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The Mortgage Office

Web-based mortgage and loan servicing software

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The Mortgage Office Reviews

Reviews summary

Pros

Overall, I am impressed, especially by the ability to customize fields and save in formats that are ready for presentations to the board, or management.

Anonymous Reviewer

TMO will make that growth painless and fluid as we keep our Veteran communities happy with great costumer service that TMO helps up provide.

Cesar V.

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.

Genevie M.

Cons

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.

Robert K.

I don't like that if you noticed a mistake from last month and you have entered 5 entries since then that you have to delete all the entries after and then re-enter everything.

Qiana R.

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.

James G.

Overall rating

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96%
positive reviews
97%
would recommend this app

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209 reviews

recommended

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

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

Reviewed 3 years ago

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.

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

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

Reviewed a year ago

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.

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

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Extraordinary

Reviewed 14 days ago

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.

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

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Great Product / Weak Service

Reviewed 5 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.

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

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Flexible Software

Reviewed 3 months 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...

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

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TMO User

Reviewed 10 months ago
Pros

We have been using The Mortgage Office for several months and been very pleased with our experience. The software does everything we initially set out to accomplish and then some. The Mortgage Office has best in class reporting features which are a huge selling point for our clients. We have had several clients switch from other servicers primarily for the software's ability to generate adhoc reports online. Their support is second to none. Always responsive and very helpful. Our initial learning curve was made easy just because of the tremendous amount of support we received.

Cons

The software is hosted on a virtual computer and I wish it was web based. This is not really con. More so a personal preference.

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

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TMO Review

Reviewed 2 months ago

Our experience has been overwhelmingly positive with TMO. I have recommended the software to several organizations in our space.

Pros

I have been using TMO for several years. The ability to do so many things with so few clicks of the mouse is great. When it comes to loan originations, servicing or mortgage pools nothing beats TMO.

Cons

The cons of TMO are that there are some simple things that could be updated but sometimes it takes them a while to make the change. I am sure this is true with all software.

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

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Essential to our business!

Reviewed 3 months ago

Our company has been in business for over 50 years. We've been using ABS software products as they update for 40 years! We depend on their updates, their techs, their training of staff and their customer service ever day. We view The Mortgage Office as a partner in our continued growth and success.

Pros

We rely uppdates, training and the loan service programs

Cons

The updates require a good deal of downtime.

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

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The Mortgage Office/ BEB Capital

Reviewed 3 months ago

Staying on top of our Investors (Lenders) monthly distributions and overall investment portfolio, has made the first year of our lending platform operate quite efficiently.

Pros

The Mortgage Office is an extremely efficient program that helps us manage every aspect of our loans. We are able to produce a wide range of reports at the click of a button.

Cons

I am satisfied with the software, and going forward I would like to see the option of changing our Lender rate after a loan closes. This would be helpful to manage our leveraged loans.

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

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TMO Review

Reviewed 3 months ago
Pros

We use this product to service our loans. It is easy to use and track data

Cons

The only thing I am not liking at the moment is that since moving to Amazon Workspace and having to use Work Docs to save reports that you have to pull from Work Docs and save to internal server for other employees to have access to.

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

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Ease of Use for Servicing Residential Loans

Reviewed 4 months ago

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.

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

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Just getting started

Reviewed a year ago

The biggest problem we've solved is a significant decrease in the amount of time it took to process payments. Our old system would take almost an entire day to move funds and notify participants, and now that can be accomplished in a matter of minutes.

Pros

We've been using this product for about 18 months. It has streamlined our payment processing so much - we're much more efficient now, which is always a good thing with a small company. The system is able to handle participations in an almost seamless manner.

Cons

While quite a bit can be customized, we're having some challenges customizing some reports for our participants based upon the overall portfolio. And I wish there was a better way to handle a mid-cycle interest rate change.

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

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Overall A quality software with minor amendments required

Reviewed 2 years ago

Very good. I would recommend it highly over the other options available on the market.

Pros

The software is the most comprehensive software on the market without going to customization. For a small to medium-size firm, I would highly suggest this to be your best solution.

Cons

There are certain issues with the software which should allow a bit of customization. In the mortgage industry, there are unique cases all the time, the software limits certain items rather than allowing the user to customize the options. There is typically a workaround, however, giving the user a bit more freedom would have been preferred. However, it is still the best non-custom software on the market.

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Robust loan servicing package with institutional scalability

Reviewed 6 years ago

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...

Pros

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Cons

No cons were added to this review

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

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Great Loan origination for small private money lender

Reviewed 8 months ago

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.

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

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Thankful for The Mortgage Office

Reviewed 2 years ago

The people that work there are friendly and honest. Every time I have talked to somebody they have gone out of their way to be open and truthful, even if it is not the answer we wanted to hear. I greatly appreciate it. This is true from our salesman (extremely wonderful), to the help desk and to our trainer. What really impressed me, during our training, If trainer did not know the answer, he did not try to pull the wool over our eyes and make some fictitious answer up to make himself look good. He just simply admitted that he did not know the answer and that he would research it and get back to us later. Which he did within the same day.

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.

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

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The software is so stable, I never experience downtime.

Reviewed 4 years ago

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.

Pros

Reliability. I trust TMO to keep accurate, consistent records

Cons

The first month billing can't be longer than 30 days. We usually do not invoice our borrower until the end of the first full month following closing, so there is often a 32-60 day gap. If we don't send out an invoice at the end of the month in which the loan closes, the borrower's billing statement reports them as late.

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

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Thank you [SENSITIVE CONTENT HIDDEN]

Reviewed 2 years ago
Pros

The software can be tricky at moments, but having [SENSITIVE CONTENT HIDDEN] to help was extremely convenient. He went above and beyond to get our insurance certificates implemented in the software, and we are extremely greatful for his determination! Other than just this task, [SENSITIVE CONTENT HIDDEN] has shown he is very determined and works diligently to help us with all our questions, since we have just hired new employees and switched locations. We appreciate his time and consideration for our company very much.

Cons

The thing we like least about the software is the common glitching, and having to close out and re open for it to show the correct information

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Almost perfect

Reviewed 5 years ago

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...

Pros

Ease of purchase and installation. I can customize everything and anything. The math computations are accurate and also custom to your specific needs.

Cons

It's difficult to get support staff on the phone and sometimes end up in a phone tag scenario.

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ABS-TMO Loan Service Software

Reviewed 7 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

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Cons

No cons were added to this review

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

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Should've bought it years earlier!

Reviewed 5 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

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Complete & Powerful Software Program with add on Modules giving you options to expand your services.

Reviewed 4 years ago
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.

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 2 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

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

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The conversion from our previous software, training and implementation was a breeze.

Reviewed 3 years ago

Efficiencies are key to a great team. This software allows my team to manage the easier aspects of the job quickly and easily leaving them more time to focus on other projects.

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.

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 4 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.