The Mortgage Office Software

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About The Mortgage Office

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 Procedur...

The Mortgage Office Pricing

Contact The Mortgage Office for a quote

Starting price: 

$595.00 per month

Free trial: 

Not Available

Free version: 

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The Mortgage Office User Reviews

OVERALL RATING

SECONDARY RATINGS

Ease-of-use

4.5

Value for money

4.5

Customer support

5

Functionality

4.5

Showing 1 - 5 of 220 reviews

User Profile

Anisa

Verified reviewer

Industry: Financial Services

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered
5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

March 2018

Long time user, first time reviewer. Stable, reliable tool. Strong support. Clean audits.

For what's out there, this tool works well. As far as I can see there is no holistic product that manages the lending side of a MIC, the capital side of a MIC, robust and standard accounting tasks (financial statement generation) and exempt market issuance. But this one works really well at getting me data that can be imported into the accounting system with minimal fuss and high accuracy. The more we use it and learn about it, the more time this tool creates for our MIC team.

Pros

Really like the ability to save customize fields and save query views as spreadsheets. Really like the ability to save reports and letters as spreadsheets (or .pdfs through the platform vs. via print to .pdf menus). Good audit trails for reports, changes, statements, etc. We're now learning how to better manage dates to result in reports that balance to our accounting program -- pretty good. Would have loved to have known that sooner. Support team are on site with the company and are well informed as to how the platform works -- pretty decent turnaround time for a company on the other side of the continent. I have a healthy respect for the support team's skills and knowledge.

Cons

Would love to have a hosted customer wiki or bulletin board where users could share tips and tricks. Would love to receive an email weekly with tips and tricks, did-you-know, or other implementation hints. Would love more information about stuff like how custom fields are added to the merge field list in custom letters -- using for years and just learned this. Tell us more about the nuances for customization and let us talk to each other and I think you'll have users for life.

Audrey

Company size: 2-10 employees

Industry: Financial Services

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered
5

Ease-of-use

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

April 2020

No software is perfect...but this one is pretty close....and the customer support is top notch!

We have had a huge time savings using The Mortgage Office. ACH file is automatically generated at the click of a button. Loan payment input is simple. Monthly reports to our Lenders are generated and emailed right from the system. In the past we needed to scan the reports and e-mail them to the right people using our old system.

Pros

The software makes applying loan payments a breeze. We utilize ACH Express to remit monthly payments to our Lenders. That process is relatively easy. The creation of the NACHA file automatically by the system has saved us so much time. We used to have to manually load up that information, opening us up for human error.

Cons

The clickable items on the left had side of the home screen are a little clunky. We tend to use Tasks & Reports the most, and I find sometimes I have trouble finding it as it is a good way down the list and doesn't stand out.

Reasons for switching to The Mortgage Office

The customer support people at LoanLedger were horrible to work with. The treated us as if they didn't need our business. They were rude and not helpful. I complained several times to their management and nothing changed. In addition to the lack of support, there were too many glitches with their product. (which is why we were constantly calling for support!)

Gwen

Company size: 2-10 employees

Industry: Government Administration

Time used: Less than 6 months

Review Source: Capterra

This review was submitted organically. No incentive was offered
5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

October 2021

Experienced Professionals

We are transitioning from a "manual" loan servicing process utilizing excel spreadsheets to this automated loan servicing solution and are looking forward to gaining efficiencies with this robust software.

Pros

The software is comprehensive and captures both loan servicing and corresponding trust accounting transactions. The company's customer relations, sales, support and training staff are amazing professionals. They set this company apart from its competition.

Cons

We conduct annual reviews on our loans and it would be great if the software could capture spreads of tax returns and financial statements to have all of the financial data, insurance and collateral information in one repository.

Reasons for choosing The Mortgage Office

Cloud hosting option, value and TMO professionals.

Joshua

Company size: 2-10 employees

Industry: Real Estate

Time used: Less than 12 months

Review Source: Capterra

3

Ease-of-use

out of 5
3

Value for money

out of 5
2

Customer support

out of 5
5

Functionality

out of 5

July 2016

Great Product / Weak Service

The sales pitch was outstanding. If you want to get someone on the phone from the sales team, boom - they're on. The software itself has been a godsend. We were doing all of our statements on Word and Excel, and we would spend ours getting everything right. As we've grown in size (we have over $150 million in loans outstanding now), we almost had no choice to buy software to help manage the behemoth we've become. We sampled some other cheaper software, but The Mortgage Office is clearly the best one out there. That doesn't mean it's perfect - I am not a big fan of the statements the software generates. For example, on an investor statement, the "interest paid in 2016" box at the top right of the statement shows the gross interest paid. I essentially want it to show the net interest paid (interest less servicing fees). There is an option to do that, but then the statement hides the servicing fees we charge our investors. I like to be transparent and show our investor what they are getting net, but also show them the servicing fees. To get this done The Mortgage Office wanted to charge huge sums of money to customize. I am also not a big fan of the investor statements in general, there are a lot of aesthetic issues that need to be fixed, but they refuse to do it unless I pay them. Regardless of the minor issues described above, the software is good and worth the money. My biggest gripe is with customer support. When you get the support team on the phone, they are incredibly polite and knowledgeable, and always solve my problems. I would give the 5 stars if I could. The reason I am giving them 2 stars is not because of them, they are great. They are just incredibly understaffed, and I've never gotten one of them on the phone. I have to leave a message, and they rarely get back to you same day. It usually takes 24-48 hours, which is just absurd in our business. I even told one of the owners that I am willing to pay a much higher monthly fee (it's about $175 per month for service) if they could staff properly and have people pick up the phone when you call. I would seriously pay about $500/month to make this possible. I am running a $150 million business, and I need to know that I can reach someone within minutes when I have a time sensitive question. This is the reason I would most likely not recommend this product. If they can resolve this issue I would give the company all 5 stars.

Pros

Great tool to track loans, monitor loans, produce useful reports, produce borrower statements that are accurate, produces decent lender statements, the customer service reps are very helpful and knowledgeable, the software is relatively easy to use once you really study it.

Cons

IMPOSSIBLE TO GET CUSTOMER SUPPORT ON THE PHONE - PLEASE RAISE MONTHLY SERVICING FEE IN ORDER TO HIRE MORE STAFF. I WILL GLADLY PAY MORE IF I KNOW I CAN GET SOMEONE ON THE PHONE RIGHT AWAY TO ANSWER A TIME SENSITIVE QUESTION, AS OPPOSED TO WAITING 24-48 HOURS FOR A RESPONSE.

Eric

Company size: 11-50 employees

Industry: Financial Services

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered
5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

September 2021

Top-knotch product

It's been spectacular.

Pros

It's a great platform. What I like most is the developers are constantly making valuable improvements to the software. When new releases are launched, all involved are excited to see the new features. We've seen the software evolve in the last 10 years and it is now just as good, if not better than the most expensive products available. As a loan servicing company, we've seen data arrive from other servicers who utilize different software providers and we can quickly distinguish that TMO is a far superior product. We also utilize a lot of custom SQL scripts that make large edits extremely easy to do. The escrow module is second to none.

Cons

There is a small learning curve and it did take us some behind-the-scenes SQL customizations to accomplish our goals. I have nothing negative to say, it's truly the best.

Reasons for choosing The Mortgage Office

I have considered exploring other products but ultimately discovered no competitor was capable of handling escrow as well as TMO.

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