Accounting for Mortgage Bankers System Helps Propel Equity Loans to Record Growth

Advantage Systems has announced that Atlanta-based lender Equity Loans LLC has utilized its Accounting for Mortgage Bankers (AMB) system to support the company’s 300 percent increase in loan volume during 2011–2012. Equity Loans needed an accounting system that could manage large volumes of loan data and also provide the ability to customize financial reports to fit the unique accounting needs of the institution. In January of 2011, Equity Loans chose Advantage Systems’ AMB system, an accounting system designed specifically for the mortgage industry. “AMB’s system enables us to provide our branch managers with the financial information they need to do their jobs more efficiently and gives us the accounting tools we need to manage a multi-branch system,” said Walter Werchanowskyj, EVP of finance at Equity Loans. Since launching the solution, Equity Loans grew its loan volumes and increased the quality of its financial data as well as its back office efficiencies. Access to more detailed financial data has led to the ability to evaluate loan and branch profitability in real-time. “Lenders that want to build profitability need to remain focused on growth, which demands accounting processes be fully automated or companies risk impeding that growth,” said Brian Lynch, president of Advantage Systems. “Equity Loans’ executive team has done an excellent job of growing their business and having the right accounting system helped.”