Continually advances its AMB mortgage accounting system
IRVINE, Calif., June 30, 2011 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, marks its 25th year of business with company growth and expansion of its Accounting for Mortgage Bankers (AMB) accounting system.
Having survived numerous industry downturns and regulatory shifts, the company has prospered and even experienced record sales over the past two years. Advantage Systems has achieved this partly by broadening its product line. The Web-based Branch Reporting Module that was developed to help lenders expand branching continues to drive AMB growth and the company recently enhanced its popular Commission Calculation Module to address loan officer compensation changes.
AMB evolved from Advantage Systems’ first accounting product, CONTRACK, a system that addressed the needs of the real estate development industry. In 1991 Advantage Systems leveraged CONTRACK to manage a mortgage banker’s trust accounting in compliance with California law. After meeting this request, Advantage Systems saw an opportunity to expand its accounting solution to the mortgage banking industry and created AMB.
“Since our inception, Advantage Systems has constantly strived to meet the demands of its clients in this ever changing industry,” said Brian Lynch, president of Advantage Systems. “From the initial capability to provide loan level accounting in 1991 to modifying the Commission Calculation Module to meet the requirements of Dodd-Frank, our focus has been on making the lives of our clients easier. After 25 years we feel as if we are hitting our stride and the greatest success is still yet to come.”
Out of its twenty-five years in business, 20 years have been dedicated to the mortgage industry. The company has built a loyal customer base by being the only provider of mortgage-specific accounting technology. This reputation has enabled Advantage Systems to grow through referrals from clients and broaden its reach to larger lenders.