Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that Independence, Ohio-based Nations Lending Corporation and San Antonio, Texas-based SWBC Mortgage Corporation are leveraging the company’s software, including its AMBfx module, to build custom reports and deliver enhanced financial reporting all while working remotely during the pandemic.
Read More: COVID-19 and Automation are Changing Finance for Good
“Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders”
“Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders,” according to Forbes. And, with employees working remotely, mortgage companies must lean on technology in a whole new way. With an increase in activity, Advantage Systems’ AMBfx users are able to enhance their reporting during this period of growth.
Read More: Vitesse, a Fintech Providing Real-Time Cross-Border Payments for Businesses, Scores £6.6m Series A
Advantage Systems’ client Nations Lending has seen significant efficiency gains with the platform. According to Laurie Petrich, Controller at Nations Lending, “We’ve had a huge increase in loan volume and activity – up almost 150 percent – and are thankful to work with a system that continues to grow with our company. Advantage Systems has proven to be a value-added business partner, consistently updating the system with features and functionalities that have saved my team a tremendous amount of time.”
With hundreds of easy-to-use reports already embedded into the AMB system, AMBfx allows users to build custom reports specific to their needs. Data is accessed directly from the AMB database into spreadsheets created by the user, meaning that changes made in AMB are immediately reflected in the customized spreadsheet.
In fact, the AMBfx module allows users to create financial reports leveraging the presentation capabilities of Excel, helping Advantage Systems’ client SWBC Mortgage enhance the presentation when reporting branch activity. Elaine Ratcliff, Vice President of Finance and Operations Controller at SWBC Mortgage, added, “The team at Advantage Systems continually adds new enhancements and security features all while keeping the software user-friendly. The AMBfx module has allowed our team to create custom-built reports for all of our branches – directly pulling in data from AMB to make tracking branch activity easier – significantly cutting down manual processes and helping with our month-end close process.”
Read More: Bank Of The Future: How Banks And Fintechs Are This Decade’s Unlikely Duo
