CrossCountry Mortgage Partners with SimpleNexus to Implement CompenSafe Incentive Automation into Its Workflow
SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), announced the implementation of CompenSafe by CrossCountry Mortgage, enhancing incentive compensation management for loan originators. The platform offers real-time pay visibility and automates payroll functions tied to mortgage compensation plans. CompenSafe integrates with existing loan origination systems, streamlining compensation calculations and increasing transparency for employees. As incentive compensation is a significant expense, this move aims to improve recruitment, retention, and operational efficiency.
- CrossCountry Mortgage adopts CompenSafe for efficient incentive compensation management.
- CompenSafe automates payroll functions, enhancing operational efficiency.
- The platform offers real-time visibility into compensation for loan originators.
- None.
National lender selects CompenSafe to improve incentive compensation administration and communication
LEHI, Utah, Dec. 14, 2022 (GLOBE NEWSWIRE) -- SimpleNexus (https://simplenexus.com/), an nCino (NASDAQ: NCNO) company and developer of the leading U.S. homeownership platform for loan officers, borrowers, real estate agents and settlement agents, today announced that CrossCountry Mortgage is implementing CompenSafe™ to manage incentive compensation for its loan originators.
CrossCountry Mortgage is one of the nation’s largest retail mortgage lenders, operating a network of approximately 800 branch locations across all 50 states. The organization selected CompenSafe, the only incentive compensation management (ICM) solution designed for mortgage lenders, to provide staff with near real-time visibility into their pay and to automate complex payroll functions associated with managing mortgage compensation plans.
CompenSafe integrates with lenders’ loan origination systems (LOS’s) to automatically calculate compensation as loans fund. Flexible enough to process draws, guarantees, tiers, quality-related payments and more, the platform enables lenders to reliably produce payroll more quickly and accurately than spreadsheet-based incentive compensation management methods. CompenSafe gives loan officers, branch managers, processors, underwriters and all employees greater transparency into their commissions, bonuses and overrides by outlining how compensation is calculated and when it will be dispersed. A cloud-based portal enables employees to view compensation updates, submit questions to payroll and manage compensation disputes, all in one place for complete audit and compliance.
“Incentive compensation is the largest expense in lenders’ ledgers, and it is also one of the most burdensome to manage,” said Ben Miller, CEO of SimpleNexus. “CompenSafe is a value-add that helps lenders like CrossCountry Mortgage recruit and retain key employees, eliminate cumbersome administrative processes, mitigate risk and protect their bottom lines.”
About SimpleNexus
SimpleNexus, an nCino (NASDAQ: NCNO) company, is an award-winning developer of mobile-first technology for the modern mortgage lender. U.S. lenders depend on our namesake homeownership platform to unite the people, systems and stages of the mortgage process into a seamless, end-to-end solution that spans engagement, origination, closing and business intelligence. By helping lenders manage their teams and stay connected with borrowers and real estate professionals, we deliver a measurable return on investment in the form of reduced turn times, increased loan application submissions and more referral business. A four-time Inc. 5000 company, SimpleNexus has been recognized as one of the world’s Best Workplaces for Innovators. For more information, visit https://www.simplenexus.com or follow @SimpleNexus.
Media Contacts
Leslie Colley
DepthPR for SimpleNexus
+1 678.622.6229
leslie@depthpr.com
David Bolin
SimpleNexus
+1 414.688.6077
dbolin@simplenexus.com
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FAQ
What is CompenSafe and why did CrossCountry Mortgage select it?
How does CompenSafe benefit employees at CrossCountry Mortgage?
What is the significance of incentive compensation in the mortgage industry for NCNO?
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