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.



148 Reviews of The Mortgage Office

Overall rating

4.83 / 5 stars

Filters:

Showing 1 - 20 of 148 reviews

March 2018

Anisa from Advanced Capital Corp.

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 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.

April 2015

Evan from USI Servicing, Inc.

Review Source: Capterra


Ease-of-use

4 of 5

Customer support

4 of 5

April 2015

Robust loan servicing package with institutional scalability

1: We have found TMO to be highly functional. TMO performs core loan servicing very well. The development team has a deep understanding of the private lending business. The learning curve is steep, so I recommend the 2 day course which is well worth the money you will spend and the time you will save by not doing things incorrectly. The compiled help is a great reference guide for intermediates or advanced users and is well maintained. 2: We have found TMO to be scalable. One of our requirements was deploying the software across multiple physical locations. Although we encountered initial hiccups in set up, these were due to MS Office (MSO) 2010's default security settings (TMO relies upon MSO to create its attachments via mail merge). Once our IT team pinpointed the MSO security settings issue (which was quite intricate and required updating registry keys), we were able to effectively scale to 2 client workstations in 1 physical location pointing back to a SQL server at an off-site data center. The option of upgrading to the SQL version (available as another add-on 'module') gave us the confidence in the beginning when we first purchased the JET (MS Access) version that the software is robust and scalable. Our SQL upgrade and proof of concept across multiple physical locations confirmed the software is robust and scalable, and this area of functionality has performed well for us. The SQL migration tool that ABS provides made the transition fairly seamless. 3: 'Sustainable' means the software should have a long shelf life and be upgraded on a regular basis. In our 3 years there have been numerous upgrades although some were unfortunately forced, and I can't recall much new functionality being added ' most of the updates were patches or new functionality for Loan Origination or other modules we were not using. However, the platform has been around (and augmented) for 30+ years. In summary, I think the software is robust and powerful, and I give the software development team top marks in creating and maintaining an excellent product. Also AJ Poulin their VP of Sales is a pleasure to deal with, is well respected in and has deep roots in the private lending industry, and has a lot of integrity.

February 2017

Annette from Capital for Change, Inc.

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

February 2017

The software is so stable, I never experience downtime.

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.

November 2016

Megan from SFA Commercial

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

3 of 5

Customer support

2 of 5

Functionality

4 of 5

November 2016

Almost perfect

After years of searching, I was thrilled to discover a software designed with by business in mind. The ease of purchasing and installing the software was remarkable. The amount of customizable features and the power behind this software sold me almost instantly. I am a heavy user of the construction module, and there are no options for training in this module which seems odd to me. We went to the training in CA. and learned some general tips and tricks, but were not able to gain any further knowledge into the construction module which is why went in the first place. It's very difficult to get a hold of the support line. You never get through to anyone when you call. If you opt for sending an email, you typically get a call back within the same business day. The downside is that now I am in an epic game of phone tag trying to get my software functioning and have no idea when this might be resolved. When I do have the opportunity to speak with someone I am so happy with the customer service. Bottom line I would recommend this software, but make sure you're not in a hurry to implement it.

Pros

Ease of purchase and installation. I can customize everything and anything. The math computations are accurate and also custom to your specific needs.

Cons

It's difficult to get support staff on the phone and sometimes end up in a phone tag scenario.

April 2014

Richard from R.C. Temme Corporation

Review Source: Capterra


Ease-of-use

5 of 5

Customer support

4 of 5

April 2014

ABS-TMO Loan Service Software

My mortgage company invested in the ABS loan service software in 1981. We were lucky to have originally selected ABS because, through the years, they have outperformed the other companies we've examined, that have developed along the way. ABS has continued to frequently upgrade not only their programs but the software and systems that drive their loan service software, TMO. I've been very happy with the customer service; however, some of our employees have on occasion expressed a desire for higher levels; in fairness, I believe the ABS customer service is above the average of most software companies with which we've dealt. Accommodating convenience and ease of use is strong. ABS allows huge volumes of supporting files, loan documents, appraisals, ETC, to be available at a click from within a specific loan file; more important is that the method they've designed does so without noticeably slowing the system. ABS appears to have strived to accommodate requirements of the many new loan servicing regulations as they have developed in recent years. Although, we have worried about ABS meeting some of the required loan service deadlines and on a few occasions began developing work around procedures in case the programming changes were not made in time. In the end, our concerns were unnecessary and ABS delivered by the regulatory deadlines. Note: The software agreement is unusual; potential clients should carefully read and understand the agreement which is easy to inadvertently violate by accessing the program from a home or other remote connection unless a single laptop is used in all locations in conjunction with a single dedicated terminal server. In the end, the negative issues mentioned herein are relatively small in relationship to the overall quality and ease of use of the product and of the company's history of updating the quality and performance of their systems as well as accommodating the required regulatory changes. I have not seen another system I'd rather have; even at a much higher price.

December 2016

Brett from Bankers Mortgage Lending

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

December 2016

Should've bought it years earlier!

I've used different loan servicing products over the years, and The Mortgage Office is hands down light years ahead of other systems I would know because I purchased and used 3 other products! Each one I bought was mainly based on cost (they were cheaper). I really wish I had bought The Mortgage Office the first time around. It's very easy to use, the tech people are fantastic, and it's a robust system that has bulletproof calculations and does everything a private lender could ever dream of. Whether running statements or filtering loans by type, everything is just a click or two away. I am very happy with this software great product, great company, great time in place. I highly recommend it for anyone servicing loans it's a great value.

Pros

It's a powerful product that I love using every day. Very, very happy.

December 2017

Sandra from Southern Title

Company Size: 51-200 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

December 2017

Complete & Powerful Software Program with add on Modules giving you options to expand your services.

Pros

The software handles all aspects of Loan Servicing within the program. The integration of the different modules makes using the program seamless. I have used several Forms Design programs in the past and the Custom Letters & Reports program is well designed and extremely east to use.

Cons

I have been involved in writing a custom Collection Program, integrating an Accounting Program with other Loan Servicing Software as well as using other Loan Servicing Software for 27+ years and by farm The Mortgage Office is the BEST. To answer your question what I like least about the program is that it is a Massive and covers every aspect of Loan Servicing; which makes it the BEST of programs.

July 2016

Joshua from Tideway Capital Group LLC

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

3 of 5

Value for money

3 of 5

Customer support

2 of 5

Functionality

5 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.

March 2018

Dianne from Pensacola Habitat for Humanity

Company Size: 11-50 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

March 2018

The conversion from our previous software, training and implementation was a breeze.

Efficiencies are key to a great team. This software allows my team to manage the easier aspects of the job quickly and easily leaving them more time to focus on other projects.

Pros

The Escrow Analysis, Payment Application, Conversation Logs, Statements and Past Due Notices. The ability to reformat our communication to customers quickly and easily. The entire software package has made our mortgage management efficient and accurate.

Cons

It's not necessarily a con but would love to have an adhoc reporting tool. Some of the fields have no reporting tools embedded in the software and I would love to be able to pull them out.

August 2017

Carol from August REI Inc

Company Size: 11-50 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

4 of 5

Customer support

5 of 5

Functionality

5 of 5

August 2017

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

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.

April 2014

Jason from Texas Tax Solution

Review Source: Capterra


Ease-of-use

4 of 5

Customer support

5 of 5

April 2014

Quality Product, Excellent Customer Service, Would Recommend to Others

(Note: Capterra only allows a maximum of 2,500 characters for a review. Thus below is only the bullet points. For full details, I have uploaded the full review to the public folder on my Dropbox at: https://dl.dropboxusercontent.com/u/26145970/TMO%20Review.pdf) Summary: Very good product, I would recommend to anyone looking for a simple to use client/server loan servicing solution. Modules Purchased: * Loan Servicing * ACH Express Users: 10 Architecture: Local Client/Server using JetEngine on MS Access Pros: * Rich Functionality - a lot of functionality, probably more than you will need * Customizable Interface - main search grid can be customized by user * Quick Search - you can lookup an account by almost anything in the account record * Document Generation - easily publish statements, coupons, payoff, ets. * Audit Trail - logs important events and changes in an Event Journal * Categories - quick way to add custom fields by which to filter and sort your accounts * Open Architecture - database tables are exposed allowing you to create customer reports * Exporting - can easily access documents and results into Excel, Adobe, or RTF formats * Custom Letters - quickly send customers a custom letter * Customer Support - excellent customer service Cons: * "Old World" Interface - old client/server style interface * "As Of" Reporting - you need to run reports on the day you want them (i.e. on month-end) * Historical Editing - no simple way to edit your loan history without reversing transactions * Licensing Structure - geared more toward mass employee servicing departments * Online Self-Service - none really to speak of * Manual Payments - payments need to be applied manually for charges and fees * Categories - many fields of information are only exposed if you use categories, which requires you to double enter the information

August 2017

Robert from Abbey Mortgage & Investments, Inc

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

1 of 5

Value for money

1 of 5

Customer support

1 of 5

Functionality

1 of 5

August 2017

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

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.

April 2018

Michael from Budget Mortgage Corp.

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

April 2018

Have used this software for 7 years, works very well, we have had very few issues.

Pros

Excellent handling of Trust Accounting. You can sell a loan to multiple investors, assign any percentage you want, and program handles split payments perfectly. have never had a problem with an investor check in 7 years. Customer support is also excellent (although I rarely use it).

Cons

Would like to see a more automated way to print borrower letters and statements by selecting one option (for instance) "Print Today's Letters" rather than printing letters separately.

August 2016

David from First Source Mortgage Corporation

Review Source: Capterra


Ease-of-use

4 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

August 2016

Great Experience

The Mortgage Office has done a great job of adapting for the Canadian Market. The software and support provided for an easy transition for us. Thanks to The Mortgage Office we were able to discard our previous software which had dissappointed us and get up and running with The Mortgage Office in surprising time. Our investors are thrilled with the reports they receive generated by the program.

Pros

It is reliable, generally provides a user friendly experience, is quick to get going and/or transition and provides robust customizable reports which our investors really like.

Cons

The software has many templates with built in functionality which for the most part is fantastic. On the downside it is difficult if not impossible to change some of the reports to add explainations such as a discharge statement or the like.

June 2017

Chris from Hard Money Bankers, LLC

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

June 2017

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

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.

January 2017

Michelle from The Boyd Company Realtors

Company Size: 1 employee

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

January 2017

We Passed Our Audit!

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

February 2018

Anonymous

Verified Reviewer

Company Size: 11-50 employees

Review Source: Capterra


Ease-of-use

4 of 5

Value for money

4 of 5

Customer support

5 of 5

Functionality

5 of 5

February 2018

A true revelation for those in the private money lending industry.

It has given our company the tools needed to service our growing portfolio with ease.

Pros

The flexibility of customizing the various features to fix any private lending business model. The Mortgage Office is constantly evolving and fills many needs all in one.

Cons

It can be costly to get going. There are a lot of different add-on modules that may be needed to get the software to perform what you want it to.

August 2017

Brett from Bankers Mortgage Lending

Company Size: 11-50 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

August 2017

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

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.

October 2017

Mariska from Precision Capital

Company Size: 11-50 employees

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

5 of 5

Functionality

5 of 5

October 2017

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

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.

October 2017

Angela from Foremost Financial Corporation

Review Source: Capterra


Ease-of-use

5 of 5

Value for money

5 of 5

Customer support

2 of 5

Functionality

4 of 5

October 2017

Multiple useful functionalities; increased efficiency of processing significantly.

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.