Advantage Systems Launches Enhancements to the Commissions Module of its “Accounting for Mortgage Bankers” Software

AMB | Commission Calculation

IRVINE, Calif., February 10, 2021Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today updates to the Commissions Module of its Accounting for Mortgage Bankers (AMB) software. The company implemented these updates concurrent with emerging industry trends highlighted during the Mortgage Bankers Association’s Accounting and Financial Management Conference.

“Compensation models continue to change in 2021 as firms reward employees for added volume. We updated the Commissions Module, part of our AMB software, providing greater reliability and enhancing its calculation speed – all to reflect the amplified need in the industry and its increased popularity from our users,” said Brian Lynch, President of Advantage Systems.

Advantage Systems recently hosted a virtual chatroom as part of the MBA’s Accounting and Financial Management Conference, where their team met with industry experts across the country, discussing the trends in commission calculations in 2021, including:

1. Overrides and bonuses for operational employees beyond the loan officer are increasingly important. Anywhere from eight-to-15 people get paid based on a loan closing, including processors, closers, underwriters, branch managers, district managers and more.

2. Commissions, bonuses and overrides are often paid on different schedules. For example, commissions may be paid bi-weekly, but overrides may be paid monthly. One person might be paid different types of compensation on different cycles. Firms must be able to pay multiple people varying calculations at multiple times.

3. Calculating draws, including overtime, (which can change month-to-month) to comply with overtime laws and regulations, continues to be a critical compensation function.

“After communicating firsthand with mortgage bankers at the conference, we heard a number of upcoming and continued trends in commissions,” said Joe Ludlow, Vice President of Advantage Systems. “The AMB commission module today provides features to address each of the trends we heard. The most notable is the sheer number of people, in different operational roles, that can be paid on one loan. Flexible bonus and override compensation features in our system will continue to help our clients recruit and retain qualified and talented professionals – the most valuable resource in the industry.”

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
Rachel Smedley William Mills Agency
678-781-7236
rachel@williammills.com

In the Midst of Pandemic, Lower-Than-Ever Rates and Record-Breaking Loan Volumes, Advantage Systems Shifts Strategy to Meet Customers’ Mortgage Accounting Needs

IRVINE, Calif., December 17, 2020Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced its Accounting for Mortgage Bankers (AMB), AMB7 Sierra and ApprovalSoft solutions were pivotal in the success of its clients during the course of a difficult-to-navigate year.

With accounting departments across the nation needing better access to reporting and improved, streamlined ways to telework during the pandemic, Advantage Systems stepped up and provided its software users with real-time, online, easily digestible financial reporting, paperless AP workflow, and integrated commissions and override capabilities.

In fact, according to Laurie Petrich, Controller at Nations Lending in a September release, “We’ve had a huge increase in loan volume and activity – up almost 150 percent – and are thankful to work with a system that continues to grow with our company. Advantage Systems has proven to be a value-added business partner, consistently updating the system with features and functionalities that have saved my team a tremendous amount of time.”

The company’s AP technology was critical to mortgage companies, who needed end-to-end paperless AP workflow. From online invoice coding and approval to electronic disbursement via ACH and other electronic transfers, AMB provided accounting staffs the ability to fully work from home. On the HR side, commission, bonus and override calculation capability became increasingly important. “Some clients pay as many as ten people on one loan, including the LO, processors, LOA’s, managers and more. AMB’s ability to easily calculate commissions, overrides and bonuses, then report as frequently as wanted, has allowed clients to recruit and retain the scarcest resource in the industry – qualified professionals,” said Joe Ludlow, Vice President of Advantage Systems.

“As we head into the new year, we must reflect on this year’s impact on the industry. At Advantage Systems, we are proud to partner with mortgage companies across the nation, providing reliability and consistency to our users through our suite of accounting solutions that enables accounting departments to continue their normal day-to-day operations without massive disruptions,” said Brian Lynch, President of Advantage Systems. “Despite the uncertainty of this year, AMB, AMB7 Sierra and ApprovalSoft have proven essential in helping mortgage companies obtain significant, tangible operational savings and helping employees maintain and increase productivity.”

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.

PROGRESS in Lending Association Names Advantage Systems’ Joe Ludlow A Lending Luminary Award Winner

IRVINE, Calif., Nov. 9, 2020Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that Joe Ludlow, Vice President of Advantage Systems, was named a Lending Luminary Award™ winner by PROGRESS in Lending Association.

This year, the award recognized mortgage bankers, lenders, servicers, technology executives and consultants that have positively impacted the industry during rapidly changing market conditions driven by the impact of the COVID-19 pandemic. Winners were announced as part of PROGRESS in Lending Association’s 10th annual ENGAGE event on Thursday, Oct. 15, 2020.

Recognizing the need for consistent, reliable and industry-specific tools, Advantage Systems designed its technology to support accounting departments at mortgage companies across the nation. With a shift toward more employees working remotely, Advantage Systems’ solutions including AMB, AMB7 Sierra and ApprovalSoft have proven essential in helping employees continue to maintain – and increase – productivity despite their decentralized operations.

“The Lending Luminary awards were created to honor mortgage professionals that are dedicated to paving the way for others and are recognized for their industry vision and leadership,” said Tony Garritano, founder of PROGRESS in Lending Association. “Joe and the Advantage Systems’ team have been real leaders in automating accounting processes and providing better access to financial data for not only the accounting department, but also c-level executives, branch managers and loan officers. Our association believes Joe embodies a true leader and deserves to be recognized for his efforts.”

“It’s an honor to be recognized by the team at PROGRESS in Lending,” said Ludlow. “The industry has changed quickly and significantly this year, and we quickly pivoted our strategy to highlight accounting features that speak directly to the needs of our clients who now find themselves working from home and managing the volume increases of a refinance boom at the same time. Daily process changes such as shifting away from paper checks in favor of electronic invoice approval and disbursement have become essential. As such, we’re proud to provide some level of stability during a time of such uncertainty.”

Additionally, Ludlow served as an expert panelist in this year’s virtual event and discussed how COVID-19 has forced the mortgage process to change throughout this year and what the industry can expect through the remainder of 2020 and beyond. To view PROGRESS in Lending’s ENGAGE event, visit mymortgagemindset.com.

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:
Rachel Smedley
William Mills Agency
678-781-7236
rachel@williammills.com

With Loan Volumes At An All Time High, Nations Lending and SWBC Mortgage Rely on Advantage Systems’ AMBfx Module for Better Financial Reporting

IRVINE, Calif., September 2, 2020 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today that Independence, Ohio-based Nations Lending Corporation and San Antonio, Texas-based SWBC Mortgage Corporation are leveraging the company’s software, including its AMBfx module, to build custom reports and deliver enhanced financial reporting all while working remotely during the pandemic.

“Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders,” according to Forbes. And, with employees working remotely, mortgage companies must lean on technology in a whole new way. With an increase in activity, Advantage Systems’ AMBfx users are able to enhance their reporting during this period of growth.

Advantage Systems’ client Nations Lending has seen significant efficiency gains with the platform. According to Laurie Petrich, Controller at Nations Lending, “We’ve had a huge increase in loan volume and activity – up almost 150 percent – and are thankful to work with a system that continues to grow with our company. Advantage Systems has proven to be a value-added business partner, consistently updating the system with features and functionalities that have saved my team a tremendous amount of time.”

With hundreds of easy-to-use reports already embedded into the AMB system, AMBfx allows users to build custom reports specific to their needs. Data is accessed directly from the AMB database into spreadsheets created by the user, meaning that changes made in AMB are immediately reflected in the customized spreadsheet.

In fact, the AMBfx module allows users to create financial reports leveraging the presentation capabilities of Excel, helping Advantage Systems’ client SWBC Mortgage enhance the presentation when reporting branch activity. Elaine Ratcliff, Vice President of Finance and Operations Controller at SWBC Mortgage, added, “The team at Advantage Systems continually adds new enhancements and security features all while keeping the software user-friendly. The AMBfx module has allowed our team to create custom-built reports for all of our branches – directly pulling in data from AMB to make tracking branch activity easier – significantly cutting down manual processes and helping with our month-end close process.”

Additionally, using AMBfx, reporting packages and board presentations are easily tailored to display the necessary data that supports each specific clients’ individual business strategy and growth plans. Because the reports are created in Excel, the data is easily supported using graphs and can be exported to PowerPoint to make the reports easier to digest for management.

Utilizing AMBfx for board reporting, Nations Lending has been able to cut down on manual processes and move away from generic, templated reports. Petrich explained, “Using AMBfx, we’ve created our entire monthly financial package – a 60-page board report, displaying financial data on all of our branches – all in one Excel spreadsheet. A process that used to take over four hours can now be done by updating the month’s criteria in a click of a button.”

“Although today’s environment remains uncertain, we are happy to provide consistency to our users, enabling their day-to-day operations to continue without major interruption,” said Brian Lynch, President of Advantage Systems. “The AMBfx module enhances Excel’s functions and capabilities, which allows our users to create reports tailored to their team’s needs and to submit impressive reports to management in the shortest time possible. The capability to pull data directly from AMB eliminates the need to manually export and format that data before it can be used, so creating attractive, meaningful reports has never been easier.

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:

Rachel Smedley
William Mills Agency
678-781-7236
rachel@williammills.com