- Web-based reporting tool enables information exchange throughout network of branches -
IRVINE, Calif., Oct. 27, 2009 - Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that the Web-based reporting tool within Advantage Systems' Accounting for Mortgage Bankers (AMB) is now used by 1,590 branch locations across the United States, a 64 percent increase over the same time last year.
The Web-based reporting tool within AMB enables mortgage lenders to provide their branch managers with real-time information such as loan-level accounting reports, branch profit and loss reports, and branch check register and originator performance reports via the Internet. The system also has role-specific views that can be established and restricted by the organization's chief financial officer.
Through the Web-based reporting tool, branch managers have easy access to vital day-to-day operating information, without placing phone calls to company headquarters. This eliminates the burden of bookkeeping and accounting while providing updates on loan status and financial progress, enabling branch managers to function with more flexibility, authority and timeliness.
"As the mortgage lending industry changes and adapts to this new market, we have seen a clear shift towards acquiring net branches as a way for lenders to expand," said Brian Lynch, president of Advantage Systems.
"AMB's Web-based reporting tool provides loan information through a secure network, putting up-to-date branch reports at the manager's fingertips. Eliminating the hassle of compiling this data helps attract experienced brokers and originators who want to originate loans without having the responsibility of managing the operational side of the business."
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.
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 demand the company saw for a general ledger accounting product specifically designed for the mortgage banking industry. AMB has the ability and reliability to track costs at loan level in real time, eliminating redundant spreadsheets and providing financial data that can be used by CEOs, management and staff who may not be trained as accountants. For more information about Advantage Systems, visit www.mortgageaccounting.com.