The Mortgage Office Software Reviews

The Mortgage Office Software Reviews

User Review Highlights

Overall Rating

4.84

Ratings Breakdown

Secondary Ratings

Ease-of-use

4.5

Customer Support

5

Value for money

4.5

Functionality

5

  • icon"I have been using this software for 10+ years and I love it. This software makes servicing easy."
  • icon"We are not utilizing all the modules. But their integration of ACH, emails, Text messages are very helpful."
  • icon"I really appreciate how easy this software is to us. I also love that I can log in from anywhere."
  • icon"For odd loans/transactions it may be customized but the cost can be high."
  • icon"Lack of convenience of compiling loan documents to be emailed directly to notaries."

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Showing 1 - 25 of 243 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

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

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.

Heather

Company size: 11-50 employees

Industry: Banking

Time used: Less than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

September 2022

Multiuse, Multilevel Software

The Mortgage Office is such a great software backed by a great experienced team. The software is innovative and always makes your process easier and quicker. This also happens with the team behind the scenes. When any issues arise, the support team is on top of it. As our company grows, so do our software needs and this is a cause for continuous training. [SENSITIVE CONTENT] and her crew are amazing! The in person training is totally worth the trip! You are able to customize the training to really dive deep into the topics that interest your company. Ramiro has all the tips and tricks to save time and being able to pick his brain about TMO is a real treat! The hospitality here is unmatched !

Pros

This software allows you to customize to fit your own needs. It is capable of tackling complex setups with the different tools available. Very user friendly. Where we would spend hours in just creating and sending letters and notices, the mortgage office fast tracks this and many other tasks by using its custom letters capability. Time saver!

Cons

At this time, Lucro is fully satisfied with this software

Joshua

Company size: 2-10 employees

Industry: Real Estate

Time used: Less than 12 months

Review Source: Capterra

EASE OF USE

3

VALUE FOR MONEY

3

CUSTOMER SUPPORT

2

FUNCTIONALITY

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.

Christie

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

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

September 2022

Daily user of TMO here

The Mortgage Office has made my job efficient in ways other programs could not.

Pros

I could not do my job without The Mortgage Office. I work with TMO as a Lender Service Provider to service approximately 30-40 credit unions. Our customers rely on a software that is reliable, accurate, and can handle many different loan types. TMO provides my company with all the tools we need to service a variety of needs. TMO also provides a number of different reports that help us work with accounting teams. Our company services participation loans and TMO makes the process simple. The software is easy to use and the help file is there for any questions you may have. They also have a great support team and always have a quick response time.

Cons

No complaints here with The Mortgage Office

Richard

Company size: 11-50 employees

Industry: Real Estate

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

November 2022

A+ 10/10 Software

great, I love the seminars and support team.

Pros

The support team for TMO is great, they spent hours on the phone with my team to help resolve technical problems we had. No software I've used (personally and professionally) offered this much support. We had a TMO support person on a zoom call for almost 2 hours with my boss, colleague, and IT team. I would highly recommend TMO; their support team makes the software easy to use even for novices.

Cons

Some excel report version of reports TMO can generate have odd formatting, due to being PDF to XLS exports. However, this can be easily resolved by editing the excel on your own after export.

Emily

Company size: 2-10 employees

Industry: Non-Profit Organization Management

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

November 2022

Great Product for what is was designed for!

Pros

Once you get a handle on the product, it is very easy to use and navigate. Lots of helpful reports and tips and tricks to making loan servicing a lot simpler.

Cons

I do feel as though it takes a little time to get a handle on how to use and navigate the program. Especially if you're just getting your feet wet in this type of programming or industry.

Lynnora

Company size: 2-10 employees

Industry: Accounting

Time used: Less than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

October 2022

TMO Review

TMO is the first program that I have used for loan services and feel this is the best there is. The TMO team is very helpful and will work with you when you are in need of assistance, without complaint ;-)

Pros

The software is very user friendly. The TMO staff is always willing to help with a smile on their faces.

Cons

There is no way to remove closed loans from the listings and from web listing (USIO).

Adam

Company size: 51-200 employees

Industry: Real Estate

Time used: Less than 6 months

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

November 2022

Professional software

We need an all in 1 servicing software for 10,000 unique accounts, this software can help automate and streamline the servicing process.

Pros

This software has all the functionality you will need.

Cons

We have a complex migration from various old systems to TMO, it is a process to get the data converted.

Reasons for switching to The Mortgage Office

Needed the most robust software available.

Murphy

Company size: 11-50 employees

Industry: Financial Services

Time used: Less than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

October 2022

Amazing product

Pros

This product is easy to use, and has an amazing support staff behind the product who will help every step of the way.

Cons

I cannot think of anything that I do not like.

Kelley

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

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

October 2022

New User

Pros

As a new user of TMO, I find the training and support to be top notch.

Cons

As a new user, I do not have any feedback in this category at this time.

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

EASE OF USE

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

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!)

Amy

Company size: 11-50 employees

Industry: Real Estate

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

March 2021

Ease of Use for Servicing Residential Loans

Over the last 13years we have grown our business with The Mortgage Office. I appreciate the support team when we have questions or issues. We enjoy the Print & Mail service for 1099/1098s. The Custom Letters and Reports feature which utilizes Word's mail merge features.

Pros

From setting up a loan to applying payments and running escrow analysis. The software is full of features- Adjustable Interest Rates connected to WSJ - Not a Problem! End of Year Statements and 1099/1098s - Not a Problem! One of the Best Features is the Portal for both lenders and homeowners. Homeowners can make their payments on-line too!

Cons

It would like to be able to add the insurance information on the portal. The portal has continued to expand over the past years. I really like the 1099 and 1098 information being available on the portal.

Reasons for choosing The Mortgage Office

The demo and the features!

Reasons for switching to The Mortgage Office

We switched for the verbose options offered by TMO, the support team, the high quality reports and the credit reporting module.

Erika

Company size: 2-10 employees

Industry: Real Estate

Time used: Less than 6 months

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

July 2021

Extraordinary

Five star experience. TMO is like staying at a nice hotel. Your expectations are exceeded, you're met with exceptional customer service, and you're confident and comfortable.

Pros

TMO takes away a lot of the manual work required with our previous software. Productivity is important to us. This automates, simplifies, and clarifies borrower payments, lender disbursements, escrow management. It's incredible. Integration was definitely a project but only because of our starting point. We were operating so chaotically to just get by. The support team was incredibly helpful and still is incredibly helpful. If I could only list one reason why I'm happy with TMO, it would be support. So responsive, so knowledgeable, and friendly.

Cons

Integration was definitely the most difficult part. The software we used before was absolutely the reason it was difficult.

Reasons for choosing The Mortgage Office

Eric, our salesman, was very knowledgeable and approachable (we ask A LOT of questions). We enjoyed the demo, the promises of support (this promise is being upheld greatly), and the professionalism of each team member we met. I really cannot say enough about the support team. They are wonderful. Each day that goes by, we look up and realize that we love TMO more and more. So many times we've said "how did we do this before?" It's astounding. Choose The Mortgage Office. It's so worth it.

Reasons for switching to The Mortgage Office

NoteSmith was great and cost effective when we were servicing a few notes, but as we've grown, we've needed more consistency and user-friendliness.

Nordany

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

EASE OF USE

5

VALUE FOR MONEY

4

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

April 2021

Flexible Software

I have experienced worst after testing four other loan software. This is the best so far.

Pros

It a spreadsheet format for customers' main screen which is downloadable to Excel. Allows for flexibility of how data is displayed through "Smart Views." Though one would need help from Support to figure out the correct string to use. It allows for credit reporting, which a lot of our customers want.

Cons

The base Loan Origination module does not allow for payments to be divided monthly evenly if the first payment due date is not 30 days from contract signing. Tends to create balloon payments for that reason. One could pay to add another part to the software to take care of that issue. But in addition to paying for the upgrade one also pays 17% of that purchase price quarterly. Which leads to another minus of increased monthly cost the most modules are added. This is true of any additions one makes to the software, whether ACH processing modules or Loan Origination module etc.. So, it really increases the monthly costs of the software, after initial purchase price, the more trimmings you want with it. It is a good software, But, make sure to take into account not just the initial cost of all modules but also the extra monthly 17% or so of the purchase price that will have to be paid.

Reasons for switching to The Mortgage Office

Other software were not as flexible with reports and did not allow for credit reporting.

Julie

Company size: 2-10 employees

Industry: Banking

Time used: Less than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

June 2020

Just getting started

The biggest problem we've solved is a significant decrease in the amount of time it took to process payments. Our old system would take almost an entire day to move funds and notify participants, and now that can be accomplished in a matter of minutes.

Pros

We've been using this product for about 18 months. It has streamlined our payment processing so much - we're much more efficient now, which is always a good thing with a small company. The system is able to handle participations in an almost seamless manner.

Cons

While quite a bit can be customized, we're having some challenges customizing some reports for our participants based upon the overall portfolio. And I wish there was a better way to handle a mid-cycle interest rate change.

Reasons for choosing The Mortgage Office

We choose The Mortgage Office for its capability in processing payments, in handling participations, the expected ROI, and because of the people that support the product. Is it perfect? No, but with the enhancements that are being made it's getting darn close!

Reasons for switching to The Mortgage Office

We needed something much more robust.

Jason

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

EASE OF USE

4

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

September 2019

Overall A quality software with minor amendments required

Very good. I would recommend it highly over the other options available on the market.

Pros

The software is the most comprehensive software on the market without going to customization. For a small to medium-size firm, I would highly suggest this to be your best solution.

Cons

There are certain issues with the software which should allow a bit of customization. In the mortgage industry, there are unique cases all the time, the software limits certain items rather than allowing the user to customize the options. There is typically a workaround, however, giving the user a bit more freedom would have been preferred. However, it is still the best non-custom software on the market.

Reasons for choosing The Mortgage Office

Ease of use

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

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5