""Cascade Financial Services"":http://www.cascadeloans.com in Mesa, Arizona has selected ""Advantage Systems'"":http://www.mortgageaccounting.com automated accounting system to address the lender's mortgage accounting needs.[IMAGE]
After searching for an accounting system that catered to mortgage bankers, Cascade was introduced to Advantage Systems and participated in several demos. The company says it chose Advantage's Accounting for Mortgage Bankers (AMB) solution because of its industry-specific software, loan-level and general ledger detail, and flexibility.[COLUMN_BREAK]
""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, CFO 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.""
Advantage explained that AMB is specifically designed for mortgage lenders, and provides general ledger, report writing capabilities, and a Web-based branch reporting module, as well as a module to calculate commissions, bonuses, and overrides.
""In the current economic environment, lending organizations such as Cascade must have a heightened awareness of all of its financial details,"" said Brian Lynch, president of Advantage Systems. ""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.""