Home America Mortgage, a Lawrenceville, Ga.-based residential mortgage lender in the Southeast and in Colorado, has selected Advantage Systems' Accounting for Mortgage Bankers (AMB) solution to streamline its accounting practices. Advantage Systems provides accounting and contract management tools for the mortgage and real estate industries.
Home America Mortgage moved from a gross loan funding process to a net funding process in early 2008 and implemented AMB in March to track funds at the loan level for its new funding process. The company also uses AMB to reconcile its bundled loans for resale through the system's ability to search individual loans by loan number.
"Software features, such as the transaction by loan report that includes all transactions in a debit and credit format, are intuitive enough for individuals without an accounting background to understand," Eric Danley, chief financial officer of Home America Mortgage, says of the AMB tool.
SOURCE: Advantage Systems