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.”