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The Mortgage Office

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Web-based mortgage and loan servicing software

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The Mortgage Office Pricing

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Value for money rating

4.7

/5

259

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What users say

TMO will make that growth painless and fluid as we keep our Veteran communities happy with great costumer service that TMO helps up provide.
Great Loan origination for small private money lender.

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Reviewers who mentioned pricing said:

JG
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James G.

Real Estate, 1-10 employees

Used other for 1-2 years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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My experience with the mortgage office

Reviewed 4 years ago

It was brutal. We used it for about 1.5 years, and the final straw was when we felt coerced to pay more money or they would disable our access to our data under threat from their lawyers that we breached contract. This formal letter from their lawyer was also how we were notified of this supposed “issue”

Pros

Automated payments Loan management Been in the industry a long time

Cons

The software was very rigid Every support call came with a cost They threatened to hold our data hostage if we didn’t pay an extra $10,000.00 USD for breach of contract (because we used the software on multiple devices and the contract said we were only able to use it on one pc. (We use virtual pc and work from 3 different office locations)

NQ
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Nordany Q.

Financial Services, 1-10 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Flexible Software

Reviewed 3 years ago

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...

CC
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Colette C.

Real Estate, 1-10 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Mortgage office review

Reviewed 2 years ago
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.

BZ
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Brett Z.

Financial Services, 1-10 employees

Used daily for 2+ years

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Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Should've bought it years earlier!

Reviewed 7 years ago

I've used different loan servicing products over the years, and The Mortgage Office is hands down light years ahead of other systems I would know because I purchased and used 3 other products! Each one I bought was mainly based on cost (they were cheaper). I really wish I had bought The Mortgage Office the first time around. It's very easy to use, the tech people are fantastic, and it's a robust system that has bulletproof calculations and does everything a private lender could ever dream of. Whether running statements or filtering loans by type, everything is just a click or two away. I am very happy with this software great product, great company, great time in place. I highly recommend it for anyone servicing loans it's a great value.

Pros

It's a powerful product that I love using every day. Very, very happy.

Cons

No cons were added to this review

CU
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Carol U.

Financial Services, 11-50 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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We love TMO, we use it all day, every day

Reviewed 7 years ago

Ability to service more loans, this program helps track everything we do as a team, lates, payments, interest rate changes, multiple lenders, multiple vendors, fractionalized notes, credti reporting, IRS reporting, online access for borrowers and lenders, and on and on and on.

Pros

This program makes servicing thousands of loans possible. So many reports available to our lenders and borrowers. It tracks everything and allows us to report to credit. We love it and so do our clients and customers.

Cons

It's expensive, initial costs and monthly fees but it does so much of what we need. The only feature I have trouble with is the customized reports.

CH
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Chris H.

Used daily for 6-12 months

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Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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It's the flagship software in our industry and I can say it definitely makes us more money

Reviewed 7 years ago
Pros

It makes our company money in a few ways: 1) ACH payments to investors and accompanying notification by email. Every week when we send out interest payments, investors reply and offer to send us more capital. 2) Timely borrower payments. The paper and email payment coupons plus being able to pay by check or ACH ends up collecting a higher percentage of payments than we would get prior to using TMO. 3) Reporting. We're able to keep a close eye on our portfolio which is very useful for managing defaults but it also allows us to keep good client data in front of our sales people that they turn into more loans.

Cons

A web-based system would be much more convenient as remote access is tricky. We would also add a couple users if the cost were a bit lower.

JA
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Joshua A.

Real Estate, 1-10 employees

Used weekly for 6-12 months

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Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend4/10

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Great Product / Weak Service

Reviewed 8 years ago

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...

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.

RK
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Robert K.

Financial Services, 1-10 employees

Used daily for 2+ years

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  • Value for money
  • Ease of use
  • Features
  • Customer support

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Owned for over three years. Very complex, Updates routinely have major bugs. Understaffed Support.

Reviewed 7 years ago

We service a private loan portfolio and prepare 1098 forms for borrowers. This has worked well in the past, but current bugs are causing concern that the 1098 forms will need to be double checked during the very busy month of January.

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...

EC
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Eric C.

Financial Services, 11-50 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Top-knotch product

Reviewed 3 years ago

It's been spectacular.

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.

RT
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Richard T.

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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ABS-TMO Loan Service Software

Reviewed 10 years ago

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...

Pros

No pros were added to this review

Cons

No cons were added to this review

RP
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Rohit P.

Financial Services, 1-10 employees

Used daily for 1-2 years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Great working Modules with support at hand.

Reviewed 5 years ago

Having friendly and professional statements for Loans, Investors which can be e-mailed & printed.

Pros

TMO has culminated over decades of work in loan servicing software. Rep has lot of in-depth knowledge that he passes on in the Seminar. Wish we had done this seminar when we purchased the software. We are very keen in trying the easy methods. Also the Support team help is great. We are not utilizing all the modules. But their integration of ACH, emails, Text messages are very helpful. All the staff is eager to help. Sales & Marketing team was awesome. PLEASE ATTEND THE SEMINAR AFTER YOU DIVE INTO THIS SOFTWARE. Earlier the better.

Cons

For odd loans/transactions it may be customized but the cost can be high. For those we are still using Excel spreadsheets

GR
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Garrett R.

Real Estate, 11-50 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Plug and Play; All our loan servicing needs were immediately met with little initial setup or cost

Reviewed 6 years ago
Pros

Plug and Play; Powerful servicing tool that is easy to understand, navigate, and function. Also is great come tax time.

Cons

I wish it had a more thorough way of tracking Real Estate Taxes on borrower's collateral. I know insurance has its own tab. A Real Estate Tab would be helpful with current updated valuations, due dates, links to Assessor, etc.

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Eric C.

Financial Services, 11-50 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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The Mortgage Office is very capable software.

Reviewed 6 years ago
Pros

I most value The Mortgage Office's versatility and capabilities. I service many thousands of loans very easily from the software.

Cons

I would say the most troublesome area of this software is related to certain custom reports, you must be familiar with SQL or Crystal Reports to accomplish certain things.

KA
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Kip A.

Used daily for 2+ years

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Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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TMO is the gold standard for private money loan origination and servicing

Reviewed 7 years ago
Pros

the software is easy to use, customize-able and easy to add and edit forms. Most of the applicable fields are readily available

Cons

the cost is a little high as there is little to no competition in at this level. It would be nice if the system could be web based or apple compatible.

TP
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Todd P.

Used daily for 2+ years

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Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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The software simply works and does exactly what it should do with no bugs

Reviewed 6 years ago
Pros

Ease, accuracy, long established Vendor. product is the best in this class by far and we have used 2 others.

Cons

up front Cost is too high. Vender requires ongoing monthly maintenance fees which can get expensive.

GB
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G B.

1-10 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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The Mortgage Office

Reviewed 7 years ago
Pros

Customer Support is always there to help whenever it is needed. Good value for the money. Software is extremely versatile, and is easy to use.

Cons

No cons were added to this review

PC
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Patrick C.

Real Estate, 1-10 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Finally something that works right.

Reviewed 4 years ago
Pros

Ease of use, ability to customize and the help options.

Cons

Probably the cost, very little I do not like.

AS
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Amanda S.

Financial Services, 1-10 employees

Used weekly for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Great Software

Reviewed 3 years ago

We have used The Mortgage Office since inception and love that it was cost effective when we were just starting out, but powerful enough to grow with us.

Pros

I really appreciate how easy this software is to us. I also love that I can log in from anywhere.

Cons

There seems to be a lot of updates. Any other problems we have had were easily solved with their great customer service.

CG
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Chris G.

Review source

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  • Value for money
  • Ease of use
  • Features
  • Customer support

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Completely Intuitive

Reviewed 13 years ago

If you have any significant experience with computing software at all, The Mortgage Office is completely intuitive. It gets the job done, doesn't allow you to make silly errors, runs quick and clean, and presents information in a professional, logical manner. The customer service from Applied Business Software is always readily available and each support rep has extensive knowledge of the software. If it can be done, they know how to do it.

Pros

Completely Intuitive. Easy to Use. Operates Quickly. Runs Clean. Tech Support is Excellent. Presents Information in a Professional Manner.

Cons

It's not cheap, but it still presents an excellent value to any lender or mortgage servicer that takes his or her business seriously. To my knowledge, there's no other software available that has the capability and professional presentation of The Mortgage Office. Well worth the money.

HM
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Harry M.

Real Estate, 1-10 employees

Used weekly for 6-12 months

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Great Product and Outstanding Service

Reviewed 3 years ago

We are 7 month into using the software and we are happy with our decision the move to this package.

Pros

Technical Support Cloud based Wide range of tools and features built in

Cons

There is a bit of a learning curve because it does so much Yearly price is higher than other options we looked at but this is offset somewhat by their technical support

AR
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Angela R.

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  • Value for money
  • Ease of use
  • Features
  • Customer support

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Found what we were looking for

Reviewed 9 years ago

We looked through many products, to find the right fit for our business. As many of you know, who have or are searching yourselves for the right software, it's time consuming and often a total disappointment! The cost of the product is high as well as the promises it will do everything you need and more, until it doesn't. When we decided on The Mortgage Office, we found the right fit for us! It really is the best software for servicing we've found! We are happy to now streamline the work flow so we can continue to grow our company with ease!

Pros

No pros were added to this review

Cons

No cons were added to this review

PR
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Paul R.

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  • Value for money
  • Ease of use
  • Features
  • Customer support

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Hard Money Origination and Servicing Program

Reviewed 10 years ago

We have been using ABS software since 1986. If your arranging and servicing Notes and Trust Deeds and your volume dictates getting a top of line program, ABS is the company! Not cheap, but we have NEVER had an issue with the software in 28yrs!! That means a lot! It is very easy to learn and use. I can recommend ABS without hesitation!

Pros

No pros were added to this review

Cons

No cons were added to this review

AR
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Annette R.

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The Mortgage Office

Reviewed 10 years ago

Overall good software. The emphasis is really on mortgage lending, though it works fine for our commercial portfolio. Support is good. Not crazy about the pricing structure-- 4 users, or a big jump to 10, I believe. Nothing in between.

Pros

No pros were added to this review

Cons

No cons were added to this review

JG
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Jennifer G.

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???

Reviewed 10 years ago

Satisfied customer for over 10 years. Software gives us good results for a fair price.

Pros

No pros were added to this review

Cons

No cons were added to this review