Skip to main content

Lenders One members head down the Yellow Brick Road

Nov 06, 2008

Advantage Systems adds additional security feature to Accounting for Mortgage Bankers softwareMortgagePress.comAdvantage Systems, AMB, Accounting for Mortgage Bankers, bank accounts Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, has announced the addition of a new feature to Advantage Systems' Accounting for Mortgage Bankers (AMB), an accounting solution designed specifically for mortgage bankers, that enable users to limit access to individual bank accounts. By securing access to bank accounts, AMB now enables branch users to manage their own checking accounts within the system. The organization benefits by distributing that labor burden while at the same time capturing the necessary accounting data relative to the branch. Additional benefits of this security feature enhancement include greater overall security of the check writing process and prevention of errors associated with users selecting the incorrect bank account when printing or voiding checks. The enhancement provides managers within the mortgage industry with the ability to safely and securely enable branch users to print their own bank-related reports, such as cash disbursement and cash receipt reports, since each user is only able to report on banks to which he or she has been granted access. Senior management also has the ability through AMB to better control access to money market and other high dollar or sensitive accounts. "Many accounting systems control the access to the function to write checks rather than the specific bank involved, leaving the company vulnerable to the risk that sensitive information can be seen by the wrong people," said Brian Lynch, president of Advantage Systems. "AMB takes security to the next level by enabling management to decide which users have access to each bank account." 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. A Web-based reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides. For more information, visit www.mortgageaccounting.com.
About the author
Published
Nov 06, 2008
West Capital Lending Acquires Locally-Focused Brokerage, Red Tree Mortgage

The 2024 Broker Brawl reaffirmed West Capital's commitment as a relationship-focused lender

Dec 03, 2024
First FICO 10T-Backed MBS Issuance Achieved

Comprised of VA loans, the pool offers proof of concept for changes to be required by the FHFA by late 2025.

Dec 03, 2024
BAC Co-Founder Reveals Mega Brokers May Undergo CFPB Audits

Brendan McKay of BAC revealed the main takeaways in a LinkedIn post

Dec 02, 2024
AnnieMac Data Breach Impacts 171,000 Customers

Letters detailing the Aug. 23 breach were mailed to thousands of affected customers across multiple states last week.

Nov 18, 2024
More Communication, Earlier, Homebuyers Plead

It takes more than just 'fast and fancy' to please mortgage borrowers, according to the latest J.D. Power study

Nov 12, 2024
NAR's Yun Predicts 6-8 Rate Cuts Over Next Two Years

The NAR Chief Economist offers a blended forecast for 2025 and 2026

Nov 11, 2024