MACON, Ga., Aug. 7, 2019 – LBA Ware™, provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, closed the second quarter of 2019 having completed $3,622,659,995 in lifetime calculations of originator commissions, management overrides, and operational bonuses through its CompenSafe™ sales incentive platform.
2Q19 was an explosive quarter for new loan production overall, according to estimates published by Inside Mortgage Finance, and CompenSafe considerably outpaced overall industry growth, processing a daily on average of $1.7 billion in new application volume and over $1.1 billion in funded loan volume (a 64.35% increase and 40.2% increase from 2Q18, respectively) daily.
“CompenSafe has been gaining momentum with banks, credit unions and independent mortgage lenders eager to shed the inefficiency and headaches of manual incentive calculation and leverage their compensation data to make more incisive business decisions,” said LBA Ware Founder and CEO Lori Brewer. “The last quarter saw much-needed industry gains in loan production, and we are proud to have responded to the increased system demands of industry growth with continued service excellence.”
About LBA Ware:
Founded in 2008, LBA Ware’s mission is to inspire opportunity by delivering solutions that are essential to the way mortgage companies operate. We are a trusted partner and play a key role in our clients’ success by enabling them to motivate, incentivize and better leverage the human potential within their organizations. Our applications automate traditionally manual business processes for which an existing software solution does not exist, empowering lenders to create an integrated software environment that maximizes their productivity and operational efficiency. For more information about LBA Ware and our software solutions, visit https://lbaware.com.