The Mortgage Office Software


 

The Mortgage Office is a loan servicing solution designed for companies of all sizes. It offers loan tracking, payment processing, document storage, workflow automation and reporting functionalities within a suite. The product is available both in cloud-based and on-premise deployment options and caters to hard-money lenders, loan servicers, note servicers, cities, municipalities, banks, credit unions and private lenders.

The Mortgage Office features loan tracking, which allows users to track loan charges, interests and advances. Users can also assign multiple funding sources for loans and send automated emails for borrower bills and statements.

The Mortgage Office features adjustable rate mortgage (ARM) tools, complies with the Real Estate Settlement Procedures Act (RESPA) and offers QuickBooks integration. This integration allows users to automatically export data and prepare accounting reports such as accounts payable, accounts receivable and bank reconciliation.

 

The Mortgage Office - Borrower screens
 
  • The Mortgage Office - Borrower screens
    Borrower screens
  • The Mortgage Office - Conversation log
    Conversation log
Supported Operating System(s):
Windows 7, Windows Vista, Windows XP, Mac OS, Web browser (OS agnostic)

118 Reviews of The Mortgage Office

 

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Showing 1-1 of 1

G from BGW Mortgage, Inc.
Specialty: Hard-Money Lenders
Number of employees: 2-10 employees Employees number: 2-10 employees

August 2017

August 2017

The Mortgage Office

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Pros

Customer Support is always there to help whenever it is needed.
Good value for the money.
Software is extremely versatile, and is easy to use.

 
 
 
Showing 1-20 of 117

Chandler from Commonwealth Capital
Number of employees: 2-10 employees Employees number: 2-10 employees

September 2017

September 2017

Does everything you need it to do, and with a streamlined interface.

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Ability to focus on core business functions while still maintaining portfolio awareness.

Pros

Contains all necessary functionality and automates many day to day tasks. Reports and customization options gives you a quick way to find what you need to find rapidly and present those findings in a coherent manner. It does what it is supposed to do flawlessly.

Cons

Accounting interface to QuickBooks is new and limited in functionality. The initial implementation was a large amount of work and required tweaking once the data was in the system, but that is more or less par for the course with any new software.

Source: Capterra
 

Carol from August REI Inc
Number of employees: 11-50 employees Employees number: 11-50 employees

August 2017

August 2017

We love TMO, we use it all day, every day

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Ability to service more loans, this program helps track everything we do as a team, lates, payments, interest rate changes, multiple lenders, multiple vendors, fractionalized notes, credti reporting, IRS reporting, online access for borrowers and lenders, and on and on and on.

Pros

This program makes servicing thousands of loans possible. So many reports available to our lenders and borrowers. It tracks everything and allows us to report to credit. We love it and so do our clients and customers.

Cons

It's expensive, initial costs and monthly fees but it does so much of what we need. The only feature I have trouble with is the customized reports.

Source: Capterra
 

Angie from Member Business Solutions
Number of employees: 11-50 employees Employees number: 11-50 employees

August 2017

August 2017

From what I've seen, the system will make our jobs much easier!

Ease-of-use

Functionality

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Once we get up and running, the time savings for our job processes will become more streamlined and also help in the reduction of errors since we will be processing in real-time. Also, the reporting is fantastic!

Pros

The real-time functionality. Our current system is a batch process which takes place over night. The system also is much more user friendly than our current system we are leaving.

Cons

Due to our complicated structure of loans, it seems as if we may have some challenges with using the commercial/construction modules. However I have no doubt we will figure things out.

Source: Capterra
 

Markie from Ingram Real Estate
Number of employees: 2-10 employees Employees number: 2-10 employees

August 2017

August 2017

The reports are easy to read. Customers love the new receipts and format.

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Pros

Customer support is awesome! The response time is very quick and they are patient and make sure all aspects of the issues are resolved.

Cons

Voucher checks are not complete when printed. Also not able to tell when a payment is a check, MO or cash on payment registrar report.

Source: Capterra
 

Kip from Aegis Funding

August 2017

August 2017

TMO is the gold standard for private money loan origination and servicing

Ease-of-use

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Pros

the software is easy to use, customize-able and easy to add and edit forms. Most of the applicable fields are readily available

Cons

the cost is a little high as there is little to no competition in at this level. It would be nice if the system could be web based or apple compatible.

Source: Capterra
 

Brett from Bankers Mortgage Lending
Number of employees: 11-50 employees Employees number: 11-50 employees

August 2017

August 2017

When you tried all the rest and are ready for the BEST !

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It has allowed me to continue servicing loans in house properly.

Pros

Easy to configure, easy to use, does everything that a lender servicing loans could ask for and has so many different capabilities allowing you to buy only what you need for your business.
Nothing negative to say, it's the best servicing software I have purchased and I have bought 3 before this purchase.

Source: Capterra
 

Amanda from Thrive Lending LLC
Number of employees: 11-50 employees Employees number: 11-50 employees

August 2017

August 2017

This new software is very comprehensive and will streamline our loan servicing.

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Streamlining our Servicing Procedures. Saving ample amount of time running invoices and reports manually.

Pros

That it allows my company to have a central database to view our portfolio in real time. I like that I have the ability to set the security for each user. I love that I can see an overview of all of the loans when i open the program as well.

Cons

Its a learning process, and it will take me some time to understand all of the functionality of the software. I am the only person that is setting up our portfolio, and I am really relying on the Help function, as well as customer support.

Source: Capterra
 

Robert from Abbey Mortgage & Investments, Inc
Number of employees: 2-10 employees Employees number: 2-10 employees

August 2017

August 2017

Owned for over three years. Very complex, Updates routinely have major bugs. Understaffed Support.

Ease-of-use

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We service a private loan portfolio and prepare 1098 forms for borrowers. This has worked well in the past, but current bugs are causing concern that the 1098 forms will need to be double checked during the very busy month of January.

Pros

The concept and theoretical flexibility of the software is really cool. The reports are generally well formatted. Borrower communication options are varied and allow easy email, but the calculations need to be correct.

Cons

Very complex, takes months to learn to use. Easily allows problem entries. Support is pleasant, but lacks everyday use knowledge. 4 to 6 steps required for tasks like simply advancing interest on a construction loan. Tracking of % complete and % disbursed on construction takes longer in The Mortgage Office than in a simple Excel spreadsheet. Over the last year the whiz bang modules that they are adding look great, but as updates occur with the main, modules of servicing, the lack of testing is clear as each update precipitates major bugs which cost my staff scores of hours. Customer service is helpless as they are not prepped for the updates and typically don't have the operating expertise to comprehend the full scope of the problem. , but they are nice people. Support calls are seldom answered within an hour. Typically it's about a 24 hour turnaround, with a call to us (Mountain Time) just about the time my staff is walking out the door.

Source: Capterra
 

Chris from Hard Money Bankers, LLC

June 2017

June 2017

It's the flagship software in our industry and I can say it definitely makes us more money

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Pros

It makes our company money in a few ways: 1) ACH payments to investors and accompanying notification by email. Every week when we send out interest payments, investors reply and offer to send us more capital. 2) Timely borrower payments. The paper and email payment coupons plus being able to pay by check or ACH ends up collecting a higher percentage of payments than we would get prior to using TMO. 3) Reporting. We're able to keep a close eye on our portfolio which is very useful for managing defaults but it also allows us to keep good client data in front of our sales people that they turn into more loans.

Cons

A web-based system would be much more convenient as remote access is tricky. We would also add a couple users if the cost were a bit lower.

Source: Capterra
 

Christina from Private Capital Northwest
Number of employees: 2-10 employees Employees number: 2-10 employees

May 2017

May 2017

Very user friendly

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

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Quality
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Pros

Ease of use.
Layout and design.
There is so much to learn about the software it will take me a little more time to absorb it all.

Source: Capterra
 

Scott from Millennial Capital Management

March 2017

March 2017

Surprisingly Impressed

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Ease-of-use
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I am rarely impressed with new application specific software, most of the time the developer has not considered the many facets and nuances of the industry or its participant's workflows and as a result has a generic product that is 80% effective. After exhaustive searching, demonstrations, and trial periods, The Mortgage Office was the most logical choice for us. I have been through many enterprise software Implementations, and all of them were time-consuming and frustrating, I can say The Mortgage Office is easier than most. Support is knowledgeable and responsive. There are many customizable features which is great; but also takes some time getting familiar with them all to make it operate the way you want. Overall we have been very happy with the results, our servicing time has decreased by more than 50% and at the same time accuracy has improved.

Pros

Great Customer Support, Reliable, Accurate

Cons

Customized reports are difficult, no cloud-based option

Source: Capterra
 

Simon from Precision Capital
Number of employees: 11-50 employees Employees number: 11-50 employees

February 2017

February 2017

A strong tool

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Ease-of-use
Usability
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Quality
Value for Money
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This is a powerful and useful program. In my old job, I serviced 60-80 active loans at any given time using work-arounds in Excel. It was a little stressful and time consuming with Excel. Now, in my new position, I comfortably service nearly 200 (and counting) active loans. The icing on the cake is the great customer support. They are very patient and really take their time walking you through your needs and questions. I highly recommend taking the two day training seminar at their offices after you've been using the program for six to twelve months.

Source: Capterra
 

Dale from Lake City Servicing
Number of employees: 11-50 employees Employees number: 11-50 employees

February 2017

February 2017

Very Pleased

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Ease-of-use
Usability
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Quality
Value for Money
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I began working with a new Loan Servicing company about 1 month ago. The TMO system has been very user friendly. I recently went to the 2-day training seminar and was able to get a better understanding of the system and how to better utilize its capabilities within my organization. The software and the personnel that support it are very accommodating.

Pros

Easy to navigate

Source: Capterra
 

Annette from Capital for Change, Inc.
Number of employees: 2-10 employees Employees number: 2-10 employees

February 2017

February 2017

The software is so stable, I never experience downtime.

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Ease-of-use
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Functionality
Functionality
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Quality
Value for Money
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I've been using The Mortgage Office for 5 years. My monthly invoicing process went from being a 2-day challenge to a 2-hour piece of cake. My support needs are rare, but I still run into an occasional problem because I have entered something wrong and can't find it myself. Invariably the support staff is readily available, responsive, competent, and dedicated to getting me back on track. Plus the software is so stable, I never experience downtime. Just a great product.

Pros

Reliability. I trust TMO to keep accurate, consistent records

Cons

The first month billing can't be longer than 30 days. We usually do not invoice our borrower until the end of the first full month following closing, so there is often a 32-60 day gap. If we don't send out an invoice at the end of the month in which the loan closes, the borrower's billing statement reports them as late.

Source: Capterra
 

Michelle from The Boyd Company Realtors
Number of employees: 1 employee Employees number: 1 employee

January 2017

January 2017

We Passed Our Audit!

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Ease-of-use
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Quality
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Support

We were recently audited by the California Bureau of Real Estate. The auditor came into the office, realized we were using The Mortgage Office for all of our loan servicing, asked for specific reports (because they were so personally familiar with the software) and never asked another question! They trusted our information, knowing fully that the software would report any discrepancies in our business practices. Audits are so stressful but because we used this software, it was a BREEZE! And so nice to know that a state agency fully trusts it as well.

Pros

This software KNOWS the business of loan servicing

Cons

Tech support is wonderful but trying to find solutions to your questions on your own can be very difficult. The help functions are not thorough

Source: Capterra
 

BJ from Rural Nevada Development Corporation
Number of employees: 2-10 employees Employees number: 2-10 employees

January 2017

January 2017

Short Time User

Ease-of-use

Functionality

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Our organization has been utilizing "The Mortgage Office" for loan tracking for a total of 11 days. Even though we are a short time user, the setup was very easy and understandable. Processing loan payments are quick and accurate (as long as all your dates are correct). The training we received in December before implementation was very useful and assisted in the original setup of the product. We are still learning all the reports and functions but support has been great in assisting and we are currently working with them to possibly create a custom report for our use. Once we completely understand all the features this software will be a great benefit to our organization.

Pros

Ease of use

Cons

The difficulty of customized reports

Source: Capterra
 

Noemi from First Source Mortgage Corporation

January 2017

January 2017

Makes Mortgage Administration a Snap!

Ease-of-use

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Support

Great quality customer support. They really take the time with you. There are no silly questions. Very easy and intuitive software.

Source: Capterra
 

Tim from Building Hope...A Charter School Facilities Fund
Number of employees: 11-50 employees Employees number: 11-50 employees

December 2016

December 2016

TMO is an awesome product and I wish we had invested in it sooner.

Ease-of-use

Functionality

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Value for Money

Ease-of-use
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I haven't had one bad experience with TMO. The training was fantastic.The customer service is great. The flexibility of the product is outstanding. I highly recommend this product to anyone looking for well-designed loan servicing software.

Pros

The flexibility it offers. I can track all sorts of loan detail with it.

Cons

Would love it more if it offered a little more Loan Origination functionality.

Advice to Others

I really enjoy the software.

Source: Capterra
 

Courtney from Rural Nevada Development Corporation

December 2016

December 2016

Very Excited to Begin!

Ease-of-use

Functionality

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The training on the database was very informative, easy to understand, and overall was a great experience! It seems to do just about everything and is going to be very helpful!

Source: Capterra
 

Milena from Neighborhood Housing Services of Los Angeles County

December 2016

December 2016

The Mortgage Office is a great software!

Ease-of-use

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Value for Money

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This software really helps in managing our loan servicing at my company. It's features and functionality are easy to customize for our business purposes. Their customer support specialists are the best whenever I need some assistance or have any questions. Thank you for such a great product and customer service.

Source: Capterra
 
 
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