Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced at MBA's 95th Annual Convention and Expo that the Web-based reporting tool within Advantage Systems Accounting for Mortgage Bankers (AMB) is now used by 971 branch locations across the United States.
The Web-based reporting tool within AMB enables mortgage lenders to provide their branch managers with information such as loan-level accounting reports, branch profit and loss reports, branch check register and originator performance reports via the Internet in real time. The system has role-specific views that can be established and restricted by the organizations chief financial officer.
Benefits of the Web-based reporting tool for branch managers include eliminating the burden of bookkeeping and accounting while providing updates on the status of pending loans and financial progress, in real time, without placing calls to company headquarters.
"AMB's Web-based reporting tool helps mortgage lenders by taking away the financial headaches associated with branch expansions," said Brian Lynch, president of Advantage Systems. "By disseminating loan information through a secure network, branch managers have access to up-to-date reports and loan information, eliminating the need to follow up with regional headquarters and enabling them to operate with more flexibility and authority as their workload is decreased. Having this capability also helps attract experienced brokers and originators who want to originate loans without having the responsibility of managing the operational side of the business."
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.