Home America Mortgage selects Advantage Systems for accounting systemMortgagePress.comHome America Mortgage, Home America Mortgage, accounting
Advantage Systems, a provider of accounting and contract
management tools for the mortgage and real estate industries,
announced that Home America Mortgage, a Lawrenceville, Ga.-based
residential mortgage lender that offers financing to consumers
throughout the Southeast and in Colorado, selected Advantage
Systems' Accounting for Mortgage Bankers (AMB), an accounting
solution designed specifically for mortgage bankers, to streamline
its accounting practices.
Home America Mortgage moved from a gross loan funding process to
a net funding process in early 2008. It implemented AMB in March to
track funds at the loan level for its new funding process. The
company, which prides itself on the ability to close a loan in
typically 10 days or less, also uses AMB to reconcile its bundled
loans for resale through the systems ability to search individual
loans by loan number.
"Before joining Home America Mortgage, I served as the lender's
independent auditor. Now that Home America Mortgage uses AMB, I
know our audit in 2009 will be smoother and quicker than those in
the past because all the information an auditor needs to examine is
located within AMB," said Eric Danley, chief financial officer of
Home America Mortgage. "Software features, such as the transaction
by loan report that includes all transactions in a debit and credit
format, are intuitive enough for individuals without an accounting
background to understand."
"AMB not only reduces the redundancies of using multiple
spreadsheets to track debits and credits, it also provides reliable
financial records. Auditors do not need to question the
authenticity of transaction records compiled with AMB as they would
with information pieced together through Excel spreadsheets and
QuickBooks," said Brian Lynch, president of Advantage Systems.
"Creating accurate, easy-to-read loan-level reports will continue
to be a priority for lenders who want to streamline their
back-office processes."
For more information, visit www.homeamericamortgage.com
or www.mortgageaccounting.com.
