Key Benefits
Your commissions: automated, integrated, uncomplicated
Requiring multiple employees to manage commissions using multiple spreadsheets, formulas and calculations ... it’s a cumbersome and inefficient process, at best. At worst, it’s a minefield of risk, with human error, compliance missteps and overpayments all-too-real possibilities.
Manual commission processes, no matter how established or thorough, are tough to optimize in order to meet the demands that mortgage lenders face in today’s hyper-competitive, hyper-regulated marketplace. Instead, lenders need a solution built specifically to calculate payments accurately and efficiently, while helping them to eliminate the hidden costs of commission management.
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The simple solution for complex plans - We'll work with you to customize CommissionSpot™ for your business so you can tailor programs to automatically calculate payment splits, adjustments, volume multipliers, and more. Draws and expense repayments can also be tracked, so you can reliably recoup due expenses.
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Recruiting and retaining top talent - CommissionSpot™ is fully transparent, providing your originators with online pipelines so they can see what, when and why they'll get paid—an easy way to show current and potential employees that your business means business when it comes to treating staff right.
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Documented LO compensation compliance - CommissionSpot™ helps enforce your individual compliance policies, including for minimum loan originator compensation and overtime eligibility and automatically documents them for your regulators.
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Flexible for the future - CommissionSpot™ allows you to preview potential compensation changes and analyze them against past data so you know exactly how a certain change could impact your bottom line.
The Bottom-Line Difference
Spreadsheets |
CommissionSpot™ |
|
| Data / calculations | Extracted or re-keyed from multiple sources | Integrated—taken directly from your Loan Origination System |
| Compliance policies | Self-enforced | Automated—automatically enforced and documented for regulator audit |
| Adjustments & draws | Tracked separately | Included—fully configurable and automatically applied to the correct commission cycle |
| Payment splits | Manually calculated | Configured—can be integrated into a certain plan, configured to automatically repeat, or be designated as a one-off |
| Resource demands | Additional staff, overhead expenses | Reduced—reduced workforce and time requirements that may allow you to better allocate resources |
| Transparency | None | Transparent—via online pipeline and dashboard views |
Manage Commissions With Confidence
Take control of your commissions
CommissionSpot™ is a robust commission management solution that integrates tightly with your Loan Origination System. It automates the calculation, reconciliation and communication of variable pay across your organization. With CommissionSpot™, you'll process payments with efficiency and confidence thanks to automatic calculations and built-in review and approval work flows that alert you to potential issues before the check gets cut.
- Automate the commissions process and distribute payments accurately and efficiently
- Minimize the risk of miscalculating and overpaying
- Automatically enforce and document your compliance policies
- Correct potential errors before checks are distributed
- Easily keep your sales team informed about what, when, and why they'll get paid
- Preview how changes to your commissions will affect your bottom line
- Reduce overhead expenses related to commissions administration