American Financial Network is now using CompenSafe, LBA Ware’s automated incentive compensation and sales performance management platform, to provide real-time reporting of loan originator compensation.
American Financial Network (AFN) is a mortgage lender with more than 125 branches nationwide.
Before implementing CompenSafe, AFN’s staff accountant manually calculated and tracked commissions using a spreadsheet.
LOs did not see their commissions until they received their semi-monthly payroll checks.
Now, CompenSafe provides LOs and their managers with real-time commission information as soon as loans are funded, LBA Ware says in a release.
By automating the compensation process, AFN has reduced its accountants’ administrative workload, enabling AFN to move from semi-monthly to weekly payment of LO commissions without any increase in payroll staff.