Q1 2020) and receiving on average 109.091 BPS per purchase loan (versus 108.251 in Q1 2020).

* Although LO paychecks were larger in Q1 2021 than Q1 2020, the uptick in refinance production and slight downward pressure on BPS paid for refinance loans contributed to a 1.79% decrease in overall per-loan commissions from 103.564 BPS in Q1 2020 to 101.709 BPS in Q1 2021.

* Loan processors handled 29% more loans per month in Q1 2021 compared to Q1 2020, fueling a 51% increase in average incentive compensation earned from $1,451 per processor per month in Q1 2020 to $2,194 in Q1 2021.

* Loan teams grew significantly from Q1 2020 to Q1 2021, with the average lender increasing LO head count by 32% and processor head count by 58%.

* On average, 3.6 individuals were paid a form of loan compensation per loan unit in Q1 2021 (versus 3.2 individuals in Q1 2020).

"They say 'many hands make light work,' and in the first quarter of this year we definitely saw lenders sharing the workload," said LBA Ware Founder and CEO Lori Brewer. "Lenders employed 32% more originators and 58% more processors than this time last year and paid incentive compensation to an average of three to four individuals per loan. So far, volume remains brisk across purchase and refi, but as refi volume wanes it could prove difficult to sustain this level of staffing. This is a trend we will be monitoring closely in the coming months."

About LBA Ware™:

LBA Ware is a leading provider of cloud-based software for mortgage lenders. Since 2008, LBA Ware has been on a mission to help mortgage companies reach new heights with software that integrates data, incentivizes performance and inspires results. Today, more than 100 lenders of all sizes, including some of the nation's top producing mortgage companies, use LBA Ware's award-winning technology to enhance lender experiences and maximize the human potential within their organizations. A 2020 Inc. 5000 fastest-growing private company, LBA Ware is headquartered in Macon, Georgia. For more information, visit https://www.lbaware.com/.

Twitter: @LBAWare #mortgageindustry #mortgagetechnology #mortgagelending

Related link: https://go.lbaware.com/

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