Stay
compliant with the new regulations on loan originator compensation with
Commission–It 2011!, a completely customizable, fully functioning commission
management program for Ellie Mae Encompass®
users.
·
Commission Plans:
o
Commission – It calculates and manages the following plans:
§
Fixed
monthly salary
§
Fixed
salary based on aggregate closed loan volume or # of units closed
§
Fixed
dollar amount per closed loan
§
Fixed bps
or % per closed loan
§
Volume
bonus tiers based on total volume or total units
§
Define a
minimum and maximum amount to be paid per loan
§
Custom
plans for individual loan originators
o
Define
different commission rates based on lead source, or purchase vs. refinance
o
Combine
multiple base plans, bonus plans, minimums and maximums per loan, in
addition to custom features to allow maximum flexibility
o
Create
custom commission plans and groups
§
Quickly
assign multiple loan originators to a group
§
Maintain
unlimited groups
o
Define
overrides for branch managers and loan originators
·
Management tools for branch managers:
o
Quickly
review and analyze loan originator production
o
Profitability monitoring for “Point Bank” or “overage accounts”
o
Review,
print, and email branch commission reports
o
Branch
managers are able to manage multiple branches with multiple loan originators
·
Accounting functionality:
o
Approval
process for branch managers to approve and submit commission reports to the
corporate office
o
Summary
reporting to simplify payroll
o
Real time
status for branch managers sorted by loan originator
Controls
and permissions:
o
Control
how often branch managers are allowed to change commission details for loan
originators
o
Ability
to turn commission and bonus plans on and off to control which plans are
offered at the branch level
o
Define
pay periods as weekly, twice a month, or monthly
o
Define
custom payroll dates
o
Separate
screens visible for loan originators, branch managers, admins, and
accounting
·
Regulatory compliance:
o
Printable
Commission Plan Acknowledgment for changes to plans with signature lines for
branch managers and loan originators
o
Pricing
overages not visible to loan originators
o
Custom
restrictions on the frequency of plan changes
o
Complete
audit trail of all changes, additions, and subtractions to the plans
o
Printable
reports detailing current commission plans by company, branch and loan
originator
o
All
historical data archived for future reporting or auditing
·
Encompass®
Integration:
o
Interface
with Encompass SQL Reporting Database table for real time data
o
SQL
Database stores user settings, program settings, and commission history
o
Program
login security limits access to sensitive data
o
Custom
data mapping to company specific fields for pricing detail information
·
Miscellaneous other features:
o
Import
.csv files from other systems to track and manage historical loan data
o
Excel
spreadsheet template allows importing data for what-if scenarios to assist
in creating commission plans for new hires
o
Loan
originators have access to view commissions earned in real time and can look
at historical data from prior periods
The
Enterprise Edition includes all options listed above.
The
Standard Edition does not include:
LO
Profitability
Accounting
Internal
Email System
Requirements:
Encompass®
Client
Registered Encompass®
SDK for non Ellie Mae Hosted systems
FULL
Registered version of the Encompass®
SDK for Ellie Mae Hosted systems
SQL
Database
Commission-it 2011 Release Date Estimated for April 1st 2011 or
sooner.
Call to schedule your DEMO
today
“Encompass®
is a registered trademark of ELLIE
MAE, Inc."
