What is CompenSafe?
CompenSafe is a cloud-based incentive compensation software that eliminates the need to manage payroll on spreadsheets and streamlines manual compensation processes. The software integrates with existing LOS to automatically calculate and allocate comp as soon as loans close and fund. It provides flexibility to be creative, insight to help drive profitability, and transparency that empowers employees. CompenSafe organizes emails and spreadsheets into a streamlined system that accurately calculates loan comp. Users are also offered reporting tools that can provide robust insights on production, compensation, draws, revenue, audits, and performance.
CompenSafe is a software that eliminates the need to manually manage payroll on spreadsheets. Through LOS integration, CompenSafe automatically calculates and allocates compensation as soon as loans close and fund. By using CompenSafe users gain the ability to generate creative comp plans with the insight and transparency needed to drive profitability. With CompenSafe, users will be able to centralize all chaotic emails and spreadsheets and accurately calculate the loan comp. It offers users tools to help grow their businesses and offers features that can analyze and actions important business responsibilities such as insights, compensation, draws, revenue audits and performance
CompenSafe gives your mortgage company unparalleled control over your variable compensation plans and processes We bridge the gap between your loan origination system and payroll system by enabling your payroll department to eliminate manual data entry and human errors; arm your branch managers with actionable insights into LO and operational staff performance and profitability; and updates your sales teams of the status of their compensation in near real-time.
Key benefits of using CompenSafe
– Automation: Integrates with your LOS in near real-time so loan commissions and bonuses are automatically calculated as soon as loans close and fund.
– Single source: Seamlessly organizes loan comp data allowing users to manage, audit, analyze, and report on loan commissions and bonuses in a single place.
– Transparency: The platform empowers mortgage lending professionals, improves communication, and helps build trust by providing total transparency throughout the compensation process.
Pros
This tool is super easy to use. I use it about every other week when payday comes along to verify & check the commissions that will be on each paycheck.
This tool is super easy to use. I use it about every other week when payday comes along to verify & check the commissions that will be on each paycheck.
Cons
I haven’t ran into any issues with Compensafe. I don’t rely on it as much as I’m sure someone with a different position in our company would use – but for what I use it for, it’s great!
I haven’t ran into any issues with Compensafe. I don’t rely on it as much as I’m sure someone with a different position in our company would use – but for what I use it for, it’s great!
Features
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Amortization Schedule
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Client Database
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Loan Origination
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Loan Servicing
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Residential Mortgages
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Contact Management
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Document Management
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Loan Management
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Marketing Automation
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Multi-Branch
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Payment Tracking
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Pipeline Management
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Residential Mortgages
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Third Party Loan Origination
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Visual Presentation
Pricing