Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, has announced that 1,043 mortgage branches at 24 different lending organizations currently use the Web Based Branch Reporting Tool within Advantage Systems Accounting for Mortgage Bankers (AMB) system.
The AMB tool enables mortgage lenders to provide their branch locations with real-time information such as loan-level accounting reports, branch profit and loss reports, branch check register and originator performance reports.
The 23-year-old technology provider also experienced double-digit sales growth in 2008 over the previous year, contrary to downward spending trends the mortgage technology industry faced last year. Other 2008 highlights include the following:
• The launch of a dashboard analytics feature to AMB that easily displays real-time data for use by presidents, CEOs and non-accounting staff
• Inclusion of a security feature to AMB that enables users to limit access to individual bank accounts
• The release of the second generation of its Commission Calculation Module in AMB
"We increased sales of our AMB mortgage accounting system by providing added features that meet the evolving needs of mortgage lenders such as our Web-Based Branch Reporting Tool or the enhanced Commission Calculation Module," said Brian Lynch, president of Advantage Systems.
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.