In Part I of this series we discussed how it’s become more expensive to originate a loan, and the disconnect between both individual loan manufacturing processes and the systems intended to automate them isn’t helping.

Part II is all about the solution.

The most effective way for lenders to combat rising costs is to increase productivity while driving down operational expenses. Of course, that seems easier said than done, but it’s not impossible.

Consider this. The original cost to map the human genome (i.e. DNA) was $2.7 billion, and it took nearly 15 years to complete the process. Today, the cost is roughly $1,000, and the process can be completed in just over a day. One of the biggest drivers in this dramatic reduction is advancement in technology. Quite simply, better tools make for better, faster processing.

Of course, this concept isn’t new to the mortgage industry. There are a wide variety of tools available to today’s mortgage lender, but technology alone won’t produce the outcome. The key to succeed is having a business strategy in place, then implementing the right technology that helps you to achieve your objectives.

With a keen understanding of what you’re trying to achieve, technology will then enable you to create a cohesive environment that delivers efficiency throughout the process.

Take compensation, for instance. It is one of the largest expenses lenders incur and for many, a process that is largely managed manually using spreadsheets. Not only does this make the process more expensive to manage, but it also inhibits executives from gaining a “big picture” perspective of their largest expense.

With the goal of automating the process and providing transparency to key players, you can leverage an intelligent application that easily transforms compensation from a cost center to a competitive differentiator and growth driver.

CompenSafe is that solution.

By seamlessly connecting to your loan origination system (LOS), CompenSafe uses near real-time loan pipeline data to automatically calculate compensation for LOs and other production staff that are paid on commission or eligible for performance-based bonuses. What’s more, the system also includes shared expenses and automatic draws in its calculations so that you are able to easily track and recoup expenses each pay period.

For lending executives, CompenSafe delivers comprehensive reporting on a branch and individual level, providing strategic insights on productivity and sales expenses. With this data, executives can align staff incentives with growth metrics to drive both operational efficiency and enhanced profitability.

Check out this free case study to learn more about how CompenSafe’s reporting can enhance your visibility into branch performance and profitability. When you’re ready to pull the trigger, give us a call at 478-200-3021 or drop us a line at