Advantage Systems’ Joe Ludlow: Breaking Down the Complexity of Vendor Management Across the Branch Network

In this time of low volumes and tight margins, many lenders are scrutinizing expenses more closely and seeking innovative ways to enhance efficiencies and gain greater control over their operations. One area that is ripe for improvement is vendor management – particularly within a mortgage lender’s branch network.

For lenders, effective communication with their branch managers is key. Successful vendor and expense management creates proper detail and documentation that flows through to the branch manager’s online portal, creating self-service research capabilities and instilling confidence in branch managers. The trick is to do it with a better, more comprehensive accounting workflow, while the best of these systems incorporate easy-to-use portals for internal manager expense approval.

Read more at: Mortgage Bankers Association

April 17, 2024

Joe Ludlow of Advantage Systems: What Is Ahead For Mortgage Lending In 2024?

In today’s higher interest rate, lower volume, purchase loan environment, success for lenders often hinges on having “feet on the street,” meaning community-based branch locations with local loan officers familiar with the market and realtors. This is driving an industry trend of more lenders looking to establish localized branch networks to seize specific market opportunities.

Rather than investing in costly corporate-controlled branches, lenders are favoring a more entrepreneurial approach to the branch network model, recruiting experienced loan officers already operating within their target markets and entering into contractual agreements with them to operate a branch location under the lender’s brand.

Read more at: Progress in Lending Association

January 1, 2024

Joe Ludlow of Advantage Systems: The Power Of Bank Branches With Loan Officers

“Branches now are becoming more important. Loan officers are becoming more important,” Ludlow said. “I think the trend in the market in the next few years will be the formation of more branches.”

Advantage Systems is a provider of accounting and financial management tools for the mortgage industry. They work with banks, credit unions, independent mortgage companies, and wholesale lenders.

Last month, the company announced a new feature that offers enhanced reporting capabilities to deliver greater levels of transparency and a better analysis of the contribution each branch is making to the overall company.

Read more at: The Mortgage Note

December 19, 2023

2023 MBA AFM Conference

Advantage Systems attended the MBA AFM Conference in New Orleans, LA from November 15 – 17, 2023.

Advantage Systems Enhances AMB Sierra with Full Branch Impact Capabilities, Gives Executives Deeper View into Individual Branch Performance

IRVINE, Calif., November 17, 2023 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today the availability of its new Full Branch Impact feature as part of the recently enhanced AMB Sierra platform.

For mortgage professionals tasked with overseeing a lender’s branch network, simply viewing an income statement for a specific branch does not provide a comprehensive understanding of its true performance. The complexity arises from the fact that certain components of income generated by a branch might be allocated to entirely different cost centers, such as corporate or secondary marketing. To obtain a holistic view of a branch’s performance, executives must scrutinize not only the income accrued at the loan level from loans originating at that branch, but also additional operating expenses, including payroll and rent, among others.

AMB Sierra’s Full Branch Impact feature offers enhanced reporting capabilities to deliver greater levels of transparency and a better analysis of the contribution each branch is making to the overall company. All of this is done in real time within a controlled environment, ensuring that those reading these reports only see the activity for those branches to which they have been granted access. Regional managers only see the activity for the branches they manage, while C-suite executives running the same report see the full impact of loans originated by a branch or group of branches.

“With access to granular, loan-level insights, lenders can develop a comprehensive view of income allocation and branch performance, paving the way for more data-driven decisions to optimize operations and improve profitability,” said Brian Lynch, president of Advantage Systems. “AMB Sierra’s Full Branch Impact feature transcends traditional reporting constraints, ultimately empowering mortgage lenders to better manage their branches, enhance corporate’s financial performance and adapt to changing market conditions with confidence.”

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

Joe Ludlow of Advantage Systems: Real World Applications for Real-Time Data, A Branch Manager’s Perspective

When it comes to the loan application process, lenders have been riding the real-time data wave for quite a while. With the ability to quickly verify borrower income and employment, paired with up-to-the-minute updates on appraisal, flood and title services, time-to-close is a fraction of what it used to be.

The challenge for many lenders today is actually one of “data overload” as they work to convert “available” data into “actionable” data. Some are finding success, however, and modern lenders like MortgageRight are effectively leveraging real-time data within their day-to-day operations to gain loan-level detail across their entire branch network, supporting loan production as well as recruiting and branch network expansion initiatives.

MBA NewsLink interviewed MortgageRight Director of Strategic Growth and Branch Manager Mike Russo and Advantage Systems Vice President Joe Ludlow.

Read more at: Mortgage Bankers Association

September 25, 2023

Joe Ludlow of Advantage Systems: For Lenders, Data Visualization Holds The Key To Maximizing The Value of Real-Time Data

Lenders have, for a while now, embraced the use of real-time data in the loan application and origination process. Notably, through verification of income and employment when evaluating borrowers or real-time updates to appraisal, flood and title services, time-to-close has been streamlined significantly. Lenders are increasingly making use of real-time, loan-level data within operations to monitor production more accurately within their branch networks.

Having systems in place with real-time data capabilities is just the first step, however. The challenge that many lenders are struggling with now is one of “data overload.” Like the proverbial example of “drinking from a firehose,” the sheer amount of data available is making it difficult for staff to parse, evaluate and execute when faced with continuously updating, real-time data sets.

Read more on: Progress in Lending Association

June 29, 2023

Branch Out to Profitability: How AMB 7 Sierra’s Branch Reporting Feature Can Help Lenders Stay Ahead in a Changing Market

AMB | The Role of Enhanced Branch Reporting

As we navigate the current economic climate, it's more important than ever for mortgage lenders to streamline their operations and maximize profitability. One way to achieve this is by utilizing the Branch Reporting feature on our AMB 7 Sierra software. This powerful tool provides lenders with detailed insights into loan volumes, margins, profits, and expenses for each branch within their network.

But why is this level of reporting so crucial? In a market with margin compression and increased competition, lenders need to evaluate the true profitability of each branch to make informed decisions about staffing, expenses, and compensation. With the ability to drill down to income and commission basis points on any group of loans, lenders can identify areas where they can cut costs and improve efficiency.

At Advantage Systems, Inc (ASI), we understand that the mortgage industry is rapidly evolving.

That's why we've developed AMB 7 Sierra to be cloud friendly and more easily accessed by remote users. The modern dashboard and customizable reports provide unparalleled access to your data. The result? A streamlined and more profitable organization.

Here are some of the key benefits of the Branch Reporting feature on AMB 7 Sierra:

  • Faster reporting: Automated reporting capabilities provide lenders with real-time insights into loan volumes, margins, profits, and expenses for each branch within their network. This allows for more informed decision-making and improved efficiency.
  • Enhanced visibility: With the ability to drill down to income and expenses on any group of loans, lenders gain greater insight into their organization's profitability. This can positively impact employee retention and recruitment efforts.
  • Revamped Data Control: Each branch has a unique view of the data, with access controlled for each user. Executives have access to all branch data. All users can customize their dashboards.
  • Improved profitability: With greater insight into loan volumes, margins, and profits, lenders can identify areas where they can cut costs and improve efficiency. This can lead to greater consistency and profitability across branch networks.

As we continue to navigate these uncertain times, it's crucial for lenders to take a proactive approach to streamlining their operations and maximizing profitability. By utilizing the Branch Reporting feature on AMB 7 Sierra, lenders can gain real-time insights into their organization's profitability, reduce human error and delays, and improve efficiency.

Thank you for choosing Advantage Systems, Inc (ASI) as your trusted partner in the mortgage industry. We look forward to continuing to support your success.