Advantage Systems Adds Dashboard Feature to AMB Accounting Software

Adds functionality of accounting system for non-accounting staff

IRVINE, Calif., July 24, 2008 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced the addition of a dashboard analytics feature to its Accounting for Mortgage Bankers (AMB) software package.

The AMB Dashboard Analytics is Advantage Systems’ implementation of a powerful, comprehensive and easy-to-use Online Analytical Processing (OLAP) view of data. OLAP is a member of the broader category of software known as Business Intelligence.

The added dashboard feature expands the scope of traditional accounting systems so data can be more easily accessed and used by presidents, CEOs and non-accounting staff. The data is displayed through charts and graphs, making the accounting reports and information easier to read and understand. This feature can be used by decision makers to study real-time loan profitability and can help determine which loan products, branches and loan officers are most profitable. Another attribute of the dashboard feature is the ability to illustrate activity on loans even after closing, aiding in the effort to track amounts due from fees and ancillary expenses.

“AMB’s new dashboard analytics feature was designed to enable presidents, CEOs and other decision makers to leverage accounting data into a tool that can reduce expenses and boost profitability,” said Brian Lynch, president of Advantage Systems. “The dashboard feature makes accounting easier to understand for decision makers without an accounting background so they can see where their money is going, while at the same time reducing the costs that are incurred in the accounting process.”

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. A Web-based reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides.

CONTACT:
Sarah Cannon
Media contact for Advantage Systems
(678) 781-7216

Advantage Systems’ Accounting for Mortgage Bankers (AMB) Increases Revenue by 41 Percent in First Half of 2009

Growth illustrates increasing stability among mortgage originators

IRVINE, Calif., July 21, 2009 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that revenue for its Accounting for Mortgage Bankers (AMB) system has increased by 41 percent in the first and second quarters of 2009 over the pervious period in 2008.

“We are seeing significant activity within the structure of the mortgage industry. Some companies are growing by acquiring branches while other lenders are being spun off by larger banking organizations. We are even seeing veteran mortgage bankers re-emerging to start new mortgage banking entities,” said Brian Lynch, president of Advantage Systems. “Executives starting new companies want to minimize their own in-house technology development and go with a specialized accounting solution that is tailored for lenders.”

Organizations focused on growth through branch acquisition select the Web-based branch reporting module for AMB that enables branch managers to see real-time financial information on their branch without having to burden the corporate office with requests for information. Organizations that have restructured or split off from a larger organization select AMB because the accounting system can produce the detailed reporting and control requirements their parent companies demand.

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. A Web-based branch reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides.

CONTACT: Sarah Cannon
Media contact for Advantage Systems
678-781-7216

Advantage Systems Launches Auto Import Application for Use with Accounting for Mortgage Bankers (AMB) System

IRVINE, Calif., Jan. 27, 2011 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, has released its new Interface Services module, a server-based application that automatically imports data from disparate data sources, such as loan origination or servicing systems, into the Accounting for Mortgage Bankers (AMB) system.

The auto import application, built using Microsoft .NET, provides the capability of automatically performing predefined imports to AMB without user intervention. The application enables authorized users to configure, control and monitor the auto-importation process.

“The auto import feature enables mortgage originators to simplify integration across the organization while providing greater ease of use and control over the process of entering accounting transactions,” said Brian Lynch, president of Advantage Systems. “The accounting system touches all parts of the company and having a tool that lets users import data without manual intervention saves time and manpower.”

In addition to an e-mail receipt, the status of each import is recorded in logs that can be reviewed to confirm that imports were successful or to determine the cause behind any that were rejected.

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. A Web-based branch reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides.

CONTACT: Bevin Rochester
Media contact for Advantage Systems
678-781-7215

Hometrust Mortgage Company Marks 10 Year Anniversary Using Advantage Systems’ Accounting for Mortgage Bankers

Mortgage-specific technology has grown with lender’s changes

IRVINE, Calif., May 10, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that Houston-based Hometrust Mortgage Company has been using its Accounting for Mortgage Bankers (AMB) automated accounting system for 10 years.

After finding that generic accounting systems required extensive modifications in order to fit the specific needs of mortgage lending accounting, Hometrust Mortgage chose Advantage Systems’ AMB in 1999 for its ability to streamline the accounting process and provide drill-down financial information, without reliance on spreadsheets and manual processes. During the past 10 years, Advantage Systems has worked with Hometrust to ensure the AMB technology matches industry changes.

“From the start, AMB performed the functions we needed without time- and cost-intensive customizations or upgrades,” said Jerry Fenske, vice president of Hometrust Mortgage Company. “During the past decade, Advantage Systems has made regular updates and enhancements to AMB, while providing hands-on, personal service. Those are the qualities we value in a longstanding vendor relationship.”

“The AMB product was released more than 17 years ago and since that time, we have strived to keep the technology up-to-date with lenders changing needs,” said Brian Lynch, president of Advantage Systems. “The special attention we pay to each customer’s business and the operational improvement provided by AMB enables us to retain customers such as Hometrust through good and bad times in the industry.”

AMB, an automated accounting system specifically designed for mortgage lenders, provides general ledger, report writing capabilities, and a Web-based branch reporting module for branch managers, along with a module to calculate commissions, bonuses and overrides.

CONTACT: Bevin Rochester
Media contact for Advantage Systems
678-781-7215

Advantage Systems Achieves Record Sales in 2009

During mortgage industry downturn, company assists lenders in increasing efficiency

IRVINE, Calif., March 2, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that it posted record sales in 2009, surpassing its previous highest sales year of 2006 by 6 percent. The sales figure represents a 28% increase over 2008. The company cites increased sales of the Web Based Branch Reporting Tool within its Accounting for Mortgage Bankers (AMB) system as a strong driver of the growth.

“We have seen a strong growth trend of larger mortgage lenders expanding their network of branches,” said Brian Lynch, president of Advantage Systems. “The Web-based reporting tool within AMB enables each branch manager to access information about their branch without requiring the assistance of corporate support personnel. Branch managers see data in real time while the corporate office improves time and cost-efficiency.”

In addition to the Web Based Reporting tool, Advantage Systems released AMB’s second generation commission calculation module and enhancements to its imaging function in 2009, further assisting mortgage bankers accomplish more work with smaller budgets and staffs.

“Despite the challenges in the mortgage industry, Advantage Systems was able to achieve record growth due to our continued focus on developing products that drastically increase efficiency and decrease operating costs for lenders,” said Brian Lynch, president of Advantage Systems. “In our 24 year history, we have experienced these ups and downs before and are prepared to help lenders grow in 2010.”

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. CONTACT: Bevin Rochester Media contact for Advantage Systems 678-781-7215

Advantage Systems Enhances Accounting for Mortgage Bankers (AMB) With Broker Price Opinion Tracking

BPO feature enables loan-level comparison with appraisal values over time

IRVINE, Calif., Aug. 11, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, today announced the addition of a Broker Price Opinion (BPO) tracking feature to its Accounting for Mortgage Bankers (AMB) system.

In response to client needs, Advantage Systems developed a BPO tracking capability to enable mortgage lenders to record BPO values on individual loans throughout the life of the property. With this tool, lenders can incorporate the most recent BPO price into reports using the Borrower Table, while keeping a record of all previous BPO amounts.

“Those lenders handling REO properties have found the Broker Price Opinion to be an integral tool in the management of their business,” said Brian Lynch, president of Advantage Systems. “By incorporating a BPO tracking tool into AMB, we enable our clients to leverage the insight, time savings and cost-effectiveness of BPOs and easily compare the current value to the client’s investment in each property. Our goal at Advantage Systems is to give our AMB clients the tools they need to manage and grow their business without increasing costs.”

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. A Web-based branch reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides.

CONTACT: Bevin Rochester
Media contact for Advantage Systems
678-781-7215

Advantage Systems Achieves Record Sales in 2009

During mortgage industry downturn, company assists lenders in increasing efficiency

IRVINE, Calif., March 2, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that it posted record sales in 2009, surpassing its previous highest sales year of 2006 by 6 percent. The sales figure represents a 28% increase over 2008. The company cites increased sales of the Web Based Branch Reporting Tool within its Accounting for Mortgage Bankers (AMB) system as a strong driver of the growth.

“We have seen a strong growth trend of larger mortgage lenders expanding their network of branches,” said Brian Lynch, president of Advantage Systems. “The Web-based
reporting tool within AMB enables each branch manager to access information about their
branch without requiring the assistance of corporate support personnel. Branch managers see data in real time while the corporate office improves time and cost-efficiency.”

In addition to the Web Based Reporting tool, Advantage Systems released AMB’s
second generation commission calculation module and enhancements to its imaging function in 2009, further assisting mortgage bankers accomplish more work with smaller budgets and staffs.

“Despite the challenges in the mortgage industry, Advantage Systems was able to
achieve record growth due to our continued focus on developing products that drastically increase efficiency and decrease operating costs for lenders,” said Brian Lynch, president of Advantage Systems. “In our 24 year history, we have experienced these ups and downs before and are prepared to help lenders grow in 2010.”

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.

CONTACT: Bevin Rochester
Media contact for Advantage Systems
678-781-7215

More Than 1,000 Branches Using Advantage Systems’ Web Based Branch Reporting Tool

IRVINE, Calif., Jan. 20, 2009 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, 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 individualbank 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.

CONTACT: Sarah Cannon
Media contact for Advantage Systems
678-781-7216

Cascade Financial Services Selects Advantage Systems’ Accounting for Mortgage Bankers

Uses mortgage-specific technology to enhance efficiency; make sounder business decisions

IRVINE, Calif., Feb. 9, 2010 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that Mesa, Ariz.- based Cascade Financial Services selected Advantage Systems’ Accounting for Mortgage Bankers (AMB) automated accounting system to address the lender’s mortgage accounting needs.

After searching for an accounting system that catered to mortgage bankers, Cascade was introduced to Advantage Systems and participated in several demos. AMB was chosen by the company for its industry-specific software, loan-level, general ledger detail and flexibility.

“Advantage Systems’ AMB has enabled us to easily import borrower and transaction data without having to key each entry individually. The loan-level P&L reporting also helps us to clearly track all accounting aspects for a particular loan and better manage our profitability,” said Wayne Bond, chief financial officer for Cascade Financial Services. “In addition, we utilize AMB when selling Ginnie Mae securities, as well as in the construction lending side of our business, all without making any modifications to the product.”

“In the current economic environment, lending organizations such as Cascade must have a heightened awareness of all of its financial details. Using AMB, Cascade is able to track all aspects of accounting across the business, down to the loan level, providing detailed, accurate P&L statistics that enable the company’s leadership to make better strategic decisions,” said Brian Lynch, president of Advantage Systems.

AMB, an automated accounting system specifically designed for mortgage lenders, provides general ledger, report writing capabilities, and a Web-based branch reporting module for branch managers, along with a module to calculate commissions, bonuses and overrides.

CONTACT: Bevin Rochester
Media contact for Advantage Systems
678-781-7215