Equity Loans LLC Leverages Advantage Systems’ Accounting to Support a 300 Percent Increase in Loan Production

Accounting solution supports lender’s loan volume growth, automates accounting processes and increases efficiency

IRVINE, Calif.--(BUSINESS WIRE)--Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced that Atlanta-based lender, Equity Loans LLC, utilized its Accounting for Mortgage Bankers (AMB) system to support the company’s 300 percent increase in loan volume during 2011 – 2012.

“AMB’s system enables us to provide our branch managers with the financial information they need to do their jobs more efficiently and gives us the accounting tools we need to manage a multi-branch system”

As a rapidly growing mortgage company, Equity Loans needed an accounting system that could manage large volumes of loan data and also provide the ability to customize financial reports to fit the unique accounting needs of the institution. In January of 2011, Equity Loans chose Advantage Systems’ AMB system, an accounting system designed specifically for the mortgage industry. Since launching the solution, Equity Loans grew its loan volumes and increased the quality of its financial data as well as its back office efficiencies. Access to more detailed financial data has led to the ability to evaluate loan and branch profitability in real-time.

“AMB’s system enables us to provide our branch managers with the financial information they need to do their jobs more efficiently and gives us the accounting tools we need to manage a multi-branch system,” said Walter Werchanowskyj, EVP of finance at Equity Loans.

“Lenders that want to build profitability need to remain focused on growth, which demands accounting processes be fully automated or companies risk impeding that growth,” said Brian Lynch, president of Advantage Systems. “Equity Loans’ executive team has done an excellent job of growing their business and having the right accounting system helped.”

About Equity Loans

Equity Loans LLC is a leader in the residential mortgage industry whose operations extend to more than 30 states. Headquartered in Atlanta, Ga., Equity Loans provides a full array of lending resources when making Conventional, FHA, VA, Jumbo, Reverse Mortgages and USDA loans. With a dedicated staff of experienced professionals, Equity Loans provides exceptional pricing for thousands of clients annually, without compromising follow through and customer service. For more information on Equity Loans, please visit http://www.equityloansllc.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.