MACON, Ga., Jul 23, 2019 (SEND2PRESS NEWSWIRE) -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, has partnered with CMG Financial to streamline incentive compensation for the lender's more than 500 loan originators (LOs) and other commission- and bonus-based employees.
"As our retail business volume grew, it was important to find a technology to automate compensation calculations for commissions, bonuses and overrides," said CMG Financial Vice President of Human Resources Melissa Harbourne. "The implementation of CompenSafe has not only alleviated the strain of manual calculations, allowing us to strategically reallocate resources, but also opened a window of real-time visibility into compensation and bonus earnings. Providing that visibility not only to our retail employees, but also to our cross-functional departments such as our compensation team, HR business partners and payroll staff allows these support functions to resolve compensation disputes from the business unit in a timely and efficient manner."
Branch and senior managers at CMG Financial have also begun leveraging CompenSafe's reporting capabilities to improve pipeline management and monitor expenses. Built-in reports make it easy for managers to compare current production to historical trends, and they now know exactly how much the company is paying out in commissions and bonuses at the individual loan level.
"A critical aspect of developing and retaining LO talent is building trust, transparency and accountability into the fabric of daily operations," said LBA Ware Founder and CEO Lori Brewer. "CompenSafe helps CMG Financial deliver on its commitment to these values and delivers efficiencies and business insights that scale with the company's growth."
About CMG Financial
CMG Financial is a well-capitalized, privately held mortgage-banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels, including Retail Lending, Wholesale Lending and Correspondent Lending.
CMG Financial currently operates in all states, including the District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA and FHLMC. Throughout the mortgage banking and housing markets, CMG Financial is widely known for responsible lending practices, industry and consumer advocacy, product innovation and operational efficiency. More information: https://www.cmgfi.com/.
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.
Twitter: @LBAWare @CMGFI #mortgagebanking #digitalmortgage #CompenSafe
News Source: LBA Ware
Related link: https://lbaware.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/cmg-financial-accelerates-loan-originator-compensation-and-delivers-loan-level-insights-to-management-with-lba-wares-compensafe/