41 reviews

The Loan Office

Flexible loan servicing software for small lenders

4,8 /5 (41 reviews) Write a Review!

Overall rating

4,8 /5
  • Value for Money
  • Ease of Use
  • Customer Support
  • Features
98%
recommended this app
41 reviews
Marjorie H.
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 9.0 /10

First Caribbean based user

Reviewed on 2016/09/26

We are a small company based in the Caribbean that gives personal micro loans. The Loan Office is very cost effective and with the link to QB it's the perfect software for us. Whenever we have a problem we just e-mail our questions and our friendly and always helpful customer supporter will either call us or email us in the stipulated time frame. We love how we can process the payments and keep track of the delinquent borrowers. We are very pleased with the software and it helps us achieve our business goals.

Pros

When you have a company that gives loans the most important part in the whole process is the collection. We are pleased with the borrower late report. It gives us an update daily, so we know exactly who is late with its payment.

Cons

We haven't been using the software that long so we exactly know what does not please us.

Kelly M.
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  • Ease of Use
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Great flexibility

Reviewed on 2015/01/27

I love the flexibility the Loan Office gives me. I make community development micro business loans. I can configure a loan with multiple payback features - initial term of interest only, fixed payments, remainder amortized, balloon payments, etc... and be able to produce an accurate repayment schedule for the closing. I can email statements from right inside the program, which is handy. The reports and notices are a pain to customize (in MS Word), but that is my only complaint. My portfolio is very small, so I generally do personalized collections notices anyway. The ability to only have one funder per loan is not a problem since LLC all investments are pooled and member returns are figured on the entire portfolio, not per loan. We could also service a specific loan for an LLC member if they wished to invest outside of the pool, but we haven't done this yet.

The customer service/ tech support guys are very helpful and have promptly addressed any difficulties I've sent their way. I used another, less expensive program, for about ten years, but the flexibility to create loan terms that work for my borrowers makes the additional cost very worthwhile.

Verified Reviewer
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  • Industry: Banking
  • Company size: 201-500 Employees
  • Used Monthly for 6-12 months
  • Review Source

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

Good loan management software for small business

Reviewed on 2019/03/30

Pros

Loan Office is really helpful for servicing and management that offers integration with QuickBooks and is really easy to integrate with existing reports. It has a great user interface and customization features depending on users. Overall would recommend for any small business that needs an affordable options.

Cons

It really has no major flaws considering it is geared toward small users that don’t typically need sophisticated features.

Sazzadun nabi S.
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Overall rating

Reviewed on 2018/08/08

Gil V.
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  • Industry: Real Estate
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

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

I couldn't be happier with this software - it does everything I need

Reviewed on 2016/09/02

I'm really happy with the software. It's very easy to use, very easy to learn, and I really like the technical support people - they are always very fast, courteous, and friendly. No complaints at all. I would recommend this product highly.

Pros

It's just very easy to use, and the reports and statements are very professional.

Cons

I don't have any negatives at all.

Jeffrey B.
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  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

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  • Ease of Use
  • Likelihood to recommend 10.0 /10

Supports my loan servicing very well

Reviewed on 2018/10/15

Pros

Learning curve was reasonable and it supports what I need done.

Cons

Happy with its functionality so I have no cons

Steve S.
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  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source

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

I'd buy it again

Reviewed on 2016/09/12

So far so good. Compared to the previous servicing software I've used, The Loan Office is lightyears ahead.

Pros

Organization, User friendly, personalization, etc

Susan T.
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Very user friendly and meets all our needs

Reviewed on 2015/03/19

We have just implemented The Loan Office software and are very happy with it's ease of use and reporting capabilities. The knowledgeable and pleasant support staff have been a pleasure to work with.

Jeremy G.
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Great Software

Reviewed on 2015/06/02

We have been using loan office for about 3 months now. It has been a great experience. Tech support has been very helpful.

Jorge T.
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  • Industry: Real Estate
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source

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

Great loan software

Reviewed on 2018/10/23

Pros

I really like that you can have separate databases for customers depending on what company you're using. The ability to edit the letters , the reports, and the price

Cons

That it doesn't integrate with an online account for the customer to view their balances and make their payments

Bonny C.
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  • Industry: Banking
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source

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

Glad we made the switch!

Reviewed on 2016/09/23

We have been very happy with our installation of TLO. The support from Wyatt Gilbert, Ramiro Ruiz and JoAnn was fantastic. They answered endless questions while we were making our decision, and supported us every step of the way during implementation.
Our processes are much more efficient, our information on files is more consistent and easier for staff to access. Since bringing TLO online, we have been able to successfully expand our territory without any added staffing expense.
Loan Office was easy for staff to learn to use, and the integration with Quick Books is nearly seamless.

Pros

Ease of use, ability to store & organize attached files, multi user capability. The integration with Quick Books for exporting payment transactions is smooth.

Cons

The Reminders section is not as flexible, or visible as we would prefer. The custom reporting component is not user friendly, even with an experienced Crystal Reports user.
We use the custom fields extensively, but find it difficult to report on those fields

Michael L.
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  • Ease of Use
  • Customer Support

I was Hesitant at First...

Reviewed on 2016/02/25

I was hesitant at first to switch my software. My old software was outdated and lacked many features I needed to take my business to the next level.
I found The Loan Office online and it looked too good to be true, Had more features than I was ever going to use. I contacted Wyatt Gilbert , he walked me through the steps and Demo. I expressed my concern about switching and that I might end up making a mistake, but Wyatt assured me that customer support was just a phone call away and not to worry. Well he was right , I got to say that Customer Service is a five star service. Didn't matter what my questions were they always had a immediate solution. These guys have it together. I would never turn back. The loan office and my company are married for life...Thank you

Tom S.
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Great software & support!

Reviewed on 2015/03/13

We are a very small non-profit with a limited budget. The Loan Office was the perfect solution for our organization. It is excellent software that completely meets our needs and is very affordable. It has features that are light-years ahead of the software that we had been using previously. The software support is also great. Any questions that I had were quickly addressed, as were any problems that we encountered. I would definitely recommend The Loan Office.

Edward P.
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Great Software

Reviewed on 2015/07/10

We tried all of the major servicing software out there and The Loan office was by far the easiest and most efficient program available. No matter if you service a small or large portfolio it allows for you to manage your loans with ease.

Michael S.
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Excellent software

Reviewed on 2015/04/10

Great program
Prompt courteous and efficient technical support

Dustin E.
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  • Ease of Use
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Great customer service

Reviewed on 2015/06/01

The product is great, and the employees are all very helpful

Bruce B.
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  • Industry: Banking
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

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

W're thrilled we left a full service servicer to switch to The Loan Office

Reviewed on 2019/10/07

We're a family office that manages approx 50 loans. We outsourced the back office functions to a major service provider for many year. We used to spend many hours monitoring all activity and then hours getting them to correct mistakes. The mistakes became so painful that we decided to take the chance to do it ourselves. Fortunately, we found The Loan Office. As it turns out, it takes no more time for us to enter the data ourselves into The Loan Office than it took to monitor and correct the outside service. Therefore, we're saving a lot of money without any downside. We feel better having more control. As a "small loan servicer", the reporting is less than was necessary because we were serviced to a large loan servicer. While we'd recommend that you do your homework to understand the features of The Loan Office, we're confident that The Loan Office will successfully do what it says it will do - what more can we ask.

Pros

The software does all of the paper work that we need done to manage the loans. We have full data at our fingertips whenever a borrower has a question.

Cons

The company sells a software program, the Mortgage Office, that's many many times more expensive than the Loan Office and has has more feature and capabilities. I guess the "con" of the Loan Office we purchased was that it doesn't include all of those features. However, the reality is that for our company, we didn't need any of those feature and we're very happy with The Loan Office as is.

Toni K.
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  • Industry: Food & Beverages
  • Review Source

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  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 6.0 /10

Equipment purchases - Loan

Reviewed on 2016/09/21

We are still getting use to the software. I have a new supervisor on board who is reviewing the equipment program at this time. We may decide to remove the old items and get on board/better handle with new items coming in year 2017

Pros

reporting

Cons

not understanding one section of loan program

Terri C.
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  • Industry: Financial Services
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source

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

Mortgage Office Review

Reviewed on 2019/10/07

We use the Mortgage Office to service the commercial mortgages for our loan department. The software provides the necessary tools to service our loans. The customer service department is excellent and has always done a superior job making sure that our needs are met.

Pros

The software is very easy and simple to use. It doesn't matter if you are a new user or a long time user the training to use the program is very minimal. The reports are easy to find and prepare.

Cons

It would be nice if we could make custom reports if we only want to pull specific data. I would like to be able to keep track of our UCC filings in the software in addition to property insurance. I don't like that there is a separate fee for the amortization feature. I feel like this should come with the software.

Prince B.
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  • Industry: Banking
  • Company size: 201-500 Employees
  • Used Daily for 1+ year
  • Review Source

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

An incredible loan service software

Reviewed on 2020/01/09

In our organisation we used to experience some mistakes on loan service provisions and it consumed us a lot of time monitoring but when we introduced Loan office, the problem was solved since the does all the paper work we need when managing loans hence saves time and money.

Pros

This software is the best in such a way that it very complete and easy to use. It saves time and completely does the work for you. It also provide all the reports quickly and in an easy format.

Cons

Its very nice software it the best results unless you have enough knowledge of it and well functioning gadgets.

Tamara S.
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  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source

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

The Loan Office software is awesome!!

Reviewed on 2016/09/27

I have been using The Loan Office software for several months and very pleased with it. The customer support and tech team are excellent! They are great to listen and trouble shoot any questions that I have and they follow up to make sure that my questions were resolved and everything is running smoothly.

It's awesome to have everything in one place from customer & property information to printing our loan packet for closing to insurance and funding! Its very user friendly and again the tech support is fantastic! This program for our company has been a great assist in growing our company!!

Amanda C.
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  • Industry: Real Estate
  • Company size: 11-50 Employees
  • Used Daily for 1-5 months
  • Review Source

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

My small company utilizes this software to service our loan portfolio of around 30 loans.

Reviewed on 2018/01/09

Ease of reporting. The ability to send Payoff Letters and Borrower Payment Statements directly from the software.

Pros

I like that its fairly straight forward and that we can set up templates to use when setting up new loans.

Cons

It takes a day or 2 to hear back from Customer Support. Its also complicated to set up already existing loans to the system.

Rhonda H.
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  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source

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  • Value for Money
  • Ease of Use
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Our small portfolio!

Reviewed on 2016/09/21

We are an Asset Management firm that is currently servicing ~140 loans. This program has been great for our needs. It was easy to load all the loans and the day-to-day management/operation is very simple.

Pros

The program is very user friendly and simple to use.

Cons

There is not really anything I don't like. It serves our needs.

Pam R.
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  • Industry: Banking
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source

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

Loan Office Review

Reviewed on 2018/10/16

Overall I have really enjoyed using the Loan Office. This is the first time I have ever used a program like this. It is fun!

Pros

Ease of use. User friendly. It seems to do the work for you.

Cons

Not being able to process a report that I needed.

Carlos S.
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  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source

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

Best option in the market.

Reviewed on 2018/10/24

Before using Loan Office we tried 2 diferent softwares.
Loan Office makes our operation better.

Pros

It is a very complete and easy to use software.
The platform is very friendly.

Cons

No comments. Our team feels comfortable using it.