An Efficient, Comprehensive, Safer Path to Powerful Mortgage Compensation Management

To stay ahead in today’s fierce mortgage world, you need improved visibility to make data-driven decisions and to quickly answer critical questions. You need to be able to accurately forecast and accrue compensation payments, and quickly and effectively communicate sales data to your channels. And you need the flexibility to get plan changes, bonuses, and short-term incentives accurately projected and into the market faster. Welcome to Iconixx.

Compliance and Auditing: Avoid Fines and Cut Time Spent on Audits

Every mortgage company today is facing the same compliance and auditing challenges:

  • Dodd-Frank and other mortgage regulations are redrawing the ground rules.
  • Noncompliance is costly. Take, for example, the $1 million fine against one mortgage CEO for compensation violations.
  • Acquisitions and mergers lead to informal arrangements — “handshake” compensation plans and deals.

The Value of Iconixx

  • Audit — Our primary focus is on full date-effective data management on compensation rules, formulas, adjustments, and capturing of changes via workflow elements.
  • Reporting — Iconixx ad hoc reporting can create all elements and has save and reuse functionality.
  • Security — Role and permission management is built in for all interfaces.

Plan Flexibility and Variation: Maximum Plan Flexibility with Minimum Cost

Half of the larger lenders and brokers/agencies purchase small groups, creating a very large number of completely different plans and plan elements. In a perfect world, functionality would allow for several types of compensation elements in a library, combined with the ability to mix and match elements to create any number of plans.

The Value of Iconixx

  • Gain a competitive differentiator — Plan flexibility is key to helping mortgage companies buy books of business.
  • Simplify but increase sophistication — Do less math and leverage a maximized number of tables (e.g., rate, tier, etc.) that allows for any number of combinations.
  • Minimize reliance on internal operations — Take advantage of easy table uploads and require minimal maintenance from your IT staff.

Accuracy and Timely Payments: Pay Quickly and Accurately to Unleash the Sales Beast

Third-party partners and mortgage brokers who don’t work for you are only highly motivated by fast, accurate payments. On the other side, they are very disengaged by the slow, inaccurate payments. Inaccurate and delayed payments lead to lower broker productivity and quality.

The Value of Iconixx

  • Accuracy – You eliminate overpayments, which are difficult to get back and can equal an estimated 3 to 5 percent of payments (Gartner).
  • Automated checks – Iconixx ad hoc reporting gives you the option of performing interim calculation results and rechecking the amounts in “near time” — before payments are released.

Plan Comparisons and Optimization: Optimize the Plans, Get Real-time Production

If you’re a mortgage executive, you know you’re under increasing pressure to optimize new plan elements and methods to improve payouts and better motivate large sales teams. And you’re probably under similar pressure to project optimal payment plans and maximized profits.

The Iconixx Value

  • Velocity — You get the flexibility to make changes with total review before implementing.
  • Maximum management view — Iconixx enables you to run multiple scenarios side by side with existing production data, to copy and change data, and run scenarios again.
  • Real time — You can run plans in real time — not in a batch or overnight — and in one production environment.

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