Mortgage lender leverages accounting technology to grow in wake of Great Recession
IRVINE, Calif., Sep 02, 2015 Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announces that Bakersfield, California-based GEM Mortgage has used its AMB (Accounting for Mortgage Bankers) solution to grow significantly in the post-recession recovery period.
In 2012, GEM Mortgage selected Advantage Systems’ AMB as its mortgage accounting system, instead of a generic accounting system. AMB enabled GEM Mortgage to resolve any issues with trust account reconciliation.
Prior to implementing AMB, GEM Mortgage accountants experienced difficulties balancing trust accounts each month. AMB alleviated this issue entirely through its loan level reporting capabilities.
GEM Mortgage also wished to increase its productivity and used AMB to grow without the need for additional accounting staff. AMB enabled GEM Mortgage to handle nearly double the loan volume by allocating staff strategically. Additionally, due to the loan level detail offered through AMB, branch managers were able to review the activity of their branch more effectively.
“We chose AMB because it was a system built around the needs of mortgage lenders,” said David Chesney, CFO of GEM Mortgage. “Advantage Systems has encouraged an active dialogue between its customers and staff, one example of which is gathering feedback from customers during their latest user conference.”
“GEM Mortgage has grown significantly since the recession and has seen higher loan volumes since implementing AMB,” said Brian Lynch, president of Advantage Systems. “We have seen that the time we have spent adapting AMB to lenders’ best practices over the last 30 years has translated into incredible results for all of our customers.”
AMB is a robust accounting system that was specifically designed for mortgage bankers. The solution brings real-time accounting data to users, both accounting and non-accounting staff, in a practical, useable format. Key features include the ability to view loan level data that displays profitability by loan, loan type, loan officer and branch.
MEDIA CONTACT:
Debbie Harris
William Mills Agency
678-781-7220