Commission calculations are frequently a source of frustration both for lender management and for loan officers and, as all lenders know, nothing demotivates a mortgage lender's sales people more than when their commissions are not paid accurately.
Formerly referred to as CommissionTrac, DataTrac Commissions, DMD’s commission management tool, helps lenders maintain commission accuracy and accountability for RESPA-related fee compliance. The platform also automates the calculation, timing, communication and reconciliation of commissions throughout your entire sales team.
DataTrac Commissions provides total commission transparency, allowing loan originators access to their commission pipeline 24 hours a day, every day of the week through its web-based system. It also allows lenders to demonstrate their commitment to calculating originators’ commissions accurately and quickly, which contributes to a competitive edge in attracting stellar loan originator talent.
DataTrac Commissions allows lenders to set up fee floors in compliance with RESPA, enabling them to catch pricing mistakes before it is too late to make corrections. The platform also gives lenders the ability to test ‘what if’ scenarios for compensation plans, allowing them to understand exactly how commissions would be paid if plan changes are adopted – an analysis typically viewed as so complicated that it is rarely done.
With DataTrac Commissions, you can create flexible, customized and accurate commission programs that eliminate costly and time-consuming manual calculations.
- Keep your sales team focused on selling with web-based commission pipelines available 24x7
- Fix problems before a check gets cut using automated review and approval workflow
- Increase originator satisfaction and production with detailed reports
- Recruit and retain top originators by being better than your competition
- Decrease your accounting costs by utilizing programmed calculations and seamless integrations to DataTrac
Problems Solved for mortgage lenders
To explore the impact DataTrac Commissions can have on solving some of your existing business challenges, please select the links that resonate with your business lending operations:
mortgage lender Feedback
Don't take our word on how great we think DataTrac Commissions is... read about how mortgage lenders have improved after they leveraged DataTrac Commissions:
Implementation
We have helped so many clients deploy our solutions over the years, we have been able to develop a comprehensive and systemized approach that will ensure your success.
Technical Requirements
DataTrac Commissions is a browser-based solution, so there is no software to install on each user's desktop.
The DataTrac Commissions server application may run on a shared web server with AutoPrice, DataTrac Originator, DataTrac Web, DataTrac Dashboard and Vendor Services depending on server capacity and transaction volume.
Remember, you can also have us host for you