Accounting solution supports lender’s loan volume growth, automates accounting processes and increases efficiency
IRVINE, Calif., Feb. 19, 2013 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that Atlanta-based lender, Equity Loans LLC, utilized its Accounting for Mortgage Bankers (AMB) system to support the company’s 300 percent increase in loan volume during 2011 – 2012.
As a rapidly growing mortgage company, Equity Loans needed an accounting system that could manage large volumes of loan data and also provide the ability to customize financial reports to fit the unique accounting needs of the institution. In January of 2011, Equity Loans chose Advantage Systems’ AMB system, an accounting system designed specifically for the mortgage industry. Since launching the solution, Equity Loans grew its loan volumes and increased the quality of its financial data as well as its back office efficiencies. Access to more detailed financial data has led to the ability to evaluate loan and branch profitability in real-time.
“AMB’s system enables us to provide our branch managers with the financial information they need to do their jobs more efficiently and gives us the accounting tools we need to manage a multi-branch system,” said Walter Werchanowskyj, EVP of finance at Equity Loans.
“Lenders that want to build profitability need to remain focused on growth, which demands accounting processes be fully automated or companies risk impeding that growth,” said Brian Lynch, president of Advantage Systems. “Equity Loans’ executive team has done an excellent job of growing their business and having the right accounting system helped.”