Skip to main content

ViewPoint Selects AMB for LO Compensation Compliance
Sep 21, 2011

Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, has announced that ViewPoint Mortgage has selected its Accounting for Mortgage Bankers (AMB) system for its mortgage-specific accounting needs. ViewPoint is a subsidiary of ViewPoint Bank, serving the Dallas-Fort Worth, Austin and Houston markets. ViewPoint selected AMB based on its ability to provide loan-level data such as profit by loan, loan type, loan officer and channel. “Advantage Systems’ AMB product provides more detailed financial reporting than we were able to find with any other system,” said Pam Allan, divisional controller at ViewPoint Mortgage. “With AMB’s automation of processes like reconciliation and commission calculations, instead of focusing time on payroll, we’re able to create reports that enhance our business decisions, as well as spend more time with our borrowers.” ViewPoint benefits from the variety of customizable reporting tools that are tightly integrated with its loan origination software (LOS), making the import and export of data into the accounting system seamless and more accurate. The lender has also automated compliance with recent loan originator (LO) compensation changes through AMB’s Commission Calculation Module. “AMB provides ViewPoint Mortgage with automated, detailed reporting tools necessary to simplify its accounting processes and allow its staff to focus efforts on areas that increase loan volume,” said Brian Lynch, president of Advantage Systems. “As the company’s needs change, we are able to change the way AMB works for them, including compliance areas such as loan officer compensation.”
Sep 21, 2011
6 Federal Agencies Seek Comment On Proposed Rule For AVMs

The rule is intended to ensure the credibility and integrity of Automated Valuation Models.

FHA Proposes New Program To Help Struggling Homeowners

Legal expert questions whether agency has authority to implement the program.

Fitch Places Fannie, Freddie On Negative Ratings Watch

Ties credit rating to outcome of U.S. debt limit negotiations.

FHFA Director Strongly Defends New GSE Pricing Framework 

Tells House committee it’s “simply not true” that financially stronger borrowers are subsidizing others.

MBA CEO Criticizes Government Response To Economic Challenges

CEO Bob Broeksmit calls for sensible Regulation, clarity, and support for the mortgage industry.

Freddie Mac Updates Income Assessment Tool To Use Digital Pay Stubs

Says new capability helps lenders calculate borrower income more quickly and precisely.