Web-based reporting tool enables information exchange throughout network of
branches
IRVINE, Calif.--(Business Wire)--
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."
AMBis 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.
For Advantage Systems
Media contact
Bevin Rochester, 678-781-7215
Copyright Business Wire 2009
