The Mortgage Office Pricing, Features, Reviews & Comparison of Alternatives

The Mortgage Office

Web-based mortgage and loan servicing software

4.82/5 (148 reviews)

The Mortgage Office overview

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).
www.themortgageoffice.com

Pricing

Pricing options
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States, Asia, Canada, Europe, Latin America, Middle-East and Africa, United Kingdom

Supported languages

English
The Mortgage Office screenshot: Service many types of loans: Conventional, Commercial, Construction, ARMs, HELOCs, GTM, Rehab, Auto, Equipment, and more...The Mortgage Office - Loan Servicing SoftwareThe Mortgage Office screenshot: Electronically collect borrower payments and directly deposit funds to your lendersThe Mortgage Office screenshot: Produce TILA and closing TRID disclosures • Fannie Mae URLA 1003 form generationThe Mortgage Office screenshot: Automate the servicing of various types of mortgage pools and MICsThe 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 amountsThe Mortgage Office screenshot: Provide instant access to borrower, lender, and partner information 24 hours a day, 7 days a weekThe Mortgage Office screenshot: Custom fields with user-defined toolsThe Mortgage Office screenshot: Snapshots of data and performance trends

The Mortgage Office reviews

Value for money
Features
Ease of use
Customer support
  4.7
  4.8
  4.7
  4.8
Anisa Lancione

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

Used daily for 2+ years
Reviewed 2018-03-29
Review Source: Capterra

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.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.

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Evan Frank

Robust loan servicing package with institutional scalability

Reviewed 2015-04-23
Review Source: Capterra

1: We have found TMO to be highly functional. TMO performs core loan servicing very well. The development team has a deep understanding of the private lending business. The learning curve is steep, so I recommend the 2 day course which is well worth the money you will spend and the time you will save by not doing things incorrectly. The compiled help is a great reference guide for intermediates or advanced users and is well maintained. 2: We have found TMO to be scalable. One of our requirements was deploying the software across multiple physical locations. Although we encountered initial hiccups in set up, these were due to MS Office (MSO) 2010's default security settings (TMO relies upon MSO to create its attachments via mail merge). Once our IT team pinpointed the MSO security settings issue (which was quite intricate and required updating registry keys), we were able to effectively scale to 2 client workstations in 1 physical location pointing back to a SQL server at an off-site data center. The option of upgrading to the SQL version (available as another add-on 'module') gave us the confidence in the beginning when we first purchased the JET (MS Access) version that the software is robust and scalable. Our SQL upgrade and proof of concept across multiple physical locations confirmed the software is robust and scalable, and this area of functionality has performed well for us. The SQL migration tool that ABS provides made the transition fairly seamless. 3: 'Sustainable' means the software should have a long shelf life and be upgraded on a regular basis. In our 3 years there have been numerous upgrades although some were unfortunately forced, and I can't recall much new functionality being added ' most of the updates were patches or new functionality for Loan Origination or other modules we were not using. However, the platform has been around (and augmented) for 30+ years. In summary, I think the software is robust and powerful, and I give the software development team top marks in creating and maintaining an excellent product. Also AJ Poulin their VP of Sales is a pleasure to deal with, is well respected in and has deep roots in the private lending industry, and has a lot of integrity.

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Annette Rubelmann

The software is so stable, I never experience downtime.

Used daily for 2+ years
Reviewed 2017-02-14
Review Source: Capterra

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.Reliability. I trust TMO to keep accurate, consistent records

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Megan Miller

Almost perfect

Used daily for less than 6 months
Reviewed 2016-11-07
Review Source: Capterra

After years of searching, I was thrilled to discover a software designed with by business in mind. The ease of purchasing and installing the software was remarkable. The amount of customizable features and the power behind this software sold me almost instantly. I am a heavy user of the construction module, and there are no options for training in this module which seems odd to me. We went to the training in CA. and learned some general tips and tricks, but were not able to gain any further knowledge into the construction module which is why went in the first place. It's very difficult to get a hold of the support line. You never get through to anyone when you call. If you opt for sending an email, you typically get a call back within the same business day. The downside is that now I am in an epic game of phone tag trying to get my software functioning and have no idea when this might be resolved. When I do have the opportunity to speak with someone I am so happy with the customer service. Bottom line I would recommend this software, but make sure you're not in a hurry to implement it. Ease of purchase and installation. I can customize everything and anything. The math computations are accurate and also custom to your specific needs.

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Richard Temme

ABS-TMO Loan Service Software

Reviewed 2014-04-19
Review Source: Capterra

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.

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The Mortgage Office pricing

Pricing options
One time license
View Pricing Plans

Contact The Mortgage Office for price information or a quote

The Mortgage Office features

Accounting Management
Automatic Reminders
Billing & Invoicing
Compliance Management
Third Party Integration

API (181 other apps)
Accounting Integration (125 other apps)
Activity Dashboard (124 other apps)
Automatic Notifications (111 other apps)
Customizable Reporting (97 other apps)
Data Import/Export (106 other apps)
Electronic Payments (114 other apps)
Expense Tracking (122 other apps)
Financial Analysis (85 other apps)
Invoice Management (174 other apps)
Invoice Processing (103 other apps)
Multi-Currency (106 other apps)
Real Time Data (109 other apps)
Receiving (94 other apps)
Reporting & Statistics (137 other apps)

Additional information for The Mortgage Office

Key features of The Mortgage Office

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

Benefits

• 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.