About The Mortgage Office

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.
The Mortgage Office Software - Borrower screens
The Mortgage Office Software - Conversation log
The Mortgage Office Software - Borrower screens - thumbnail
The Mortgage Office Software - Conversation log - thumbnail

The Mortgage Office pricing

The Mortgage Office does not have a free version. The Mortgage Office paid version starts at US$595.00/month.

Starting Price:
US$595.00/month
Free Version:
No
Free trial:
No

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The Mortgage Office Reviews

Feature rating

Value for Money
4.7
Functionality
4.8
Ease of Use
4.7
Customer Support
4.8
5 reviews of 243 View all reviews
Audrey
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
0
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 07/04/2020

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

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.

Anisa
  • Industry: Financial Services
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 29/03/2018

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.

Amy
  • Industry: Real Estate
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 19/03/2021

Ease of Use for Servicing Residential Loans

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.

Erika
  • Industry: Real Estate
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 20/07/2021

Extraordinary

Five star experience. TMO is like staying at a nice hotel. Your expectations are exceeded, you're met with exceptional customer service, and you're confident and comfortable.

Pros

TMO takes away a lot of the manual work required with our previous software. Productivity is important to us. This automates, simplifies, and clarifies borrower payments, lender disbursements, escrow management. It's incredible.

Integration was definitely a project but only because of our starting point. We were operating so chaotically to just get by. The support team was incredibly helpful and still is incredibly helpful. If I could only list one reason why I'm happy with TMO, it would be support. So responsive, so knowledgeable, and friendly.

Cons

Integration was definitely the most difficult part. The software we used before was absolutely the reason it was difficult.

Alternatives Considered

LOAN SERVICING SOFT

Reasons for Choosing The Mortgage Office

NoteSmith was great and cost effective when we were servicing a few notes, but as we've grown, we've needed more consistency and user-friendliness.

Reasons for Switching to The Mortgage Office

Eric, our salesman, was very knowledgeable and approachable (we ask A LOT of questions). We enjoyed the demo, the promises of support (this promise is being upheld greatly), and the professionalism of each team member we met. I really cannot say enough about the support team. They are wonderful. Each day that goes by, we look up and realize that we love TMO more and more. So many times we've said "how did we do this before?" It's astounding. Choose The Mortgage Office. It's so worth it.
Nordany
  • Industry: Financial Services
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
4
Features
4
Ease of Use
5
Customer Support
5

5
Reviewed on 29/04/2021

Flexible Software

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.

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