MACON, Ga., Oct. 23, 2019 – LBA Ware™, a leading provider of incentive compensation management (ICM) and business intelligence (BI) software solutions for the mortgage industry, today announced that Guaranteed Rate Companies has improved internal processes and enhanced the loan originator (LO) experience with the implementation of CompenSafe™. One of the largest retail mortgage lenders in the United States, Guaranteed Rate has deployed CompenSafe nationwide to improve its automated compensation process for nearly 1,500 LOs and other bonus-eligible employees.
According to Ken Kane, Chief Accounting Officer for Guaranteed Rate, the switch from manual, spreadsheet-based incentive calculation to an automated solution tailor-made for the mortgage industry has enabled Guaranteed Rate Companies to scale more efficiently. It’s also freed the lender’s accounting staff to spend less time preparing compensation statements and more time on compensation review, which helps the company reduce risk and provide a better experience for LOs.
“Since Guaranteed Rate is a sales-driven company, our leadership team seeks out the most innovative tools to enable efficiency so our loan originators can focus on their customers,” said Kane. “We consistently strive to provide the best overall experience, which includes a quality compensation product. CompenSafe delivers process improvements that empower our support staff to work smarter, not harder.”
“Lenders of all sizes — from community banks and independent mortgage lenders to companies like Guaranteed Rate that are leading the industry in loan production — need technologies that allow employees to focus on the tasks that add the most value,” said LBA Ware Founder and CEO Lori Brewer. “CompenSafe delivers immediate gains in operational efficiency while simultaneously improving the compensation experience for any lender’s most important asset: its loan teams.”