-Integration enables lenders to maintain mortgage accounting records seamlessly and with greater accuracy-

 IRVINE, California – April 3, 2016 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, and LendingQB, a provider of loan origination technology solutions, announced today the completion of an integration that enables mortgage lenders to seamlessly transfer loan-level accounting data from the LendingQB LOS to the AMB (Accounting for Mortgage Bankers) platform.

“Most of the integrations we have done involve an LOS system pushing data to us. The integration between Advantage Systems and LendingQB allows us to reach in and get the information we need,” said Brian Lynch, president of Advantage Systems. “This tool allows us to minimize implementation costs to our clients and gives them the flexibility to make changes when needed.”

LendingQB’s open architecture API (application protocol interface) allowed Advantage Systems to quickly build a first-phase integration.

“We specifically built our API to provide a simple, but secure method for outside companies to access virtually any field in a loan file,” noted LendingQB president Binh Dang. “Our API is ideal because all lenders perform their accounting and reporting in a slightly different way. It has built-in flexibility and extensibility to allow AMB and the lender to customize the data they want to access.”

A benefit of the integration is that it encourages lenders to perform accounting functions on a more frequent basis. This reduces the work level at month-end and improves completeness of data. When transactions and reconciliations are recorded on a daily basis, there is much less to do at month end and peak periods of activity are kept to a minimum. “Lenders have to staff for peaks, not valleys,” said Lynch.

“This approach eliminates the veritable avalanche of data at month’s end that needs to be reconciled,” Lynch noted.  “The books are closed more quickly, and because reconciliations are done more often, there is a higher degree of confidence in those financials. We believe the integration with LendingQB allows lenders to perform better accounting with less staff.”

LendingQB noted that the integration with AMB is an extension of their ‘Lean Lending’ solution strategy, which promotes operational efficiency through the implementation of best practices and partnering with best of breed industry providers. “We want to provide lenders with technology solutions that do more than just exchange data with any third party company,” said Dang. “Advantage Systems is an innovator and respected provider of accounting solutions for mortgage lenders. We are proud to be the first LOS to partner with them to create a solution that helps our clients work smarter.”

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com

– Enables mortgage lenders to manage payroll draws and loan officer teams compensation more effectively –

 IRVINE, Calif., March 31, 2016 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announces two updates to its Commissions Calculations Module. The new “Draw Recovery” feature saves lenders time by automating the application of payroll draws against the loan officers’ commissions and providing a recap on how this was done. Additionally, Advantage Systems has provided the capability to distribute split commissions more effectively among teams of loan officers.

These new features are designed to leverage the benefits of automation into a way to help lenders strengthen relationships with experienced loan officers. The capability to define “Draws” and the application of those draws has existed for some time but relied heavily on manual processes. The new capability automates the application of the draw, making the process easier and the result timelier. Not only is time saved, but so is the relationship with the loan officer. Being able to present the loan officer with a recap of what draws were earned and what commissions were applied against those earnings demonstrates the lender’s commitment to that loan officer.

The need to pay loan officers an hourly wage has created the need to manage those payments against the commissions earned. Many lenders have struggled enough with the calculation of those commissions. Applying draws earned against those commission only made the task that much more difficult. Advantage Systems’ commission module eliminates the difficulty and allows users to calculate commissions quickly and easily and the related application of draws.

The new teams feature of the update to the Commissions Calculations module enables lenders to define teams of loan officers. Commission splits are calculated based on pre-defined relationships between loan officers, even if each loan officer on the team has a different compensation arrangement with the lender. This feature results in easily split commissions, accurately calculated, which saves lenders time and ensures fair commissions among loan officers.

“The updates to our Commissions Calculations Module are focused on providing an extra layer of transparency to loan officers,” said Brian Lynch, president of Advantage Systems. “Maintaining positive relationships with talented loan officers is a high priority to many lenders, and having the flexibility to deal with draw balances more effectively and calculating accurate commissions for teams of loan officers enables lenders to strengthen those relationships, while saving valuable time by avoiding complex manual calculations.”

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com

– The 100 most innovative technology companies in the housing economy-

 IRVINE, Calif., March 23, 2016 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announces it has been included for a second year in the 2016 HW TECH100™ list, which recognizes the 100 most innovative technology companies serving the mortgage, finance and real estate industries.

More companies applied to be considered for the listing than in any previous year. Advantage Systems’s second straight inclusion highlights the company’s significant market influence and continued growth. HousingWire evaluated hundreds of companies for this year’s awards in six different categories: market influence, market potential, uniqueness of solution, growth, elegance of implementation, and “something else entirely”—a catch-all for disruption and other factors that drive innovation.

“The companies in the HW TECH100™ are providing innovative solutions to the traditionally hide-bound mortgage finance industry,” said HousingWire editor-in-chief Jacob Gaffney. “In the face of rising costs to originate and service loans, a still-volatile housing market and multiplying regulations, these innovations are crucial to the survival and profitability of those in our industry.”

“It’s incredible to see the universe of tech options now available to our industry,” said HousingWire Magazine editor Sarah Wheeler. “Some of the best and brightest minds are clearly working in our space to address the extraordinary challenges our industry is facing.”

“For the past 30 years, we have continually enhanced our AMB  product, relying on user feedback, to create solutions for the challenges faced by the mortgage industry,” said Brian Lynch, president of Advantage Systems. “We are honored to be named for a second year on this prestigious listing of innovative technology companies.”

More information about the 2016 HW TECH100™ is available at: http://www.housingwire.com/tech100.

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com

– Mortgage lender eliminates manual processes through accounting technology-

IRVINE, Calif., Feb. 2, 2015 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announces that Brentwood, Tennessee-based Churchill Mortgage, a leader in the mortgage industry providing conventional, FHA, VA and USDA residential mortgages across 33 states, has used its AMB (Accounting for Mortgage Bankers) solution to achieve higher loan volumes without having to hire additional staff by eliminating time-consuming manual processes through automation.

Churchill Mortgage selected AMB as its accounting system in early 2014 after deciding it needed a simpler process to handle the workload required to produce detailed financial reports measuring the profitability of its branches. At this time, Churchill Mortgage was using a generic solution that was not designed specifically for mortgage lenders and relied heavily on manual processes to create in-depth reports.

Implementation went smoothly since AMB was fully compatible with the lender’s LOS, Encompass, and the solution was deployed faster than expected. Using the new solution, Churchill Mortgage’s executives were able to produce and view detailed analysis reports measuring branch performance and evaluate the profitability of each loan using AMB’s loan level reporting capabilities.This transformed the lender’s accounting system into a strategic tool that was used to more effectively evaluate the profitability of each branch and allocate resources where they were most needed to increase the volume of loans being originated. Despite the increase in loan volume, however, Churchill Mortgage was able to keep its costs down and avoid having to hire additional staff because of the solution’s automation.

“AMB has saved us valuable time through its integration with our LOS,” said Matt Clarke, COO of Churchill Mortgage. “The system is valuable because of the way it enables us to speed up the way we originate loans and focus more attention on increasing loan volumes without increasing labor costs.”

“Our AMB solution has been built specifically to meet the needs of mortgage lenders,” said Brian Lynch, president of Advantage Systems. “AMB is continually updated based on feedback from our users, making it more practical and efficient in achieving a ROI.”

AMB is a robust accounting system that was specifically designed for mortgage bankers. The solution brings real-time accounting data to users, both accounting and non-accounting staff, in a practical, useable format. Key features include the ability to view loan level data that displays profitability by loan, loan type, loan officer and branch.

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com

– Adds 27 new mortgage lenders as customers in 2015 –

IRVINE, Calif., Jan. 26, 2016 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, experienced significant growth in 2015, with approximately 300 mortgage lenders using its Accounting for Mortgage Bankers (AMB) product, and more than 100 mortgage lenders using its Commissions Calculator product.

In 2015, Advantage Systems achieved several major milestones. These included:

• Signing up 27 new customers for its AMB product, bringing the total to approximately 300 lenders.
• Also signing up 16 new customers for Advantage Systems’ Commissions Calculator product. This product is now used by more than 100 mortgage lenders.
• Expanding its team by hiring two new staff members: Russ Suter, as software developer, and Drew Foy, as a customer support representative.
• Holding its first annual user conference in June 2015 at the Island Hotel, Newport Beach, Calif. The first conference had 125 attendees. Its second user conference will be held at the same location this year on June 16-17.
• Being named a winner of the HW Tech 100 award due to its continuing innovation and market influence over the years.

One of the factors leading to Advantage Systems’ growth is the level of functionality the AMB product affords its users. Advantage Systems has achieved its success by continually enhancing its systems to meet the needs of mortgage lenders based on user feedback.

“Our success over the last 30 years has been our constant focus on providing a system which changes with the times to meet mortgage lenders’ evolving needs,” said Brian Lynch, president of Advantage Systems. “This past year we made numerous additions to the Advantage Systems community and look forward to continuing growth in 2016.”

 AMB is a robust accounting system that was specifically designed for mortgage bankers. The solution brings real-time accounting data to users in a practical, useable format. Key features include the ability to view loan level data that displays profitability by loan, loan type, loan officer and branch.

Commissions Calculator reduces the labor required by allowing users to calculate commissions, commission adjustments, bonuses and “Overrides” quickly and easily. Commission “Profiles” define the commission compensation plan as approved by management. These are easily assigned to one or more loan officers.

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com

IRVINE, Calif., December 15, 2015 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announces it has hired Russ Suter as its newest software developer.

In his new role, Suter joins the Accounting for Mortgage Bankers (AMB) 7 development team. AMB 7 is the new version of AMB, optimized for browser environments. An industry veteran, Suter brings more than 20 years of experience in software development and information technology to Advantage Systems. Suter has extensive experience and knowledge with MS SQL Database products. He is an experienced developer of both back end and front end applications, especially web based applications. An experienced team leader, Suter provides another management resource for development task forces.

“Russ’ advanced knowledge of CSharp, as well as his extensive experience with developing commercial-level encryption makes him a perfect fit for the AMB 7 development team,” said Frank Paladino, Director of Software Development for Advantage Systems.  “We were thrilled to lure him away from the bankcard industry”.

Most recently, Suter served as the Senior Software Developer at Torrance, California-based Global Electronic Technology, Inc, where he designed and implemented custom software and ensured the security of sensitive data. Prior to that, Suter was Senior Software Developer at Fountain Valley, California-based Atlantic-Pacific Processing Systems, Inc.

Suter also previously worked for Irvine, California-based Orthodyne Electronics as an IT manager and co-founded MyNetMedia.com, which involved designing application prototypes and establishing strategic technical partnerships. Additionally, Suter is a Microsoft Certified Professional and a Microsoft Certified Solution Developer, attesting to his technical expertise.

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com

IRVINE, Calif., Nov. 03, 2015 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, names Drew Foy as its newest customer support representative.

Foy joins Advantage Systems with 22 years of experience in the housing industry and accounting software support and implementation. Foy provides Advantage Systems’ customers with routine software support and helps maintain individual lenders’ AMB, ApprovalSoft and Commissions Calculator systems.

Foy has several years of experience supporting MAS 90 and MAS 200 accounting software, notably at Sage Software and at Blytheco, a major reseller of accounting software.  Additionally, Foy has years of experience supporting Crystal Reports and Acuity Financials. Most recently, Foy held the position of corporate controller for Santa Ana-based Management Support, where he prepared financial reports, Housing and Urban Development (HUD) reports and managed the accounting software database.

Foy previously served as the accounting and finance manager for Pacoima, California-based New Roads, Inc. Prior to this, Foy held various accounting and finance related positions at Santa Fe-based JP Marketing Services and other accounting software companies.

Foy earned a Master’s in Business Administration from California Polytechnic University, Pomona. He also holds a certification from University of California, Irvine in Information Technology, with an emphasis in Advanced Software Design and a BA from University of California, San Diego.

“At Advantage Systems, we depend on the most talented industry professionals to increase the level of service provided to our customers,” said Brian Lynch, president of Advantage Systems. “Drew’s extensive background in accounting software and familiarity with the housing industry will enable him to provide high quality support for our customers.”

MEDIA CONTACT:

Debbie Harris

William Mills Agency

678-781-7220

deborah@williammills.com