Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, and LendingQB, a loan origination systems (LOS) provider, have integrated their platforms, thus enabling mortgage lenders to transfer loan-level accounting data from the LendingQB LOS to Advantage Systems’ Accounting for Mortgage Bankers platform.
Facilitating this integration is LendingQB’s open architecture application protocol interface, which allowed Advantage Systems to build a connection.
“We specifically built our API to provide a simple but secure method for outside companies to access virtually any field in a loan file,” says Binh Dang, president of LendingQB, in a press release. “Our API is ideal because all lenders perform their accounting and reporting in a slightly different way. It has built-in flexibility and extensibility to allow AMB and the lender to customize the data they want to access.”
“Most of the integrations we have done involve an LOS system pushing data to us,” says Brian Lynch, president of Advantage Systems. “The integration between Advantage Systems and LendingQB allows us to reach in and get the information we need. This tool allows us to minimize implementation costs to our clients and gives them the flexibility to make changes when needed.”
A benefit of the integration is that it encourages lenders to perform accounting functions on a more frequent basis. This reduces the work level at month-end and improves completeness of data, LendingQB says.