Glossary

Term
(Shortened)
Description

4506-T
(4506T)
Date the 4506-T was ordered and/or received.

Access Level
(AL)
Outlines employee’s access level and access permissions in nCino Incentive Compensation. There are two types of access levels; one regarding compensation and one regarding sales and loan pipeline. Options, from highest access to lowest are AL5 – Executive, AL4 – Region, AL3 – Master Branch, AL2 – Sub-Branch, and AL1 – Own Production. (nCino Incentive Compensation Term).

For more information, read Access Levels Explained

Access Level 1 – Own Production
(AL1)
AL1 is the lowest access level available in nCino Incentive Compensation. Own Production access level grants user visibility into the user’s own payroll information and all loan information for loans the user is assigned to. The user will not have visibility into payroll information of any other user.

For more information, read Access Levels Explained

Access Level 2 – Sub-Branch
(AL2)
AL2 is the second lowest access level available in nCino Incentive Compensation. Sub-Branch access level grants user full visibility into all loan and payroll information for branch employees with a lower access level in the user’s home branch. You can grant the user higher access to see payroll information of branch employees with Sub-Branch, Master Branch, Region or Executive access level on the user’s employee details access tab.

For more information, read Access Levels Explained

Access Level 3 – Master Branch
(AL3)
AL3 access level grants user full visibility into all loan and payroll information for branch employees in the user’s home branch and any sub-branches of that branch. You can restrict the user to only see users with lower access level on the user’s Employee Details Access tab. Additionally, you can grant the user access to additional branches within the user’s branch by granting the user Area Manager access.

For more information, read Access Levels Explained

Access Level 4 – Region
(AL4)
AL4 is the second highest access level available in nCino Incentive Compensation. Region access level grants user full visibility into all loan and payroll information for branches and their employees in the user’s home region. The user’s home region is based on the home branch of the user. You can restrict the user to only see users with lower access level on the user’s Employee Details Access tab. Additionally, you can grant the user access to additional regions by granting the user Division Manager access.

For more information, read Access Levels Explained

Access Level 5 – Executive
(AL5)
AL5 is the highest access level available in nCino Incentive Compensation. Executive access level grants user full visibility into the entire company. Users with Executive access will see all loan and payroll information for all employees. In addition, executive users can edit, insert, or add payroll transactions, employees and branches into nCino Incentive Compensation.

For more information, read Access Levels Explained

Activation Date
(Active)
Date the item (for example, compensation schedule, employee, auto draw, etc.) was activated in nCino Incentive Compensation.
Adjustable Rate Mortgage
(ARM)
Type of amortization.
Adjustment Type
(Type)
Payroll adjustment type used for reporting purposes only. Adjustment types vary by company.
Administrative Assistant
(AA)
nCino Incentive Compensation position.
Allocation Rule
(Allocation)
One of the 3 variables that nCino Incentive Compensation compensation plans are composed of. Allocation Rules are used when you need to control the visibility of the transaction or when an additional calculation needs to occur after a Schedule and/or Override calculation has occurred. (nCino Incentive Compensation Term)

For more information, read Understand Allocation Rules

Application
(App)
Date received full application including property address. An application must meet the following criteria: receipt of customer(s) name, monthly income, social security number for credit report, property address, estimate value of property, and mortgage loan amount sought; application date not older than 60 days; and there has been activity on the loan within 30 days.
Application Fee
(App Fee)
Application fee is calculated by adding the Borrower Fee amount and Seller Fee amount.
Appraisal
(Appr)
Date appraisal was ordered and/or received.
Approved with Conditions
(AWC)
Loan is approved by UW but borrower must submit additional documents before loan can move on to be clear to close.
Arrears Balance
Amount owed to company by the employee
Assigned As
(Assigned)
The nCino Incentive Compensation position an employee must be tied to the loan as in order for the SAO to be used.
Assigned To
(Assign)
The nCino Incentive Compensation position the SAO is used for.
Assignment
(Assign)
Position to which employee is assigned as. Assignments vary by company.
Automated Underwriting System
(AUS)
Date loan was submitted to AUS.
Average Loan Amount
(Avg LA)
Average loan amount for loans completed.
Basis Points
(BPS)
Term of which compensation is determined by a fixed percentage of the loan amount, 1/100th of 1%. The relationship between the percent change and basis is 1% change = 100 basis points; 0.01%=1 basis point.
Bond79
(Bond B)
Loan type.
Bonus
A form of compensation and the payment type paid.
Borrower
(Borr)
The primary borrower on the loan.
Branch Manager
(BM)
nCino Incentive Compensation position.
Branch Number
(Br #)
Branch number assigned through loan origination system
Branch Restriction
(Br Restrict)

Restricts an SAO to pay out only for loans originated at the selected branch.

Sometimes written as “

Brokered Loan
(Bk)
Designates if loan is brokered.
Canceled, Denied, or Withdrawn
(CDW)
Loan milestone status.
Clear to Close
(CTC)
Loan milestone status when final approval has been granted by UW.
Closed
Date loan closed.
Closer
(CL)
nCino Incentive Compensation position.
Closing Disclosure
(CD)
Date the CD was sent to the borrower.
Combined Loan-to-Value Ratio
(CLTV)
Calculation: (Loan Amount + Total Balance on any Existing Mortgages)/Estimated Value of Home
Commission
(Comm)
A form of compensation and the payment type paid.
nCino Incentive Compensation Position
(Position)
Standard list of roles that company job titles get mapped to in nCino Incentive Compensation.
Compensation
(Comp)
General form of payment; encompassing all types of payment such as commission or bonus.
Compensation Plan
(Comp Plan)
Employee’s pay plan comprised of all schedules, allocations, and incentive plans.(nCino Incentive Compensation Term)

 

Compensation Schedule
(Schedule)
Compensation schedule in which nCino Incentive Compensation uses to calculate compensation.(nCino Incentive Compensation Term).
Completed Date
(Completed)
Companywide predetermined parameter indicating a loan is commission payable. When a loan reaches this date, typically the closed, funded, or disbursed date, compensation is calculated and the loan no longer is in the nCino Incentive Compensation pipeline. Actual date varies by company.
Completed Status
LOS loan statuses mapped to the Funded, Shipped to Investor, Suspended by Investor, Purchase/Settled, and Servicing nCino Incentive Compensation status. For companies with an additional loan status or milestone clause that a loan must meet to qualify as commission payable, a loan is not considered complete until it has reached the Completed Date and is in one of the above mentioned nCino Incentive Compensation completed statuses.
Conforming
(Conf)
Loan type.
Conventional Loan
(Conv)
Loan product.
Credit Adjustment
(Credit; C)
Designates a transaction was a credit transaction.
Credit Requested
(Credit Rpt)
Date credit report was requested.
Debit Adjustments
(Debit; D)
Designates a transaction was a debit transaction.
Development Credit Authority
(DCA)
Loan type.
Disbursed
(Disb)
Date loan funds disbursed.
Discount Fee
(Disc)
Total borrower paid discount point amount.
Document
(DOCS)
Loan milestone status when closing documents ordered to be sent out to attorney/settlement agent (pre-closing). Covers Title Report, Appraisal, Hazard Insurance, Credit report, 4506T, and closing instructions.
Docs
Tab on Employee Details record that lists all PDF documents uploaded to the platform, the active and inactive dates, and when the document was confirmed by the employee. The employee can view, print, or download the file anytime directly from nCino Incentive Compensation instead of having to request a copy of the document from their supervisor. Example of documents uploaded include employee agreements, compensation plan agreements, bonus plans or more.
Draw Balance
Unpaid balance owed by the employee to company.
Employee number
(Emp #)
Unique number assigned to employee per HR payroll system.
Estimated Closing Date
(Est. Close)
Date loan is expected to close.
Expired
(Exp)
Lock status indicating the loan's interest rate has expired.
FHA
Federal Housing Administration insured/government loan.
First Draw Date
For Auto Draws, this is the date when the auto draw will first go into effect.
Fixed
(F)
Amort type.
Float
(F)
Lock status indicating the loan's interest rate has not been locked.
Frequency
(Freq)
Indicates how often an Auto Draw is used.
Funded
(Fund)
Loan milestone status when all docs have been executed and loan conditions are met, title company receives funds for disbursement.
Gross BPS
Gross commission earned expressed as basis points.
Guaranteed Minimum
(Guar Min)
Pre-determined payroll amount. Employee is guaranteed the greater of this pre-determined amount OR commissions earned amount. If a guaranteed minimum is paid out, the amount is posted as a credit to the employee on the EPT file and will create a draw balance. Amount may or may not be recaptured at a later date. If recaptured, any guaranteed minimums that were posted will be netted from the employee's commission.
Hazard insurance
(Haz)
Date the hazard insurance was ordered and received.
Hire Date
(Hired)
Date employee was hired per LOS.
Home Equity Conversion Mortgage
(HECM)
Type of loan where a borrower over 62 can pull equity from their home without paying a monthly mortgage payment. Funds from this equity are usally disbursed to borrower through a HECM line of Credit.
Home Equity Conversion Mortgage line of credit
(HECM LOC)
Line of credit for borrowers with an HECM loan.
Home Equity Line of Credit
(HELOC)
Line of credit secured by borrower's residence.
HUD 203K
(203K)
Loan type.
Impersonate
Allows a AL2 and over users the ability to view an account of a user with lower AL.
In Process
Loan file submitted to AUS/processing
Inactivation Date
(Inactive)
Date became inactive in system.
Interest rate
(Int Rate)
Locked interest rate for a loan.
Investor Price
(Price)
Investor lock buy price. Buy price for selling the loan in the secondary market.
Interest Yield
(Yield)
Calculation: [ (Investor Price " 100M) x Total Loan Amount ] / 100M; counted as Revenue
Job Title
(Title)
Employee's full job title per HR that gets mapped to a nCino Incentive Compensation position.
Jumbo
(J)
Loan type.
KPI

Key Performance Indicator. A chosen measure that a company uses as in indicator of its performance.

Lead
Any new account entered in LOS that has a credit pull but does not meet the full criteria for Application.
Lead Source
Name of the person who referred the borrower.
Lead Source Type
(Lead Type)
Type of lead source
Lender Credits
Total lender credits on the loan
Lender Paid Fees
(LP)
Total amount of lender paid fees, including credits and cure.
Lien Position
(Lien)
Type of lien position on the loan.
Loan Amount
(LA)
The amount of one loan, including mortgage insurance premium.
Loan Channel
The channel the loan originates in. Current channels include retail, wholesale,correspondent, and brokered.
Loan Eligibility Date
(LED)

On a compensation plan: Once a loan reaches this loan milestone, this compensation plan can apply to the loan.

Ex: LED = “Funded means that the loan must reach the funded milestone before it is eligible for this compensation plan.

Loan Estimate Form
(LE)
Date LE was provided to borrower.
Loan Number
(Loan #)
Unique number assigned to the loan per LOS.
Loan Originator
(LO)
nCino Incentive Compensation position.
Loan Originator Assistant
(LOA)
nCino Incentive Compensation position.
Loan Source
Referral source of loan, for example, external, internal, or marketing.
Loan Status
(Status)
Status of loan in pipeline.
Loan Term
(Term)
Term of loan expressed in months.
Loan Type
(Type)
Mortgage program/type of loan.
Loan-to-Value Ratio
(LTV)
Ratio between unpaid principal amount of a loan and the appraised value of the collateral.
Lock Down Date
(Lock Down)
Set each pay period by an administrator in the Corporate Payroll menu, this represents the date that loan records in nCino Incentive Compensation no longer receive updates from LOS and compensation is no longer updated.
Lock Status
(Status)
Status of a loan's interest rate lock.
Locked
(L)
Indicates the loan's interest rate is locked.
Marketing Balance
(Mkt Bal)
Balance available for marketing spend purposes.
Marketing Representative
(MR)
nCino Incentive Compensation position.
Master Branch
(Master)
A stand-alone branch can be a Master branch with or without affiliated sub-branches. A sub-branch is a branch that is subordinate to another branch. Only applicable when company has master branches and sub-branches (satellite or sales offices at different physical addresses).
Maximum Compensation
(Max $)
Maximum amount to be paid out to the employee for each utilization of the SAO.
Maximum Rayroll Recapture
(Max Recap)
Limits amount that can be recaptured from a draw balance. The amount can be a percentage or flat dollar amount.

For more information, read Maximum Payroll Recapture for Draws

Minimum Compensation
(Min $)
Minimum amount to be paid out to the employee for each utilization of the SAO.
Minimum Units
(Min #)
Minimum number of loan units expected to be completed in a date range.
Nationwide Multistate Licensing System & Registry Number
(NMLS)
Unique identification number used as the official system of record for all federal registrations required of federally regulated mortgage loan originators.
Net Basis Points
(Net BPS)
Total commission after all allocations and adjustments have been applied, expressed as basis points.
Net Commission
(Net Comm)
Total commission after all allocations and deductions have been applied, expressed as a dollar amount.
Net Pay
Bottom line payroll amount paid to employee, including all compensation, adjustments, and recaptured draws.
Net Revenue
(Net Rev)
Revenue earned by the branch after loan commission paid.
Non-Conforming
(N)
Loan type.
Not Registered
(NR)
Lock status indicating the loan's interest rate has not been locked.
Operations Manager
(OM)
nCino Incentive Compensation position.
Ordered
Date loan document was ordered.
Originated
(ORIG)
Loan milestone status.
Origination Fee
(Orig Fee)
Calcuation: Borrower Fee + Seller Fee; counted as Revenue.
Other Adjustments
The amount of other adjustments that have been made to a draw record.
Override Schedule
(Override)
No longer used. Replaced with Incentive Plans. Compensation received in whole or part based on the loan production of others. (nCino Incentive Compensation Term)
Pay Date
For reference and reporting purposes only. The actual pay date is set per the payroll and deposit transaction system.
Pay Type
(Type)
Type of payment paid to employee. For example, commission, bonus, etc.

Payable On Date
(POD)

On a compensation plan: Once a loan reaches this loan milestone, this compensation plan will pay the employee.

Ex: POD = “Completed means that the loan must reach the completed milestone before it will pay the employee.

Payroll Adjustment
(Adjust)
Any adjustment made to an employees compensation that is not calculated using an SAO.
Percent Purchase
(% Purch)
Percent of loans that are for purchases.
Pipeline Event
(Pipeline)
Any event nCino Incentive Compensation tracks from pre-qualification through funding. A loan is no longer part of the loan pipeline once it's reached its Completed status.
Pre-Approval
(Pre)
Loan milestone status. May appear as Pre-Qualification (Pre-Qual) depending on the company.
Previous Balance
(Prev Bal)
Previous draw balance owed by the employee.
Processing
(PROC)
Loan milestone status.
Processing Fees
(Proc Fees)
Calculation: Borrower Fee + Seller Fee; counted as Revenue.
Processing Manager
(PM)
nCino Incentive Compensation position.
Processor
(PR)
nCino Incentive Compensation position.
Processor Assistant
(PA)
nCino Incentive Compensation position.
Product
Type of mortgage program of the loan.
Pull Thru
Percentage of pipeline loans that completed.
Purchase
(Purch; P)
Loan purpose.
Purchased by Investor
(PURCH)
Loan milestone status indicating the loan has been purchased by an investor and/or settled.
Purpose
(Purp)
Purpose of the loan. For example, purchase (P), refinance (R), construction (C), etc.
Rank
Rank among peers based on total performance.
Rank by units
(Rank #)
Rank among peers based on total units completed.
Rank by volume
(Rank $)
Rank among peers based on total loan volume for loans completed.
Recapture Amount
(Recap Amt)
The amount to be recaptured from the employee’s compensation for an outstanding draw balance.

For more information, read Build Auto Draws

Recapture Date
Date the draw will be recaptured.
Received
Date loan document was received from vendor.
Refinance
(R)
Loan purpose.
Region
(Reg)
Name and/or number of the company region.
Region Manager
(RM)
nCino Incentive Compensation position.
Retail Type
(Retail)
Indicates the retail type of a branch.
Reverse
(R)
Loan type.
Reverse Line of Credit
(Q)
Loan type.
Reverse Mortgage
(HECM)
Loan type.
Sales Manager
(SM)
nCino Incentive Compensation position.
Scorecard
Performance monitoring tool that provides KPI on LOs, branches, regions, and corporate.
Servicing
(SERV)
Loan milestone status.
Shipped to Investor
(SHIP)
Loan milestone status indicating the loan has been shipped to investor.
Shortage
(Short)
If expected revenue, including points and fees, is less than actual revenue earned, it is the difference between the two.
Signed
Loan milestone status indicating documents signed but funds not yet disbursed.
Starting Balance
Balance of recoverable draws prior to current payroll.
Sub-Branch
(Sub)
A branch that is subordinated to another branch. These often may be referred to as satellite offices or sales offices.
Submitted to Closing
(CLSG)
Loan milestone status.
Target BPS
Expected basis points.
Target Fees
Expected fees.
Target Revenue
(Target Rev)
Expected revenue.
Target Yield
Expected yield.
Terminated Date
(Term Date)
The last day of employment for the individual if they are no longer with the company, according to the employee's LOS account being inactivated. If the employee returns, the same employee directory record will be utilized for the individual.
Tier Type
Description of tier level.
Title Report
(Title)
Date title report was ordered and received.
Total Fees
(Fees)
Total revenue earned from fees. This includes charge, lender credit, revenue, target, and all lender paid credits as they impact revenue. Fees not included are appraisal, credit report, title, and attorney fees.
Total Loan Amount
(Total LA)
Total amount of the loan, including MIP. It is also the amount that compensations paid in basis points are calculated off of.
Trigger Date Determining Eligibility
(Trigger)
Date on the loan record nCino Incentive Compensation uses to determine what SAO to use to calculate compensation. The trigger is set at the individual SAO and used for each employee assigned to the SAO. (nCino Incentive Compensation Term).
Underwriter
(UW)
nCino Incentive Compensation position.
Underwriting
(UW)
Loan milestone status.
Underwriting Fees
(UW Fees)
Calculation: Borrower Fee + Seller Fee; counted as Revenue.
Units
(#)
Number of loans; 1 unit = 1 loan.
Units Expired
(# Exp)
Number of loans with expired locks.
Unpaid Draw Balance
(Draw Balance)
Any amount owed to the company that remains to be recaptured from earnings.
USDA home loan
(USDA)
United States Department of Agriculture insured/government loan.
VA
Veterans Administration insured/government loan for members of and veterans of military service.
Verification Due Date
Cut off date for employees to review, question, or comment on their compensation in nCino Incentive Compensation. Established per pay period and per company.
Volume
(Vol)
Sum of more than one loan amount.
Volume Expired
(Vol Exp)
Total volume for loans with expired locks.
Waive Date
The date an unpaid draw's balance will be waived and no longer owed by the employee.
Waived
Indicates the unpaid draw balance was waived.
Watch or Warn
Warning status applied to an employee for performing below the company's specified standards.
Yield
Calculation = LA * (Price/100000)