|By Business Wire||
|February 5, 2014 10:02 AM EST||
Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, today announced Grand Rapids Mich.-based VanDyk Mortgage, utilized its Accounting for Mortgage Bankers (AMB) system to support the company’s 15 percent increase in loan volume since January 2013 and increase back-office efficiencies.
As a fast growing mortgage company, VanDyk Mortgage needed an accounting system that would enable it to manage increasing amounts of loan data and provide its management with detailed financial information in real-time. In January 2013, VanDyk chose Advantage Systems’ AMB system, an accounting system designed specifically to meet the needs of mortgage bankers. Since implementing AMB, the company grew loan volume by 15 percent, increased the quality of its financial data and fully automated its accounting processes. Access to more detailed loan-level data provides management with the ability to measure branch and loan profitability quickly and efficiently.
“AMB enables us to grow rapidly without having to add additional accounting staff, access detailed loan-level data in real-time and automate our accounting processes so that we can focus on growing our business,” said Justin McDowell, chief financial officer of VanDyk Mortgage.
“We designed AMB to help lenders grow revenues through increased efficiency and automation,” said Brian Lynch, president of Advantage Systems. “VanDyk Mortgage’s executive team has done a great job of growing their business and having the right accounting system helped.”
About VanDyk Mortgage
Founded in 1987, VanDyk Mortgage is a direct Lender approved by FannieMae as well as a Direct FHA/VA DE lender with a servicing portfolio of over $400 million. The company is currently licensed in 30 states with over 50 branches. For more information, please visit www.vandykmortgage.com.
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.