BPO feature enables loan-level comparison with appraisal values over time
IRVINE, Calif., Aug. 11, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, today announced the addition of a Broker Price Opinion (BPO) tracking feature to its Accounting for Mortgage Bankers (AMB) system.
In response to client needs, Advantage Systems developed a BPO tracking capability to enable mortgage lenders to record BPO values on individual loans throughout the life of the property. With this tool, lenders can incorporate the most recent BPO price into reports using the Borrower Table, while keeping a record of all previous BPO amounts.
“Those lenders handling REO properties have found the Broker Price Opinion to be an integral tool in the management of their business,” said Brian Lynch, president of Advantage Systems. “By incorporating a BPO tracking tool into AMB, we enable our clients to leverage the insight, time savings and cost-effectiveness of BPOs and easily compare the current value to the client’s investment in each property. Our goal at Advantage Systems is to give our AMB clients the tools they need to manage and grow their business without increasing costs.”
AMB is an accounting system that was specifically designed for mortgage bankers to provide loan-level detail of accounting transactions. The system provides general ledger, accounts payable and report writing capabilities. A Web-based branch reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides.
CONTACT: Bevin Rochester
Media contact for Advantage Systems