The Mortgage Office Reviews

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.

Pros

OVERALL EASE OF USE. So many features.

Cons

unfortunately, we were sold the origination module and were not aware that it won't work for us. we tried to get a refund but were told we signed a contract. was a very expensive mistake.

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.

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.

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

Pros

It keeps track of everything we need it to

Cons

The setup we’ve had it for a few years had [SENSITIVE CONTENT] come twice paid 10k for that and it’s still inputted incorrectly to where it does not function for us the way we need it to so we cannot pull the reports we need

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.

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).

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.

Pros

The Mortgage Office is easy to use. The training provided by the company was top notch and support is easy and quick. It helps us service our loans and stay on top of important deadlines.

Cons

It can feel daunting at first to learn the new processes.

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.

Pros

It's a great platform. What I like most is the developers are constantly making valuable improvements to the software. When new releases are launched, all involved are excited to see the new features. We've seen the software evolve in the last 10 years and it is now just as good, if not better than the most expensive products available. As a loan servicing company, we've seen data arrive from other servicers who utilize different software providers and we can quickly distinguish that TMO is a far superior product.

We also utilize a lot of custom SQL scripts that make large edits extremely easy to do.

The escrow module is second to none.

Cons

There is a small learning curve and it did take us some behind-the-scenes SQL customizations to accomplish our goals. I have nothing negative to say, it's truly the best.

Pros

Before we had The Mortgage Office we had 300+ loans all on Excel Spreadsheets. We had to keep them there because of the "originality" of our notes. We could not find a software that could handle all of our quirks. Needless to say, working with our mortgages was extremely time-consuming.

Not only is The Mortgage Office saving us massive amounts of time, But It CAN also handle all of our quirks.

As a side note, their help desk is friendly and very knowledgeable.

Cons

The biggest con to this software is the setup, it takes time to do it correct. However, I would rather take the time to go through all the steps to set up a note and have all the information I need, compared to doing the minimal amount of setup and regretting it later.
To be fair to The Mortgage Office, there is a way to upload all your existing notes via a CSV file, we just opted not to do it.

Pros

Its very easy to use, If help is needed there's videos if you need to learn about anything, Its easy to make a payment or view clients information, If you need to reach out there's an email contact them and will help you fast.

Cons

i wish the portal has a way to show the exact payoff amount because clients always payoff what ever number they see in the portal and expect its that.

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.

Pros

I have been using this software for 10+ years and I love it. This software makes servicing easy. Anyone can use it! And if you ever have any questions, you can always call customer support and they get back to you fast with how to resolve anything. I love that this software is easy to customize to your preference. I highly recommend this software!

Cons

No cons to using this program. Everything is easy to fix.

Pros

Streamline company procedures and management of database. The Smart Views and Categories component make the portfolio management much easier.

Cons

Annul Escrow Analysis . Did not work as smoothly and statement to the borrower is confusing . The servicing fee is listed as "insurance" instead of servicing fee.

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.

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.

Pros

It's easy to use, helps me create a positive impression with borrowers and makes running my business easy.

Cons

Id love a plugin that helped more with escrow management, calendering and managing tax and ins payments. I use TLO and it is not available. Id also like to transfer my several loan files to the online system, but my setup makes this impractical.

Pros

TMO is very convenient in all the available tools to contact, track, store, and paper trail necessary documentation and pertinent correspondence with individual clients to easily keep our staff abreast of vital information needed to effectively service loans.

Cons

Learning all the tips and tricks to most efficiently utilize the software for our business needs.

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.

Pros

I use the software to complete my work. I can now send reports, notices, interest bills, and payoff statements through the system. It is easy to use and easy to learn. It can be confusing and difficult at first then it gets easier the longer you use it.

Cons

We don't get the notices when there is a update.

Pros

Finally being able to e-mail clients. I like the ease of seeing information right away without having to going into four or five different modules.

Cons

Data Conversion was minimal, ACH information had to be corrected, Impound amounts had to be corrected, Escrow and Credit Bureau reporting had to be set up for each individual loan serparetely, as well as ACH info. There are no month end reports other than posting checks for vendors, not enough detail on payment register for good month end reporting. NeighborWorks is a non-profit housing organization, we need reports to assist with grant writing, ease of documents available for annual audits. There was an overwhelming amount of attention to detail for one person, it was very easy to miss something.