MACON, Ga., Aug. 8, 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 origination 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 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).
“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.”