– Mortgage lender gains access to loan-level reporting capabilities-
IRVINE, Calif., August 16, 2016 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announces that Stamford, Connecticut-based Luxury Mortgage, a residential mortgage banking firm, has reinvented its mortgage accounting process due to Advantage Systems’ Accounting for Mortgage Bankers (AMB) software.
Luxury Mortgage selected AMB as its accounting system in 2015 in order to eliminate time-consuming manual processes and gain access to detailed loan-level reporting tools. Since implementing AMB, Luxury Mortgage has been able to conduct balance sheet account reconciliation, access to data and import accounts with great ease.
One of the primary reasons Luxury Mortgage chose AMB as its mortgage accounting software was the long-standing reputation of Advantage Systems.
“Personally, I have had more than 20 years of experience using AMB, which made justifying the transition extremely easy,” said Bryan Thompson, CFO of Luxury Mortgage. “We conducted in-depth research into all of our software options, before deciding that AMB was the best solution for Luxury Mortgage.”
“We strive to maintain open communication with users to gather feedback and adjust our system to meet their needs,” said Brian Lynch, president of Advantage Systems. “These lines of communication are crucial sources of inspiration for our annual updates.”
AMB is a robust accounting system that was specifically designed for mortgage bankers. The solution brings real-time accounting data to users, both accounting and non-accounting staff, in a practical, useable format. Key features include the ability to view loan level data that displays profitability by loan, loan type, loan officer and branch.
About Luxury Mortgage
Since 1996, Stamford, Connecticut-based Luxury Mortgage has been a residential mortgage banking firm offering a variety of mortgage products, from conventionl, FHA and jumbo mortgages to its proprietary super jumbo mortgages-all to meet the needs of its clients. For more information, visit luxurymortgage.com.
About Advantage Systems
Founded in 1986, Irvine, California-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the demand the company saw for a general ledger accounting product specifically designed for the mortgage banking industry. AMB has the ability and reliability to track costs at loan level in real time, eliminating redundant spreadsheets and providing financial data that can be used by CEOs, management and staff who may not be trained as accountants. For more information, visit www.mortgageaccounting.com.
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