Shows higher revenues, upgrades financial reporting solution for mortgage lenders
IRVINE, Calif., January 28, 2013 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that it has experienced several important milestones in 2012, including exceeding company revenues from the previous year by 68 percent. This increase was partially driven by increased sales of the Web Based Branch Reporting Tool within its Accounting for Mortgage Bankers (AMB) system.
Advantage Systems also upgraded its web-based financial reporting solution to provide branch managers with on-line access to comprehensive financial reporting that historically came from the accounting department. The system eliminates the time burden on accounting departments and gives branch managers real-time access to detailed branch reporting in a format that they have come to expect. At their fingertips, branch managers can quickly evaluate branch performance and loan profitability.
The company also reported that sales of its Commission Calculation Module within its Accounting for Mortgage Bankers (AMB) product doubled in 2012. The Commission Calculation Module enables lenders to automate the calculation of commissions and bonuses in both retail and wholesale environments.
“We increased sales of our AMB product by providing added features that meet the evolving needs of mortgage lenders, such as our web-based reporting tool and the enhanced commission module,” said Brian Lynch, president of Advantage Systems.
AMB is an accounting system that was specifically designed for mortgage bankers to provide loan-level detail of accounting transactions. The system provides general ledger, accounts payable and report writing capabilities.