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)

126 Reviews of The Mortgage Office

 

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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.

Review Source
 
 
 
Showing 1-20 of 125

helen from Socotra Capital

November 2017

November 2017

Wonderful

Ease-of-use

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Pros

I like how this software is pretty straightforward and easy to use. It also has a help button that is useful.

Cons

There are some minor things that it can't do for example, there is no "undo" button when reconciling.

Review Source: Capterra
 

Cecelia from Neighborworks Sacramento Region
Number of employees: 11-50 employees Employees number: 11-50 employees

November 2017

November 2017

I am a new to The Mortgage Office software and the training was very informative.

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Knowing how each aspect of the software to my advantage in servicing my homeowners. The benefit of my homeowner and investors having the ability to review the status of the loan and history. It is also user friendly.

Pros

I like how each aspect of the system work. I like the online service for the customers & investors. The escrow analysis and the fact that the 1098 can be sent out with a service . I also like The Mortgage Office because it is live and not a dinosaur which I am currently using. Not a lot of manual work with the system.

Review Source: Capterra
 

Qiana from BD Capital
Number of employees: 11-50 employees Employees number: 11-50 employees

October 2017

October 2017

My experience has been a pleasant one so far.

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Pros

I like the software many features, as well as the software functionalities. I like that everything is in one place.

Cons

Before the seminar, I thought the software was not user friendly. I don't like that if you noticed a mistake from last month and you have entered 5 entries since then that you have to delete all the entries after and then re-enter everything.

Review Source: Capterra
 

Angela from Foremost Financial Corporation

October 2017

October 2017

Multiple useful functionalities; increased efficiency of processing significantly.

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Pros

It's an integrated program that includes multiple functions, from loan management, to trust accounting, to investor management. The software has excellent accuracy and has been able to increase efficiency of processing at our company significantly. Our company went through several different similar products so far, and this is the best one.

Cons

The software does not easily accommodate different companies' different processes. Anything that differs from a typical business model requires manual workarounds, which can be time-consuming.

Review Source: Capterra
 

Jeje from Foremost Financial Corporation
Number of employees: 11-50 employees Employees number: 11-50 employees

October 2017

October 2017

It was a very productive training

Ease-of-use

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Makes our work much more easier.

Pros

It's very user friendly type of software and easy to navigate. It helps our day to day work much more easier .

Cons

not 100% catered in Canadian settings. it would be very nice in the future to be fully outfitted in Canada.

Review Source: Capterra
 

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

October 2017

October 2017

This software makes servicing our loans so easy, organized and slick.

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The ability to automate and customize so much information and communication with our borrowers and investors.

Pros

The user-friendly interface, custom reports/letters as well as standard ones, amazing customer service and knowledge base makes The Mortgage Office and ideal software in my mind. I wish all mortgage software was this carefully thought out.

Review Source: Capterra
 

Denise from Texstar Ecscrow

September 2017

September 2017

Feeling empowered and confident to start our new loan servicing business with the support of TMO

Ease-of-use

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Pros

I like the visual aspect of the ease of locating the major components of loan servicing which are; loans, lenders, vendors and trust accounting. The All Loans screen gives you all the information in a nutshell. The reports are plentiful to please and dazzle all business partners and owners. My recent absorption of The Mortgage Office was at the two-training course, which is a MUST for all users.

Cons

My least favorite is the business today screen. It's intimidating and has too much information for a new user. So far all I've used it for is for the" Task Pending" information.

Review Source: Capterra
 

Andrew from Texstar Escrow

September 2017

September 2017

Simply the best!

Ease-of-use

Functionality

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Pros

The software is geared for what we do, but is very flexible if we wanted to expand. Support is excellent. Everything is well thought out. Simply the best!

Cons

I would like to use many of the add on modules and features that the software offers, however, as a start up, the costs can be prohibitive.

Review Source: Capterra
 

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.

Review 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.

Review 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!

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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.

Review 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.

Review 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

Functionality

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Value for Money

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.

Review 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.

Review 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.

Review 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.

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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.

Review 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

Ease-of-use

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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.

Review 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

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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.

Review Source: Capterra
 

Scott from Millennial Capital Management

March 2017

March 2017

Surprisingly Impressed

Ease-of-use

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Value for Money

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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

Review 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

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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.

Review Source: Capterra
 
 
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