Commission Calculation Software
Mortgage Commission Calculation Made Easy
Mortgage Broker Software
AMB's mortgage commission calculation software reduces the labor required by allowing users to quickly and easily calculate commissions, commission adjustments, bonuses and “Overrides”. Commission “Profiles” define the agent/broker commission compensation plan as approved by management.
These are easily assigned to one or more Loan officers. Creating new “Profiles” is easy and the system always keeps track of which profile was in effect on a given day allowing you to not only calculate the commissions on the current period but to recalculate commissions on prior periods as well, as may be required by an audit.
Commissions today must comply with the Dodd Frank legislation and as such are primarily based on the dollar amount of each loan being originated. The number of loans or the total loan volume within a period may also be used in the calculation. Complex calculations including minimum and maximum loan volumes, with tiered commission rates, are easily calculated within the system as are loan officer splits, referral fees and relationships to assistant loan officers.
Once calculated, AMB's commission calculation software offers numerous ways to view your data. Reports can be printed to paper or emailed to the respective recipients or can be viewed online using the Web Based Branch Reporting or Web Based Loan Officer reporting modules.
The Commission Override feature allows the calculation of override fees to be paid to non-Loan Officers within the company such as branch managers, loan processors, call takers , underwriters, etc. This unique capability has saved immeasurable amounts of time while meeting management’s goal to compensate individuals based on performance.
AMB's commission calculation software Payroll Draws feature allows the upload or entry of variable or fixed payroll draws. The system calculates the reduction of commission due to the draw or guarantee, or it accumulates a draw balance. Payroll draws are another example of AMB’s ability to address the specific needs of the mortgage payroll department.