Accounting for Mortgage Bankers System Helps Propel Equity Loans to Record Growth – NMP Skip to main content

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

NationalMortgageProfessional.com
Feb 19, 2013

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.”
Published
Feb 19, 2013
More from
Tech
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
Deal With Opendoor Allows Zillow Back Into iBuying Business

As it releases rough 2Q earnings report, Zillow announces partnership with former rival.

Tech
Aug 04, 2022
ATTOM Sells Off RealtyTrac, Homefacts

Websites now the property of Nations Info; financial terms of the deal were not disclosed.

Industry News
Aug 01, 2022
UWM Among Companies Selected To Host AI Bootcamp 

Mark Cuban Foundation’s Artificial Intelligence Bootcamp initiative teaches AI concepts to underserved high school students.

Industry News
Aug 01, 2022
Ribbon Expands into Kentucky; Now In 15 States

Cash-offer fintech expands to Louisville market with partner Finish Line Realty.

Industry News
Jul 26, 2022
How Tech Can Help Mortgage Lenders Stay Ahead of Fintech Competitors

Learn to swim rather than sink against the emerging tide of competition.

Tech
Jul 20, 2022