SAN DIEGO, Calif., May 20, 2021 (SEND2PRESS NEWSWIRE) — 5X Solutions, LLC, a mortgage business intelligence and data analytics company, has announced the addition of loan agent compensation analysis to its automated financial reporting and mortgage business intelligence software.
Users of Telemetry BI now have complete visibility to the commissions paid to loan officers. 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, the client risked overpayment due to manual mistakes or incomplete data.
This new reporting tool provides post-payment audit capabilities to accounting and financial staff. Reports are generated automatically by integrating data from the client’s loan origination software (LOS) and their accounting system. Compensation is calculated based on units closed, funded amounts, loan types, referrals, and loan assistants, providing transparency and timely access via on-demand compensation analytics.
Corporate executives, branch managers, regional managers, and individual loan officers can view compensation details relevant to them in real-time. This eliminates the need for the constant back-and-forth between accounting staff and loan agents to validate results and answer questions.
A planned release of prepayment commission and bonus reporting for the entire company including loan processors, underwriters, and other staff members will add efficiency and transparency to the mortgage operation. Details can be viewed before payments are made to ensure that commissions and bonuses are correct. This enhances Telemetry MBI’s existing Marketing and Expense program that enables loan officers to benefit by claiming pre-tax expenses related to generating business.
Telemetry MBI’s new compensation analysis complements existing financial reports, KPIs, performance dashboards, and analytics to provide a 360-degree view of a mortgage business’s operational health. Adoption of this feature by clients has exceeded expectations. 5X Solutions’ Co-Founder John Beneventi says “Compensation analysis rounds out Telemetry MBI’s automated financial reporting capabilities by offering managers the ability to drill down on details and explore trends around each loan officer’s performance and compensation.”
Learn more about Telemetry MBI: https://www.5xsolutions.com/Mortgage_Business_Intelligence
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, improves profitability, contain costs, and helps increase scalability. Using its cloud-based Telemetry MBI 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 https://www.5xsolutions.com/ or http://www.telemetrybi.com
*LOGO LINK: https://www.5xsolutions.com/images/5x_TBI_logo_lrg.png
News Source: 5X Solutions LLC
Related link: https://www.5xsolutions.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/5x-solutions-adds-compensation-analysis-to-their-mortgage-business-intelligence-platform/
