5X Solutions Announces New Incentive Compensation and Bonus Software for Mortgage Lenders

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Telemetry BI – Mortgage Accounting and Business Intelligence Platform

Telemetry BI Expands its Mortgage Business Intelligence Platform by Adding Loan Originator Compensation and Bonus Management

The interactive nature of this feature fosters collaboration and trust between loan agents and management. This reduces friction and time while ensuring compliance.”

— Ron de Frates

SAN DIEGO, CA, UNITED STATES, September 17, 2021 /EINPresswire.com/ — 5X Solutions, LLC, a mortgage business intelligence and data analytics company, has announced the addition of loan agent compensation management to its automated financial reporting and mortgage business intelligence system.

Now mortgage lenders and banks can easily manage loan commissions and bonuses to their agents. This feature not only provides reporting of compensation; it also allows loan agents to review and confirm the underlying loan data before payments are made to ensure that commissions and bonuses are correct.

In addition to managing current loan commissions and bonuses, loan agents and management can view projected compensation based on Telemetry BI’s advanced forecasting and goal-setting technology. Loan agents, branch managers, and corporate executives can track progress toward pre-set goals. Coupled with Telemetry BI’s financial analytics (ex. Branch P&Ls, Cost Per Loan, etc.), managers can decide how to make discretionary bonuses based on actual profit.

Telemetry BI users now have complete visibility into the commissions paid to Loan Originators. This includes loan-level details, dollars paid, and basis points (bps) for each transaction. In the past, accounting personnel would generate reports manually via spreadsheets, only to have them challenged by loan agents and branch managers questioning the underlying numbers. In other cases, clients risked overpayment due to manual mistakes or incomplete data.

Compensation management provides post-payment audit capabilities to accounting and financial staff. Reports are automated by integrating data from the client’s accounting system and their loan origination software (LOS). Compensation may be calculated based on the number of closed units, funded amounts, loan types, referrals, and loan assistants, providing transparency and timely access via on-demand compensation analytics.

This enhances Telemetry MBI’s existing Marketing and Expense program that enables Loan Originators to benefit by claiming pre-tax expenses related to their efforts generating business.

Telemetry BI’s new compensation analysis complements its Marketing and Expense program, financial reports, KPIs, performance dashboards, and analytics to provide a 360-degree view of a mortgage business’s operational health.

5X Solutions’ Co-Founder John Beneventi says “Compensation analysis rounds out Telemetry BI’s automated financial reporting capabilities by offering managers the ability to drill down on details and explore trends around each Loan Originator’s performance and compensation”.

About 5X Solutions
5x Solutions, LLC is a Fintech company that offers digital mortgage industry solutions that focus on mortgage business intelligence, automated financial reporting, performance dashboards, data analytics, and other BI tools. It offers lenders both advisory and technology services that optimize resources, improve profitability, contain costs, and help increase scalability. Using its cloud-based Telemetry BI platform, clients have 24/7 access to critical key performance indicators, metrics, and financial reports needed to measure and manage their company. Their turnkey, cloud-based business intelligence platform offers a best-practice approach to data analytics and reporting. Learn more at http://www.5xsolutions.com or http://www.telemetrybi.com

John Beneventi, Co-Founder
5X Solutions, LLC
+1 858-759-7028
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