IRVINE, Calif., Dec. 8, 2008 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced the release of its second generation Commission Calculation Module for its Accounting for Mortgage Bankers (AMB) software.
The enhanced, user-friendly module provides mortgage lenders in both retail and wholesale environments with greater flexibility to define how commissions and bonuses are calculated. The new module takes advantage of the loan-level accounting capability of the AMB software to minimize input and provides a higher level of confidence that commission calculations are correct because the accounting system generally receives greater scrutiny than other systems.
Advantage Systems launched its first Commission Calculation module in 2003 and has consistently enhanced that module to meet the varied needs of its clients. This second generation of the module goes even further by adding the following:
- An algebraic formula approach that enables users to more easily visualize the commission they are calculating.
- An expanded list of fields on which to base commissions. In addition to loan type and product available in the original offering, the module has been expended to include more fields from the borrower record such as lead source, marketing channel and lien position.
- More flexible user profiles that can be shared and modified. For example, short-term sales contest profiles are easy to implement and manage.
- The ability to use different calculation tiers within the same user profile. For example, one tier might be used in the calculation of the commissionable amount while another is used to tally the final commission.
“Five years of deploying and implementing our first generation module at numerous client sites gave us the unique insight we needed to complete the updated Commission Calculation Module,” said Brian Lynch, president of Advantage System. “The menu-based functionality, algebraic style and depth of options available of our Gen2 module satisfy almost any potential calculation, without custom programming, for most wholesale or retail mortgage organizations. The labor savings are significant in companies with complex commission structures.”
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. A Web-based reporting module is also available for branch managers.
CONTACT: Sarah Cannon
Media contact for Advantage Systems