QCommission Mortgage Industry Feature Matrix

pdf Download Mortgage Industry Feature Matrix
 

QCommission Mortgage Industry Feature Matrix

This document identifies some of the more unique features relevant to mortgage related commissions.

 
To review a more complete list of General Features, visit QCommission General Feature Matrix

Payees - Payees are entities that receive variable payouts. Payees can be employees, external individuals or external companies.

Functionality Feature Description
  Payees can be Loan Officers Payment recipients are commonly Loan Officers
  Payees can be Loan Processors Loan Processors are sometimes paid commissions
  Payees can be Branch Managers Branch Managers get paid overrides at branch levels
  Payees can be external referral agents Outside groups such as real estate agencies can get referral commissions.
     

Sales Organization - Sales organization stores the reporting relationship between entities in the organization.

Functionality Feature Description
  Sales organization can have a hierarchical relationship Sales organization entities can report into each other. It can be in a hierarchical manner. Branch Office "Maine" reports into "North East" Region.

Customer - Customers are the firms and individuals to whom sales is made.

Functionality Feature Description
  Customer address info Customer contact information can be maintained, including address of property.

Products - Products and Services are what the company sells.

Functionality Feature Description
  Product based crediting Product information can be used in credit rules. A particular Product or group of product's sales can be credited to a particular payee. E.g. crediting "FHA" loans to one LO.

Commission and Bonus Calculations - Any kind of variable payouts can be calculated by the system. Calculations can include, commissions, bonuses, referrals and royalties.

Functionality Feature Description
Plan Commission plans are the agreements that the company has with its Payees. The plan specifies the rules for awarding commissions and incentives to the payee. A plan is made up of many incentives. Expand / Collapse
  Role based plans Commission plans can be different for LO, Loan Processor, Branch Manager and other roles.


Transactions Commissions can be calculated on almost ANY kind of transactions. Transactions can be imported from external sources. Transactions can also be entered/modified in the system. Some examples of other transactions that can be handled are: "Customer Satisfaction" scores, or "Appointments Made". Expand / Collapse
  Loan Origination Commissions are calculated on loan origination transactions.


Transaction Events Transactions can go through various events, such as booking and payments. Expand / Collapse
 
Transaction Amounts Amounts available on transactions can be used in the commission calculations. Expand / Collapse
  Loan Amount Commissions can be calculated based on sales/revenue amounts.
  Quantity Commissions can be calculated based on number of loans closed
  Profit/Margin Commissions can be calculated based on Profit/Margin. E.g. Income minus certain costs
  Yield Spread Premium, Origination Points Commissions can be calculated based on various income amounts
  Credit Report Fee, Appraisal Fee, Documentation Fees, Processing Fee, Tax Service Fee, Transfer Fee, Courier Fee, etc Commissions can be calculated on various incoming fees. All the possible mortgage related fees can be accommodated.
  Deduction amounts Required but uncollected fees can be deducted from commissions
  Other Amounts Commissions can be calculated based on almost ANY amount that is available on transactions.


Crediting Transactions Crediting is the process of allocating a transaction (sales or other) to the right payee. Mostly a single person gets the credit for a transaction, but sometimes multiple people may get credit for the same transaction. The credit rules are applied against all the transactions entered/imported into the system. Expand / Collapse
  Credit by Branch/Offices Incoming transactions can be credited to Payees, based on nranch/sales organization values available on the transactions.


Incentives: Commission and Bonuses Incentives are any unique calculation formula used to calculate payouts for a Payee. A monthly commission for sales revenue is an incentive; an annual bonus based on quantity of items sold is also an incentive. A Payee's plan consist of multiple incentives. Expand / Collapse
  Loan Volume Tiered Attainment Commissions can be paid based on tiers of attainment for a period. E.g. Every month, accumulate all loan volume for a rep. If sales are < 0,000 pay 2% commissions, if sales are > 0,000 and < 0,000 then pay 5%; if sales are above 0,000 pay 7% commission.
  Loan Income Tiered Attainment Commissions can be paid based on tiers of attainment of loan amounts for a period. E.g. Every month, accumulate all loan volume for a rep. If sales are < ,000 pay 50% commissions, if sales are > ,000 and < 0,000 then pay 60%; if sales are above 0,000 pay 70% commission.
  Loan Units Tiered Attainment Commissions can be paid based on number of loans closed in a period. E.g. Every month, accumulate the number of loans closed for a rep. Pay flat amount or % of Loan income or Loan Volume, based on number of loans closed. The loan closings can be tiered.


 

To review a more complete list of General Features, visit QCommission General Feature Matrix
 
pdf Download Mortgage Industry Feature Matrix