Loan Vision, a mortgage accounting and financial management solution, announced that Melville, New York-based US Mortgage Corporation, a national Mortgage Banking company specializing in residential mortgages, has made the decision to switch from Intuit Quickbooks to the Loan Vision accounting software for mortgage banks with plans to go live on the platform in September.
“US Mortgage Corporation performed an extensive analysis of its options for new accounting software before joining the Loan Vision family. This was a big decision for them,” said Martin Kerr, President of Bestborn Business Solutions. “I prefer it when a prospect looks deeply into the capabilities we offer and those offered by our competitors before making a decision. When they take the time to do this, it’s rare that they do not choose Loan Vision. I’m very pleased to welcome US Mortgage Corporation into our growing family.”
“The way this industry is set up, you really need something that’s able to drill down on a loan level basis,” said Scott Milner, President of US Mortgage Corporation. “So accounting software that doesn’t even understand what that means wasn’t going to be practical for us. We went with Loan Vision because it was already in the Cloud, it will be much more integrated with our other Microsoft Suite of services and it will provide quicker calculations and give us a lot more flexibility from a reporting standpoint.”
Milner said his team made its final decision based on three criteria they determined to be most important. First, the company needed a tool that was mortgage specific. Second, management wanted a tool that would provide real time information to senior managers and branch managers. Easy online access to the system was something that the company did not have but wanted. Finally, US Mortgage Corporation wanted a tool that would make it easier for the company Treasurer to provide senior management with actionable information based on company data.
“It was an extensive process,” Milner said. “When you are changing accounting software, you hope to do it only once so you want to make the right decision. We found what we were looking for in Loan Vision. In hindsight, I really wish I had made this decision years ago.”
“We were in discussions with US Mortgage Corporation for quite some time,” said Carl Wooloff, Business Development Manager for Loan Vision. “The company was very careful and we respect that. As more companies come aboard, the Loan Vision decision is becoming much easier for companies to make. Anyone considering a switch should visit with one of our customers. They generally say that they wish they had switched sooner.”