Memphis, Tenn.-based Evolve Bank & Trust has been able to handle a 25% increase in loan volume, without having to add new staff, since deploying the Accounting for Mortgage Bankers (AMB) system from Advantage Systems.
The Web-based, real-time reporting solution enables Evolve to provide its managers with detailed loan level data, such as branch profit and loss reporting. Thus, it eliminates the need to send out monthly financial reports to individual loan production offices.
Since launching the accounting solution in November 2012, Evolve has been able to grow its loan volumes and increase the quality of its financial data without adding additional accounting staff, Advantage Systems said in a press release.
Evolve Bank & Trust is reportedly benefiting from the Commission Calculation Module within the AMB solution. This module allows the company to automate its commission calculation process, thus increasing accuracy and enhancing regulatory compliance.
AMB's loan level data enables Evolve to evaluate profitability in real time by office, loan type or loan officer, Advantage Systems reports.