Crosscountry Mortgage Adds 25 Branches with Advantage Systems’ Accounting for Mortgage Bankers

IRVINE, Calif.--(BUSINESS WIRE)--Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that Brecksville, Ohio-based Crosscountry Mortgage utilized its Accounting for Mortgage Bankers (AMB) system to add 25 new branches in less than a year.

“Crosscountry’s executive team has done an excellent job of growing their business and having the right accounting system helped.”

As a rapidly growing mortgage company, Crosscountry Mortgage needed an accounting system that would provide branch managers with access to their financial data in real-time. In December of 2011, Crosscountry Mortgage chose Advantage Systems’ AMB system, an accounting system designed specifically for the mortgage industry. Since launching the solution, Crosscountry Mortgage grew its branch network and increased the quality of its financial data as well as back office efficiencies. Access to more detailed loan-level data provides branch managers with the ability to measure branch and loan profitability quickly and efficiently.

“AMB’s detailed financial reporting system enables us to provide branch managers with easy to access financial statements in real-time, which helps to recruit new branches,” said Vince Nappi, CFO of Crosscountry Mortgage. “AMB also enables us to create customized financial reports that fit our customers’ individual accounting needs. A generic accounting system could not have provided the level of financial detail that we have experienced with AMB.”

“Lenders who want to grow their branch networks need to provide access to high quality financial data or they risk impeding that growth,” said Brian Lynch, president of Advantage Systems. “Crosscountry’s executive team has done an excellent job of growing their business and having the right accounting system helped.”

About Crosscountry Mortgage

Crosscountry Mortgage, an Ohio-based company founded in 2003, is a nationwide full service mortgage lender providing first mortgage loans to borrowers across the country. Products include FHA, VA, USDA and conventional loans. Crosscountry Mortgage’s mission is to accommodate clients with the best possible advice and benefit to their mortgage financing needs and facilitate a fast, straightforward and stress-free process for buyers, sellers and realtors. Additional information can be found at www.myccmortgage.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.