Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, has announced that Brecksville, Ohio-based Crosscountry Mortgage utilized its Accounting for Mortgage Bankers (AMB) system to add 25 new branches in less than a year. Crosscountry Mortgage needed an accounting system that would provide branch managers with access to their financial data in real-time. In December of 2011, Crosscountry Mortgage chose Advantage Systems’ AMB system, an accounting system designed specifically for the mortgage industry. Since launching the solution, Crosscountry Mortgage grew its branch network and increased the quality of its financial data as well as back office efficiencies. Access to more detailed loan-level data provides branch managers with the ability to measure branch and loan profitability quickly and efficiently.
“AMB’s detailed financial reporting system enables us to provide branch managers with easy to access financial statements in real-time, which helps to recruit new branches,” said Vince Nappi, CFO of Crosscountry Mortgage. “AMB also enables us to create customized financial reports that fit our customers’ individual accounting needs. A generic accounting system could not have provided the level of financial detail that we have experienced with AMB.”
“Lenders who want to grow their branch networks need to provide access to high quality financial data or they risk impeding that growth,” said Brian Lynch, president of Advantage Systems. “Crosscountry’s executive team has done an excellent job of growing their business and having the right accounting system helped.”