Accounting system eases financial reporting of branches
IRVINE, Calif., July 26, 2011 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, today announced that Miami-based Home Lending Source has selected its Accounting for Mortgage Bankers (AMB) system to support the lender’s mortgage accounting needs.
Home Lending Source recently began a campaign to expand its geographic footprint through branching by attracting other lending companies and independent brokers. In order to grow, the lender was seeking data driven and transparent back office systems, including an accounting system built to work in a mortgage environment. After several referrals Home Lending Source selected the AMB system for its ability to provide loan-level accounting detail and streamline branch management.
AMB eases the relationship between the Home Lending Source corporate office and its branches by putting operational data in the branch managers’ hands, alleviating the need for multiple phone calls between the branch and home office. This granular data helps the lender identify the most profitable branches, loan types and even best performing loan officers and apply best practices company wide.
“We have tripled loan originations in the past year and grown from 30 loan officers to nearly 200,” said Zubin Nagpal, vice president, Home Lending Source. “Without AMB, we would not be able to effectively manage the reporting of financial data between branches and the corporate office. Our branch managers have the ability to drill-down to the specifics of their financials, including receipt images, and loan officers can log-in and view their performance in real time. AMB is the measuring stick for accounting systems for mortgage companies.”
“AMB has provided Home Lending Source with the tools necessary to expand while creating a transparent environment for its staff,” said Brian Lynch, president of Advantage Systems. “AMB was designed with mortgage lenders in mind and provides detailed reports to allow regional offices, branch mangers and loan officers to effectively monitor their business.”