Continually advances its AMB mortgage accounting system

IRVINE, Calif., June 30, 2011 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, marks its 25th year of business with company growth and expansion of its Accounting for Mortgage Bankers (AMB) accounting system.
Having survived numerous industry downturns and regulatory shifts, the company has prospered and even experienced record sales over the past two years. Advantage Systems has achieved this partly by broadening its product line. The Web-based Branch Reporting Module that was developed to help lenders expand branching continues to drive AMB growth and the company recently enhanced its popular Commission Calculation Module to address loan officer compensation changes.

AMB evolved from Advantage Systems’ first accounting product, CONTRACK, a system that addressed the needs of the real estate development industry. In 1991 Advantage Systems leveraged CONTRACK to manage a mortgage banker’s trust accounting in compliance with California law. After meeting this request, Advantage Systems saw an opportunity to expand its accounting solution to the mortgage banking industry and created AMB.

“Since our inception, Advantage Systems has constantly strived to meet the demands of its clients in this ever changing industry,” said Brian Lynch, president of Advantage Systems. “From the initial capability to provide loan level accounting in 1991 to modifying the Commission Calculation Module to meet the requirements of Dodd-Frank, our focus has been on making the lives of our clients easier. After 25 years we feel as if we are hitting our stride and the greatest success is still yet to come.”

Out of its twenty-five years in business, 20 years have been dedicated to the mortgage industry. The company has built a loyal customer base by being the only provider of mortgage-specific accounting technology. This reputation has enabled Advantage Systems to grow through referrals from clients and broaden its reach to larger lenders.

System provides automated loan-level financial reporting

IRVINE, Calif., Sept. 20, 2011 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that Dallas-based ViewPoint Mortgage selected its Accounting for Mortgage Bankers (AMB) system for its mortgage-specific accounting needs.

ViewPoint Mortgage, a subsidiary of ViewPoint Bank, serves the Dallas-Fort Worth, Austin and Houston markets. The lender was in need of an accounting system that was tailored to a mortgage lending environment and selected AMB based on its ability to provide loan-level data such as profit by loan, loan type, loan officer and channel. ViewPoint benefits from the variety of customizable reporting tools that are tightly integrated with its loan origination software, making the import and export of data into the accounting system seamless and more accurate. The lender has also automated compliance with recent loan officer compensation changes through AMB’s Commission Calculation Module.

“Advantage Systems’ AMB product provides more detailed financial reporting than we were able to find with any other system,” said Pam Allan, divisional controller at ViewPoint Mortgage. “With AMB’s automation of processes like reconciliation and commission calculations, instead of focusing time on payroll, we’re able to create reports that enhance our business decisions, as well as spend more time with our borrowers.”

“AMB provides ViewPoint Mortgage with automated, detailed reporting tools necessary to simplify its accounting processes and allow its staff to focus efforts on areas that increase loan volume,” said Brian Lynch, president of Advantage Systems. “As the company’s needs change, we are able to change the way AMB works for them, including compliance areas such as loan officer compensation.”

Module allows loan officers to access real-time loan information

IRVINE, Calif., April 26, 2011 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced the launch of its Loan Officer Reporting Tool as a module within the Accounting for Mortgage Bankers (AMB) accounting system.
The Loan Officer Reporting Tool builds on the capabilities of the Web-based Branch Reporting Module, drilling down further to give loan officers access to real-time loan-level data for each loan they have funded. The module provides each individual loan officer access to reports to help better track performance, including:

• Funded Loan Report – Lists the individual loans funded highlighting key information about each loan as well as the income and expenses incurred.
• Transactions by Loan Number Report – Shows the individual transactions incurred on a loan, including access to images of the related invoices if the AMB imaging function is in place.
• Transactions by General Ledger and Loan Number Report – Displays the loan level detail of all transactions affecting a given GL account within the period requested by the user.
• Commission Report – If the lender is using the AMB Commission module, this report shows the commissions earned on loans funded within a given period.

By providing loan officers with detailed information regarding each of their loans and personal performance, lenders decrease the number of phone calls from branches that must be fielded by the corporate office. In addition, if the lender has implemented the Commission Calculation Module, loan officers are able to determine their commission for each loan with the click of a button.

“Improving lending efficiency is a top priority for branch managers and providing the loan officer with instant, Web-based access to granular information reduces time for the manager, the corporate headquarters and the loan officers themselves,” said Brian Lynch, president of Advantage Systems. “Branching continues to grow as more regulations are implemented and lenders increasingly need technology to automate a significant amount of the data transfer between the corporate headquarters and branches. Loan officers are also seeking the lenders that put the most control in their hands as the look for employment opportunities.”