The Mortgage Office

Web-based mortgage and loan servicing software

About The Mortgage Office

The Mortgage Office by Applied Business Software is an integrated mortgage and loan servicing software for businesses of all sizes. The solution comprises multiple modules for loan origination and servicing, mortgage pool servicing, trust accounting, escrow administration and offers additional modules for managing mortgage rates, credit reporting and more.

The loan origination module is suitable for loans funded by private lenders and helps to prepare loan documents to ensure clients can close more loans in less time with accurate paperwork. The loan servicing module is a core module which helps to streamline the loan servicing activities. This module helps to precisely track loan charges; process payments with many flexible options and download the latest ARM index rate values directly into the system.

The Mortgage Office solution can be used to send bills and statements to borrowers via email. Users can schedule one-time, recurring or event driven loan reminders to be sent to borrowers. It also helps to automate various activities such as check printing and fund distribution between multiple sources. With mortgage pool servicing module, clients can determine the value of the pool at any time and manage partnerships, mortgage funds, LLCs and other non-performing loan pools.

Businesses can establish legal and accounting standards with the trust accounting module. The solution complies with state and federal regulations including CA-DRE and B&P code and also meets the accounting requirements set by the Federal Real Estate Settlement Procedure Act (RESPA).

Key benefits of The Mortgage Office

• The Mortgage Office can be used to service all types of loan format that includes commercial, conventional, construction, ARMs, GPM, lines of credit and more.

• Clients can schedule alerts for borrowers and automate payment reminders, monthly bills and statements via email.

• The solution helps to track loan delinquencies and late charge assessments with automatic notices.

• It offers the capability to automate the management of fund pools, REITS, partnerships, mortgage funds, LLCs, and non-performing loan pools.

• With the integrated escrow administration module, clients can meet the accounting and reporting requirements set by Federal Real Estate Settlement Procedures Act (RESPA) and maintain the escrow accounts on behalf of borrowers.

Devices

Business size

S M L

Markets

United States, Canada, United Kingdom

Supported Languages

English

Images

Service many types of loans: Conventional, Commercial, Construction, ARMs, HELOCs, GTM, Rehab, Auto, Equipment, and more...
Electronically collect borrower payments and directly deposit funds to your lenders
Produce TILA and closing TRID disclosures • Fannie Mae URLA 1003 form generation
Automate the servicing of various types of mortgage pools and MICs
Automate the handling of impound and reserve accounts
Collect and track escrow payments and automatically calculate new escrow impound amounts
Provide instant access to borrower, lender, and partner information 24 hours a day, 7 days a week
Custom fields with user-defined tools
Snapshots of data and performance trends
View 10 more
The Mortgage Office video
The Mortgage Office screenshot: Service many types of loans: Conventional, Commercial, Construction, ARMs, HELOCs, GTM, Rehab, Auto, Equipment, and more... The Mortgage Office screenshot: Electronically collect borrower payments and directly deposit funds to your lenders The Mortgage Office screenshot: Produce TILA and closing TRID disclosures • Fannie Mae URLA 1003 form generation The Mortgage Office screenshot: Automate the servicing of various types of mortgage pools and MICs The Mortgage Office screenshot: Automate the handling of impound and reserve accounts The Mortgage Office screenshot: Collect and track escrow payments and automatically calculate new escrow impound amounts The Mortgage Office screenshot: Provide instant access to borrower, lender, and partner information 24 hours a day, 7 days a week The Mortgage Office screenshot: Custom fields with user-defined tools The Mortgage Office screenshot: Snapshots of data and performance trends

Features

Total features of The Mortgage Office: 15

  • Accounting Management
  • Applications Management
  • Billing & Invoicing
  • Check Processing
  • Collections Management
  • Compliance Management
  • Customer Database
  • Customizable Templates
  • Distribution Management
  • Email Distribution
  • Partial Payments
  • Permission Management
  • Reminders
  • Role-Based Permissions
  • Third Party Integration

Alternatives

CREDITONLINE

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#1 Alternative to The Mortgage Office
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Qualia

4,8
#2 Alternative to The Mortgage Office
Qualia is a title and escrow management software designed to help home buyers, mortgage lenders, and businesses in the...

Turnkey Lender

4,5
#3 Alternative to The Mortgage Office
SMEs and enterprise businesses including banks, credit unions, finance companies, in-house lenders, non-profits, and...

LoanPro Software

4,8
#4 Alternative to The Mortgage Office
Full-service loan servicing software, robust API, Live amortization calculator, customer communication center,...

Reviews

Overall rating

4,8 /5
(195)
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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Showing 5 reviews of 195
Anisa L.
Overall rating
  • Industry: Financial Services
  • Used Daily for 2+ years
  • Review Source

Overall rating

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

Long time user, first time reviewer. Stable, reliable tool. Strong support. Clean audits.

Reviewed on 2018/03/29

For what's out there, this tool works well. As far as I can see there is no holistic product that...

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.

Audrey M.
Overall rating
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

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

No software is perfect...but this one is pretty close....and the customer support is top notch!

Reviewed on 2020/04/07

We have had a huge time savings using The Mortgage Office. ACH file is automatically generated at...

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.

Juanna H.
Overall rating
  • Industry: Financial Services
  • 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

Functional

Reviewed on 2021/01/28

The IT team is always happy and readily available to help resolve our issues. The teachings are...

The IT team is always happy and readily available to help resolve our issues. The teachings are also done in a manner that any elementary school kids should understand. We love the IT team!

Pros

The accessibility to navigate through the loans is easy. It's simple to understand and learn from.

Cons

Every time there is an update, they come with many glitches that impedes us to proceed with our normal workday. We spend several hours with the stupendous IT team.

Joshua A.
Overall rating
  • Industry: Real Estate
  • Company size: 2-10 Employees
  • Used Weekly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 4.0 /10

Great Product / Weak Service

Reviewed on 2016/07/25

The sales pitch was outstanding. If you want to get someone on the phone from the sales team, boom...

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.

Rick H.
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.

Showing 5 reviews of 195 Read all reviews

The Mortgage Office FAQs

Below are some frequently asked questions for The Mortgage Office.

The Mortgage Office offers the following pricing plans:

  • Pricing model: One Time License
  • Free Trial: Not Available

Contact The Mortgage Office for price information or a quote

The Mortgage Office offers the following features:

  • ARM index rate
  • Accounting management
  • Amortization scheduling
  • Application management
  • Automatic funds distribution
  • Billing & invoicing
  • Check processing
  • Collateral tracking
  • Collect & track escrow payments
  • Collections management
  • Compliance management
  • Create template as per state or loan type
  • Customer database
  • Generate and send emails
  • Integrate with Microsoft Word
  • Permission management system
  • Process payments with flexible options
  • Role based access
  • Schedule reminders
  • Track loan charges

The Mortgage Office has the following typical customers:

Small Business, Large Enterprises, Mid Size Business

The Mortgage Office supports the following languages:

English

The Mortgage Office supports the following devices:

iPad

The Mortgage Office integrates with the following applications:

Microsoft Word

The Mortgage Office offers the following support options:

Forum, Knowledge Base, Online Support, Phone Support, Video Tutorials

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