IRVINE, Calif., February 10, 2021 – Advantage 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

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IRVINE, Calif., December 17, 2020 – Advantage 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.