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.
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 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.
For Advantage Systems
Bevin Rochester, 678-781-7215