Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that it posted record sales in 2009, surpassing its previous highest sales year of 2006 by six percent. The sales figure represents a 28 percent increase over 2008. The company cites increased sales of the Web-Based Branch Reporting Tool within its Accounting for Mortgage Bankers (AMB) system as a strong driver of the growth.
“We have seen a strong growth trend of larger mortgage lenders expanding their network of branches,” said Brian Lynch, president of Advantage Systems. “The Web-based reporting tool within AMB enables each branch manager to access information about their branch without requiring the assistance of corporate support personnel. Branch managers see data in real time while the corporate office improves time and cost-efficiency.”
In addition to the Web-Based Reporting tool, Advantage Systems released AMB’s second generation commission calculation module and enhancements to its imaging function in 2009, further assisting mortgage bankers accomplish more work with smaller budgets and staffs.
“Despite the challenges in the mortgage industry, Advantage Systems was able to achieve record growth due to our continued focus on developing products that drastically increase efficiency and decrease operating costs for lenders,” said Lynch. “In our 24 year history, we have experienced these ups and downs before and are prepared to help lenders grow in 2010.”
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.
For more information, visit www.mortgageaccounting.com.