Advantage Systems Announces Expense Management Branch Income Feature Within AMB Sierra; Accelerates Speed of Reporting for Mortgage Lenders

Advantage Systems Announces Expense Management Branch Income

IRVINE, Calif., Oct. 24, 2022 – In the current purchase market, where access to faster reporting is imperative to lenders’ branch profitability, Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today the availability of its new Expense Management Branch income feature as part of the recently enhanced AMB Sierra platform.

The term “expense management branch” refers to those in which the branch manager also originates loans, and due to the Dodd-Frank Act, cannot be compensated based on a term or condition of the loan. These regulations require that branch income must be based on loan volume, yet most accounting or ERP systems are incapable of managing the rates per branch, or the loan volume to provide this vital reporting to each branch.

The capability to manage the rate of income applied to a branch’s loan volume is an integral component of the AMB system. The recently enhanced AMB Sierra platform allows management to incorporate these values into an income statement that can be easily accessed by branch managers, regional managers, and C-level executives, as well as the accounting and financial management personnel within the firm. This new capability equips branch managers to view their income at any time, while also allowing management to bring best-of-breed reporting to those who need it while eliminating the need for custom programming and third-party reporting products.

AMB Sierra’s Expense Management Branch income feature provides mortgage lenders with greater levels of transparency to more quickly and accurately calculate individual branch liability balances, ensuring that branch managers have confidence in the balances calculated on their behalf. From a corporate accounting standpoint, this provides meaningful operational efficiencies and improved reporting capabilities, while ensuring consistency across the branch network.

“Mortgage lenders value efficiency and precision, and must invest thoughtfully in technology and resources that support their branch teams,” said Brian Lynch, president of Advantage Systems. “With AMB Sierra’s capability to provide financial reporting to expense management branches, mortgage lenders are able to satisfy existing branch managers and attract others.”

About Advantage Systems
Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spreadsheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.

MEDIA CONTACT:
Augusta Bauknight
William Mills Agency
678-781-7214
augusta@williammills.com

Joe Ludlow of Advantage Systems: The Role of Enhanced Branch Reporting in a Purchase Market

AMB | The Role of Enhanced Branch Reporting

“The key to lowering existing operational costs to efficiently manage “the spend” lies in equipping lenders with access to faster reporting, including detailed insight into loan volumes or margins and profits, for each branch within their network. Automated reporting capabilities not only set up lenders to move loans more quickly and efficiently through the origination pipeline to closing, but as the lender closes more volume, it also elicits potential for greater savings through the evaluation of each invoice.”

Read more on MortgageOrb

September 14, 2022

Joe Ludlow of Advantage Systems: Better Vendor Management Can Provide Immediate Results

AMB | Progress in Lending Association

“As lenders carefully evaluate their personnel and operating expenses, one area of focus that should be included is expense control. Too often, both loan and non-loan expense approval and reconciliation is managed through a labor-intensive, error-prone, manual set of processes. Particularly during high volume periods like the industry has seen over the past few years, the focus is understandably on moving loans through the origination pipeline to closing. As a result, it is virtually impossible for lenders to review all of their vendors and invoices.”

Read more on Progress in Lending Association.

August 25, 2022

Joe Ludlow of Advantage Systems: The Importance of Tracking Every Dime in a Rising-Rate, Recessionary Mortgage Market

Joe Ludlow of Advantage Systems: The Importance of Tracking Every Dime in a Rising-Rate, Recessionary Mortgage Market July 21, 2022

“Mortgage lending has always been a volume game. Traditionally, narrow profit margins have made it necessary for lenders to originate as much as they can at the lowest cost in order to stay profitable — a task that is aided when loan volume is easy to capture. If volumes are large enough, lenders can still make money even if their cost to originate is high. The reality is that most lenders will see their volumes drop regardless of what they do, so they are also looking for additional strategies for staying profitable; one place to affect meaningful change is in lowering existing operational costs.”

Read more on MBA NewsLink. 

July 21, 2022

2022 AMB User Conference

Advantage Systems provided two full days of training and workshops at the Balboa Bay Resort, where they discussed the latest AMB 7 Sierra updates.

AMB 7 Sierra is ideal for remote workers because it is fully browser-based and cloud friendly. The AMB 7 Sierra dashboard and reporting platforms provide unparalleled access to your data. The extensive capability to drill down, up and through the data gives managers at all levels a great view of their operation.

The AMB User Conference was the perfect setting to learn about the exceptional control environment and how software-based controls are applied to every transaction, making AMB 7 Sierra even easier to use!

2022 Conference Agenda

Download our Agenda!

Advantage Systems Announces Speakers and Session Details for AMB User Conference

Advantage Systems Announces Speakers and Session Details for AMB User Conference

Speakers from Richie May, Access Business Technologies to discuss cloud implementation, exit strategies in AMB-controlled environment

IRVINE, Calif., June 20, 2022 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced its speakers and session details for its sixth annual user conference, scheduled for June 23-24 in Newport Beach, Calif.

Of note from the two-day event, highlights to include:

  • Jennifer Cramer and Rosie Marlier of Richie May will host a breakout session to discuss break-even analysis, including budgeting and forecasts 

  • Drew Foy and Alyssa Canaan of Accounting for Mortgage Bankers (AMB) to discuss implementation of excel add-in AMBfx Exchange

  • Chris Hughes and Daniel Lee of Moss Adams to lead a session covering exit strategies, going public and the required accounting controls within the AMB environment

  • Justin Kirsch and Robert Madsen of Access Business Technologies, plus Frank Paladino, AMB, to host the general session discussing steps to implementing a cloud strategy for AMB 

Additionally, the user conference will showcase the recently completed, AMB 7 Sierra, a browser-based version of the popular AMB software that provides state-of-the-art dashboard presentation and reporting capabilities with quick access for both branch managers and C-level executives. 

“The conference is not only an opportunity to connect with our users, but also a chance to demonstrate the recent enhancements within AMB’s mortgage accounting software while receiving valuable feedback from our customers,” said Brian Lynch, president of Advantage Systems. “We look forward to connecting with our users at this year’s conference and furthering their understanding of how AMB 7 Sierra can supercharge mortgage accounting operations.”

Attendees are also invited to attend a harbor cruise with dinner on June 23. For more information on the AMB 6th annual user conference, view the agenda here.

About Advantage Systems 

Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.

Media Contact:
Augusta Bauknight
William Mills Agency
678-781-7214
augusta@williammills.com 

Advantage Systems Announces Dates, Topic Tracks for Upcoming User Conference

AMB-User-conference-2022

Two-day event includes sessions on budgeting analysis, payment alternatives, exit strategies

IRVINE, Calif., May 10, 2022 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that its sixth annual user conference is scheduled to be held at the Balboa Bay Resort in Newport Beach, Calif. on June 23-24. Advantage Systems is carefully monitoring CDC reports and updates and is hopeful that COVID-19 conditions will continue to improve leading up to the planned in-person event.
Highlighted at this year’s conference will be AMB 7 Sierra, a browser-based version of the popular AMB software that provides state-of-the-art dashboard presentation and reporting capabilities with quick access for branch managers and C-level executives alike.

In addition to showcasing AMB 7 Sierra, the conference will be an opportunity for Advantage Systems’ customers to connect, collaborate, and learn valuable strategic information to help them succeed in an increasingly digital, decentralized, modern mortgage industry. Advantage Systems personnel and industry guest speakers will lead workshops and training sessions on the following, among other topics:

  • Budgeting and Break-Even Analysis
  • Payment Alternatives – ACH, single use credit cards, MBFRF, multi-account reconciliation and the funded loan report
  • How AMB can support lenders’ exit strategies
  • Commissions
  • Financial Reporting

“Our user conference is an excellent opportunity to demonstrate the improved features of our mortgage accounting software while allowing our customers to provide valuable feedback,” said Brian Lynch, president of Advantage Systems. “This year, the AMB User conference emphasizes user input. The conference will allow our users to come together to discuss topics with their peers in the industry, and we will use this insight to further guide future AMB development.”

Attendees are also invited to join a harbor cruise with dinner on June 23. For more information on the AMB 6th annual user conference, view the agenda here.

About Advantage Systems 

Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.

Media Contact:
Augusta Bauknight
William Mills Agency
678-781-7214
augusta@williammills.com 

Brian Lynch of Advantage Systems: The Mortgage Industry Has a Talent Problem That Demands Operational Change To Overcome

AMB-Cloud-based-solution

“Prior to 2020, the mortgage industry was facing a serious staffing problem. The pandemic in 2020 continued this problem as both young and experienced mortgage professionals rapidly left the industry. The efforts of the pandemic changed employees’ expected environment and flexibility, which forced lenders to reconsider how they were currently managing their business. The solution to their problem was a Cloud-based platform that gave staff flexibility and easy data access.”

Read more on MBA NewsLink

April 27, 2022

MBA Technology Solutions Conference & Expo 2022

MBA Tech Conference 2022

AMB attended the MBA Technology Solutions Conference & Expo in Las Vegas, Nevada. where they discussed the latest AMB 7 Sierra updates.

AMB 7 Sierra is ideal for remote workers because It is fully browser-based and cloud friendly. The AMB 7 Sierra dashboard and reporting platforms provide unparalleled access to your data. The extensive capability to drill down, up and through the data gives managers at all levels a great view of their operation.

LoanSnap Taps Advantage Systems To Automate Accounting Workflows; Fully Implemented Within 60 Days

LoanSnap Taps Advantage Systems To Automate Accounting Workflows; Fully Implemented Within 60 Days

Irvine, Calif., March 9, 2022Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that California-based LoanSnap Inc, has selected implemented its mortgage accounting automation solution, Accounting for Mortgage Bankers (AMB), including the AMB Sierra dashboard and reporting capabilities for both branch users and executives.

LoanSnap has been growing rapidly and needed a scalable accounting system that could keep pace with its growth. Following a rapid implementation period of only 52 days, LoanSnap is better positioned to gain more meaningful operational efficiencies through greater levels of automation, including a real-time environment for its staff to quickly and easily calculate loan officer commissions; view loan-level detail; and generate internal, as well as external, reports.

“When growing at our pace, you need a system that is going to easily pass audits and scrutiny and provide you with the data and reporting you need to make decisions to support the business,” said Carol Mathis, Director of Finance and Accounting at LoanSnap. “AMB Sierra provides us with a nice, clean audit trail, allowing us to meet these standards with little customization needed. This was our first time working with Advantage Systems and utilizing their online implementation checklist made the process straightforward and easy.”

“LoanSnap has built a reputation on providing the highest quality of service to its customers. This swift application of our products and services in less than 60 days proves their team has the people power and vision to expertly install and utilize fintech” said Brian Lynch, president of Advantage Systems. “As an innovative, modern lender, LoanSnap is equally committed to ensuring that its own internal staff have access to the latest, best technology tools. I am proud of the hard work of our teams who accelerated implementation without sacrificing functionality or attention to detail.”

About Advantage Systems
Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.

Media Contact:
David Savini
William Mills Agency
678-781-7203
davids@williammills.com