– Offers options for MSQL users and mortgage lenders interested in enhanced transaction editing and reporting capabilities and efficiently paying commissions –
IRVINE, Calif., Jan. 24, 2018 – Advantage Systems,a provider of accounting and financial management tools for the mortgage industry, announces its upgrades and expanded features of Accounting for Mortgage Banking (AMB) and ApprovalSoft mortgage accounting solutions that were developed and recently released.
Advantage Systems further developed its data conversion utility to enable users to make a seamless transition from Oracle to Microsoft’s SQL server. In 2017, more than 40 mortgage lenders have begun using AMB with Microsoft’ SQL server. The company continues to offer clients the choice between the two databases.
Advantage Systems also updated its branch reporting dashboard by adding new key performance indicators (KPIs) on the homepage of AMB’s dashboard, such as application to funding metrics, funding to sale and refi to purchase volumes. The layout of the dashboard offers users the ability to drill down to loan level detail on all KPIs quickly.
In addition, recent updates to the AMB commission calculation module were made, which provide mortgage bankers with additional options to simplify and speed up the calculation and payment of commissions. Key features include the ability to see not only commissions “earned” but also commissions “accrued” and “paid.”
The commissions earned often changes based on the dollar volume or number of units achieved between pay periods within a given month. In many cases, when a higher commission rate is achieved it is applied to all of the loans within a given month and not just those within a given pay period. AMB allows the user to easily manage these changes.
Another upgrade to AMB’s commissions calculator module allows for custom relationships between different job functions for the purpose of calculating custom overrides for processors, managers, loan officer assistants, etc. Similar functionality has enhanced the team commission calculation functions.
The company also made numerous upgrades to its ApprovalSoft solution that allows users to easily gather images and approvals on transactions before posting them to AMB. In addition to the improved control environment, Approvalsoft allows clients to streamline the flow of transactions all over the company.
“The changes we have made are based on feedback gathered from our more than 300 customers,” said Brian Lynch, president of Advantage Systems. “They focus entirely on making the accounting processes for mortgage lenders to be as effortless as possible while expanding the flexibility and level of control over the data being used.”
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, Calif.-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 need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.
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