""Advantage Systems"":http://www.mortgageaccounting.com/CompanyProfile.aspx is set to offer enhanced programs to facilitate critical communication between parent companies that possess mortgage divisions. The company's ""Accounting for Mortgage Bankers"":www.mortgageaccounting.com/ (AMB) product can now be utilized with greater leverage to enable mortgage subsidiaries to operate outside of an entity's general ledger system, creating improved efficiency and streamlined processing.[IMAGE]
Providing accounting and contract management tools throughout the mortgage and real estate industries, Advantage System's AMB module targets better independence for mortgage divisions by giving them mortgage-specific programming when conducting all management and accounting processes. AMB was built for mortgage lenders and divisions that require loan level transaction performance, real-time[COLUMN_BREAK]
data reports, and documentation services - capabilities that many traditional businesses maintaining a mortgage segment don't currently have.
Brian Lynch, president of Advantage Systems, said of its AMB offerings, ""Joint venture companies that operate a mortgage lending subsidiary must draw the distinction between how the organizations operate. In order to ensure successful audits and compliance, mortgage accounting should be an automated process that does not rely on spreadsheets. AMB helps mortgage divisions work more effectively with their parent company, have more control over their processes and shave significant time off monthly procedures.""
Managing transactions, reconciliations, and general account activities, AMB lends faster auditing and enhances branch operations procedures. Advantage Systems' AMB product also provides commission calculations; branch income statements; profit calculations by loan, loan type, loan offer, and loan channel; and spreadsheet-free processes to effectively facilitate easy and clear communication between parent companies and their related mortgage divisions.
The California-based company was founded in 1986, and Advantage Systems' AMB product was eventually developed to meet the demands of mortgage companies in need of highly specific accounting needs. The latest updates to the AMB program will help parent companies, lenders, and mortgage divisions cut costs through simplifying general workflow and data transmission.