Advantage Systems’ Loan Officer Reporting Tool Gives Loan Officers Access to Performance Data

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.”

Advantage Systems Develops ACH Feature in Accounting for Mortgage Bankers (AMB) System

Automated Clearing House function cuts transaction costs for lenders

ATLANTA, Oct. 25, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, today announced at MBA’s 97th Convention and Expo that it has added an Automated Clearing House (ACH) processing function to its Accounting for Mortgage Bankers (AMB) system. AMB is an accounting system that was specifically designed for mortgage bankers to provide loan-level detail of accounting transactions.

The ACH application was created in response to the growing use of electronic payments. With the feature, lenders are able to cut costs by eliminating check processing and postage fees. The payment file created by the system is generated in the National Automated Clearing House Association (NACHA) format. As such, the file can be read by any bank supporting the NACHA format. Dallas, Texas-based PrimeLending, a PlainsCapital Company, is Advantage Systems’ first customer leveraging the application.

“The ACH function works very effectively for PrimeLending,” said Diane Hallford, controller at PrimeLending. “It has streamlined our processes, cut labor costs, and enabled us to pay vendors more timely and efficiently.”

“Lenders are seeking ways to decrease expenses in all areas of business, even in how they pay bills,” said Brian Lynch, president of Advantage Systems. “In speaking with customers, we found that some were spending significant amounts mailing thousands of checks each month. With the ACH application, they can easily send electronic payments and maintain security for all parties involved. We build each addition to AMB with our customers in mind, taking steps to increase their business efficiency and making accounting, which affects all portions of the company, as simple as possible.”

The AMB 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
678-781-7215

Accounting System May Aid Growing Firms

Brian Lynch featured in Origination News article by Bonnie Sinnock April 2010

In this article, Brian Lynch discusses the dramatic increase in net branching among mortgage brokers and how the institutions growing through branches can best manage the change. Lynch addresses the need for loan-level accounting and simple access to branch statistics for each branch manager. In addition, branchss statistics can be compared in order to analyze the operations of each one compared to its counterparts.

To read the entire article, please refer to the April print edition of Origination News.

In This Corner: Advantage Systems President Brian Lynch on the Lookout for Warehouse Lending

Brian Lynch featured in Housing Wire article by Jon Prior Feb. 18, 2010 Brian Lynch is the founder and president of California -based Advantage Systems, a provider of accounting and contract management tools for the mortgage banking and real estate development industries. With more than 30 years of experience in the accounting industry, Lynch founded Advantage Systems in 1986 and changed the companyys focus to the mortgage industry in 1991 with the creation of Accounting for Mortgage Bankers (AMB), an accounting system tailored to the loan-level metrics needs of mortgage bankers. He sat down with HousingWire to let you know how originators are going to survive the warehouse-lending drought.

Read the full article on Housing Wire

Loan Zone: Accounting Makes a Difference

July 28, 2009 Credit unions seem to be the go-to place for consumers looking for mortgage loans or refinance options. As credit unions gear up to meet the current and future demand for mortgages, they need to have the proper accounting processes in place to track all the debits and credits associated with each loan. Doing so will streamline the mortgage accounting process and make it easier for staff to handle and to create a better lending experience for members.

Read the full article on Credit Union Management

Looking to Boost Lending? Start by Looking at Key Ratios

Brian Lynch featured in Credit Union Journal article by Ray Birch April 6, 2009 IRVINE, Calif. To improve loan department efficiency, the credit union needs to examine ratios showing net income per loan and net income per loan officer. Those metrics provide the data that allows management to make sound staffing decision and streamline loan operations, suggested Brian Lynch, president of Advantage Systems here. You need that kind of granularity..

Read the full article on Credit Union Journal

Cornerstone Mortgage Selects Advantage Systems’ Accounting for Mortgage Bankers

 Accounting system shortens time-intensive processes, streamlines audit

IRVINE, Calif., June 7, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, today announced that St. Louis-based Cornerstone Mortgage Inc. selected its Accounting for Mortgage Bankers (AMB) system for the lender’s mortgage accounting needs.

Cornerstone chose AMB through a recommendation from its LOS provider in order to streamline its accounting process and receive more loan-level detail than was provided by its previous accounting system, which was a generic software package not designed for mortgage lending. Since implementation, Cornerstone has seen significant improvement in several areas, including the audit process, reporting and commission calculations.

“Due to the reporting capability within AMB, our latest audit was the smoothest we have experienced,” said Chris Prost, controller at Cornerstone Mortgage. “In addition, we are able to capture and use more loan level detail, and we expect the commission calculation process to be reduced from two weeks to less than half an hour. These operational improvements have been complemented by quick, comprehensive service from the Advantage Systems team and a smooth transition into AMB.”

“AMB has provided Cornerstone Mortgage with tools that assist the company in its efforts to grow without increasing expenses,” said Brian Lynch, president of Advantage Systems. “By creating a seamless transition experience, we are able to get lenders such as Cornerstone up and running without taking time away from business.”

AMB is an automated accounting system specifically designed for mortgage lenders and provides general ledger, report writing capabilities, and a Web-based branch reporting module for branch managers, along with a module to calculate commissions, bonuses and overrides.

CONTACT: Bevin Rochester
Media contact for Advantage Systems
678-781-7215

Advantage Systems Launches Second Generation of Commission Calculation Module in Accounting for Mortgage Bankers (AMB) Software

IRVINE, Calif., Dec. 8, 2008 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced the release of its second generation Commission Calculation Module for its Accounting for Mortgage Bankers (AMB) software.

The enhanced, user-friendly module provides mortgage lenders in both retail and wholesale environments with greater flexibility to define how commissions and bonuses are calculated. The new module takes advantage of the loan-level accounting capability of the AMB software to minimize input and provides a higher level of confidence that commission calculations are correct because the accounting system generally receives greater scrutiny than other systems.

Advantage Systems launched its first Commission Calculation module in 2003 and has consistently enhanced that module to meet the varied needs of its clients. This second generation of the module goes even further by adding the following:

  • An algebraic formula approach that enables users to more easily visualize the commission they are calculating.
  • An expanded list of fields on which to base commissions. In addition to loan type and product available in the original offering, the module has been expended to include more fields from the borrower record such as lead source, marketing channel and lien position.
  • More flexible user profiles that can be shared and modified. For example, short-term sales contest profiles are easy to implement and manage.
  • The ability to use different calculation tiers within the same user profile. For example, one tier might be used in the calculation of the commissionable amount while another is used to tally the final commission.

“Five years of deploying and implementing our first generation module at numerous client sites gave us the unique insight we needed to complete the updated Commission Calculation Module,” said Brian Lynch, president of Advantage System. “The menu-based functionality, algebraic style and depth of options available of our Gen2 module satisfy almost any potential calculation, without custom programming, for most wholesale or retail mortgage organizations. The labor savings are significant in companies with complex commission structures.”

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 reporting module is also available for branch managers.

CONTACT: Sarah Cannon
Media contact for Advantage Systems
(678) 781-7216