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Total Commissions Transparency
Commission calculations are not only a compliance concern, but can also represent an inefficient and frustrating process for those who prepare them – as well as those who receive them. DataTrac Commissions automates the calculation, communication and reconciliation of variable pay across your organization. Your compliance policies are enforced, and simultaneously documented for your regulators. Commissions are processed faster and more accurately than conventional methods, eliminating the cost and frustrations caused by payment errors.
DataTrac Commissions provides total commission transparency, allowing loan originators access to their calculation details, commission pipeline, and past statements through a web-based portal. It also allows lenders to demonstrate their commitment to calculating originator commissions accurately and quickly, which contributes to a competitive edge in your recruiting and retention efforts.
With DataTrac Commissions, you can create custom, highly-complex commission programs. Not only are calculations hyper-accurate; draws and repayment of expenses can all be tracked and monitored within the application. Lenders can even test potential compensation plans against past production data. This analysis is typically viewed as too complicated to perform, but our “plan tester” allows you to understand exactly how each user’s net commissions (as well as your bottom line) would be impacted by a proposed policy change.