The Mortgage Office Reviews

The Mortgage Office

4.8 (260)
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Web-based mortgage and loan servicing software

Overall rating

4.8 /5
(260)
Value for Money
4.7/5
Features
4.7/5
Ease of Use
4.7/5
Customer Support
4.8/5
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260 Reviews

Eric
Eric
Overall rating
  • Industry: Financial Services
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

The Mortgage Office is very capable software.

Reviewed on 2018/06/20

Pros

I most value The Mortgage Office's versatility and capabilities. I service many thousands of loans very easily from the software.

Cons

I would say the most troublesome area of this software is related to certain custom reports, you must be familiar with SQL or Crystal Reports to accomplish certain things.

Amy
Overall rating
  • Industry: Real Estate
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Ease of Use for Servicing Residential Loans

Reviewed on 2021/03/19

Over the last 13years we have grown our business with The Mortgage Office. I appreciate the support...

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.

James
Overall rating
  • Industry: Real Estate
  • Company size: 2–10 Employees
  • Used for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 0.0 /10

My experience with the mortgage office

Reviewed on 2020/08/19

It was brutal. We used it for about 1.5 years, and the final straw was when we felt coerced to pay...

It was brutal. We used it for about 1.5 years, and the final straw was when we felt coerced to pay more money or they would disable our access to our data under threat from their lawyers that we breached contract. This formal letter from their lawyer was also how we were notified of this supposed “issue”

Pros

Automated payments
Loan management
Been in the industry a long time

Cons

The software was very rigid
Every support call came with a cost
They threatened to hold our data hostage if we didn’t pay an extra $10,000.00 USD for breach of contract (because we used the software on multiple devices and the contract said we were only able to use it on one pc. (We use virtual pc and work from 3 different office locations)

Alternatives Considered

Mortgage Automator

Reasons for Switching to The Mortgage Office

Mortgage automator wasn’t on the market when we first went with the mortgage office. We now use Mortgage Automator and experience has been much better.
Nordany
Overall rating
  • Industry: Financial Services
  • Company size: 2–10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Flexible Software

Reviewed on 2021/04/29

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

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.

Julie
Overall rating
  • Industry: Banking
  • Company size: 2–10 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Just getting started

Reviewed on 2020/06/12

The biggest problem we've solved is a significant decrease in the amount of time it took to process...

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.

Kevin
Overall rating
  • Industry: Real Estate
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

The Mortgage Office for Servicing

Reviewed on 2021/08/03

No more guess work on interests that are owed especially, on Construction loans, where the interest...

No more guess work on interests that are owed especially, on Construction loans, where the interest is always increasing as the balance is increasing.

The Mortgage Office helps easily keep track of everything so you do not miss out on any interest owed.

Pros

It is really easy to set up and start servicing loans right out of the box. If you do not understand a feature or option, the Support team is always ready and willing to help you out and explain them so you can better use the software.

Cons

At first, it is a lot to take in on how to use the software, but once you learn the workflow, (or attend the seminar) it puts everything in order and it is easier to understand why things are done the way they are.

Verified Reviewer
Overall rating
  • Industry: Real Estate
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

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

Reviewed on 2018/02/21

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

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.

Scott
Scott
Overall rating
  • Industry: Capital Markets
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Surprisingly Impressed

Reviewed on 2017/03/06

I am rarely impressed with new application specific software, most of the time the developer has...

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

Verified Reviewer
Overall rating
  • Industry: Design
  • Company size: 2–10 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 5.0 /10

What a great service! Useful and compatible with my requirements

Reviewed on 2023/07/12

Pros

Very easy to use and What a great service! Useful and compatible with my requirements

Emiliano
Emiliano
Overall rating
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support

Let's keep things simple: TMO is the best, period.

Reviewed on 2017/12/15

Pros

The TMO team has a comprehensive understanding of our business, the expertise and extensive knowledge of real estate investments, and the mortgage industry which is highly necessary in this industry. What makes this company to be the best its their people. They are the greatest asset of this firm. They are a team of professionals who work hard, strive for professional growth and find innovative solutions for their customers.

Heather
Overall rating
  • Industry: Banking
  • Company size: 11–50 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Multiuse, Multilevel Software

Reviewed on 2022/09/29

The Mortgage Office is such a great software backed by a great experienced team. The software is...

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

Rick
Overall rating
  • Industry: Financial Services
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great Loan origination for small private money lender

Reviewed on 2020/12/10

Wouldn’t be such a long-time customer if we weren’t so happy with the overall product features,...

Wouldn’t be such a long-time customer if we weren’t so happy with the overall product features, benefits and support.

Pros

After nearly 18 years as a user on dedicated local server, we made the switch to the cloud-based AWS version and couldn’t be happier. Timing was excellent as the pandemic followed soon after installation.

A key benefit is this platforms now works on most all systems, including iOS. That’s great news for small operators like myself.

Cons

We struggled initially with a few features but utilized the vendor’s excellent tech support to resolve.
Maintenance support is pricey but is top of the line.

Annette
Overall rating
  • Industry: Nonprofit Organization Management
  • Company size: 2–10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

The software is so stable, I never experience downtime.

Reviewed on 2017/02/14

I've been using The Mortgage Office for 5 years. My monthly invoicing process went from being a...

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.

Richard
Overall rating
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support

ABS-TMO Loan Service Software

Reviewed on 2014/04/19

My mortgage company invested in the ABS loan service software in 1981. We were lucky to have...

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.

Janet
Overall rating
  • Industry: Financial Services
  • Company size: 2–10 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

You Won't Regret Getting This Software

Reviewed on 2021/10/12

I have been using the software for 4 months now and at this time, I'm fully operational and I can...

I have been using the software for 4 months now and at this time, I'm fully operational and I can call myself an "advanced" user. My success of using this software is due largely to [SENSITIVE CONTENT]. These two technical support staff have been so patient with me and had supported me throughout the bad times when I mess up things in the software or ask stupid questions. They made me a better user of the software so that I can get the most out of all the features.

Pros

Software is easy to use and technical support is second to none. Fast technical support response and each support staff is patient and understanding. I love the follow up after the support team assisted me with a problem to ensure that I'm operating smoothly and that my problem was solved. This is one software where I can customize my own documents with my own customize fields which make this work for me. Love the statement generation feature. I also love the fact that my other colleagues can view loan details without having me generating or summarizing the loan details for them. The many features offered by the software save me time and allow me to spend the time on other matters.

Cons

I have nothing bad to say about this software.

Verified Reviewer
Overall rating
  • Industry: Construction
  • Company size: 2–10 Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

Product review and evaluation

Reviewed on 2023/02/22

...

...

Pros

Ease and smoothness and important advantages for the user and benefit in performing the work quickly

Cons

technical supportTechnical support does not respond quickly to complaintsSome ads are false

Alternatives Considered

Zendesk Suite

Reasons for Switching to The Mortgage Office

Because it is the best and fastest
Jason
Overall rating
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support

Quality Product, Excellent Customer Service, Would Recommend to Others

Reviewed on 2014/04/22

(Note: Capterra only allows a maximum of 2,500 characters for a review. Thus below is only the...

(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

Yvonne
Overall rating
  • Industry: Real Estate
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

MAKE TMO YOUR ANSWER

Reviewed on 2020/09/17

BEING ABLE TO GENERATE CERTAIN REPORTS, STATEMENTS AND NOTICES AS QUICKLY AS NEEDED FOR CLIENTS AND...

BEING ABLE TO GENERATE CERTAIN REPORTS, STATEMENTS AND NOTICES AS QUICKLY AS NEEDED FOR CLIENTS AND BORROWERS IS THE GREATEST THING.

Pros

EXPORTING FILES FROM ORIGINATION TO SERVICING IS THE EASIEST PART OF THE SOFTWARE AND THEN CAME ACH DEBIT AND CREDIT. THAT BY FAR IS MY MOST FAVORITE PART OF THE PROGRAMTH AND IT IS SO EASY TO USE.

Cons

THAT THERE ARE NOT MORE FIELDS FOR ADDITIONAL INFORMATION. LIKE ON THE NOTIFICATION OF ELECTRONIC DEPOSIT, LENDERS WOULD LIKE TO SEE THEIR YTD INTEREST JUST LIKE ON THE CHECKS.

Verified Reviewer
Overall rating
  • Industry: Banking
  • Company size: 201–500 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Great loan servicing software

Reviewed on 2019/03/30

Pros

Mortgage Office is a great tool for loan servicing that can be customized and queried in many ways. The audit and reporting functions also work great as well the customer support group. It’s very accurate and updated routinely to ensure compatibility. Overall easy to use loan management software, would highly recommend!

Cons

It can be costly depending on how much of the software is installed. Also the reporting could be more robust in certain areas but does cover most data.

Imelda
Overall rating
  • Industry: Financial Services
  • Company size: 2–10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Overall Experience Using Loan Office Software

Reviewed on 2023/07/10

So far there is nothing. Loan office software is great to use. Thank you!

So far there is nothing. Loan office software is great to use. Thank you!

Pros

Loan Software easy to use and I highly recommend to other financing companies. Thank you!

Cons

For my experience is not difficult to use. Thank you!

Brett
Overall rating
  • Industry: Financial Services
  • Company size: 2–10 Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 10.0 /10

Step Up Your Game

Reviewed on 2021/04/01

An exceptional system with an exceptional team backing the product.

An exceptional system with an exceptional team backing the product.

Pros

TMO is industry specific software with 40+ years of experience that makes complex tasks and information management streamlined. The online client account portal not only saves us time by providing clients with the information they are seeking, but it also shows our clients we are serious about customer service.

Cons

to be determined.

Kelsey
Overall rating
  • Industry: Commercial Real Estate
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 10.0 /10

TMO is a life saver

Reviewed on 2022/07/26

overall I find TMO extremely useful. If there are any glitches i know that the team and support...

overall I find TMO extremely useful. If there are any glitches i know that the team and support staff are there to help and have proven to be effective

Pros

Ease of use,
report management and production
customization - able to tailor to fit specific needs.

Cons

We are currently using the access version with nearly two decades of information - we have been experiencing laggy performance at time

Kristina
Overall rating
  • Industry: Financial Services
  • Company size: 11–50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Customer Service Makes A Difference

Reviewed on 2019/09/16

Pros

The customer service has been top notch, specially the sales team and the Support Team.

The software is visually appealing and operates similar to Excel in the list view. It's user friendly from the entry level employee to the controller, who primarily focuses on the trust accounting.

Cons

We primarily use the construction module and the training does not go over this in detail.

Tommy
Overall rating
  • Industry: Real Estate
  • Company size: 2–10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Tech support from TMO is the gold standard

Reviewed on 2019/12/31

We had an issue with an update and [SENSITIVE CONTENT HIDDEN] made sure that we were back up and...

We had an issue with an update and [SENSITIVE CONTENT HIDDEN] made sure that we were back up and running without losing any data.

Pros

[SENSITIVE CONTENT HIDDEN] in the tech support department was a great help and will be my go to when I need help with TMO.
Friendly, professional and fast. It is greatly appreciated!

Cons

Would like to see more options with hiding paid out accounts on the system.

Trish
Overall rating
  • Industry: Machinery
  • Company size: 501–1,000 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

TMO

Reviewed on 2020/09/04

The response from our Sales person [SENSITIVE CONTENT HIDDEN] has been fantastic. He is always...

The response from our Sales person [SENSITIVE CONTENT HIDDEN] has been fantastic. He is always willing to help. The Help Desk as well has been great.

Pros

The ease in which we can post payments and reconcile accounts. Also the ability to import the Lockbox payments.

Cons

Trying to find reports or create reports for our needs. Mail merge options are not sufficient for our needs. More fields are needed in the Mail Merge (The Mortgage Office Word)