Customer Stories in Mortgage Accounting

HMA Mortgage has about 300 employees and more than 50 branches in about 35 states, and funds around 500 loans a month. On its old system, AMB, closing the books took 20 to 25 days each month. CFO Matt Stokes had already brought in Loan Vision at his previous company, so he switched HMA to it without running a new evaluation. HMA now closes the month in 10 days, and the whole accounting department is four people. Matt doesn’t plan to add anyone. Automated funding and purchase-advice processing lets one person run accounts payable for the whole company. Through the Branch Portal, more than 50 branch managers can look up loan-level commission detail themselves instead of asking accounting. Matt also relies on drilling into branch, division, department and loan-officer reporting for the board and partners.

Embrace Home Loans operates 28 branches and originates roughly $2.4 billion across approximately 5,500 loans a year, supported by an eight-person accounting team. For more than two decades, that team ran on Great Plains, a general accounting system never designed for a mortgage lender.

Facing 50% year-over-year growth, All Western Mortgage outgrew QuickBooks fast. See how a six-person accounting team scaled toward $3 billion in funding - adding just one hire - by moving to Loan Vision's mortgage-specific platform.

With approximately 600–700 employees across branches and joint ventures, VIP Mortgage processes nearly 1,000 invoices per month with a small accounting team and a single dedicated Accounts Payable Administrator – Alexa Williams. Prior to automation, invoices were manually entered into Loan Vision as they arrived, creating an ongoing race to keep up with volume, especially during month end close.

Established as a subsidiary of BankSouth in 2011, BankSouth Mortgage found that by 2017, the core finance system used by their parent company couldn’t give them the granularity needed for mortgage accounting.

Since entering the mortgage space in 2008, Encompass Lending Group found themselves using an off the shelf product for all their mortgage accounting needs.