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, DMD’s commission management tool, automates the calculation, communication and reconciliation of variable pay across your organization. Your compliance policies are enforced, and simultaneously documented for your regulators.
DTC provides total commission transparency...
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. This assures fair payment to your loan officers, and also assures you reliably recover due expenses.
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.
DataTrac Commissions product highlights include:
- Document and enforce your compliance policies with absolute control
- Reduce back-shop expenses associated with commission administration
- 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
- Recruit and retain top originators by being better than your competition
Create custom dashboards
Each user can create their own custom dashboard by linking views to their favorite charts and reports. Quickly navigate to review a history of past commissions, current transmittals, and pipeline of future commissions.
Manage commission process workflow
DataTrac Commissions facilitates all aspects of workflow behind the commission process, enabling users to check on draw and adjustment balances, as well as review and approve calculations. Delegated users can adjust amounts, or even split commissions between users.
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