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The Mortgage Office

Web-based mortgage and loan servicing software

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The Mortgage Office Reviews - Page 2

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213 reviews

recommended

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.

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

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So functional!

Reviewed 2 years ago

My overall experience has been pleasant. After the training, it was realized that we could use many other parts of this software in other parts of our daily business. We have even seamlessly added another kind of loan service for our citizens.

Pros

The smart views is my favorite place to be in The Mortgage Office. This application makes it simple to group different kinds of loans together and see that total of that type of loan. The attachments in each loan folder has also helped us cut down on the hard files that were being stored.

Cons

I do not have a least favorite function.

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

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The Mortgage Office is AMAZING!

Reviewed 2 years ago

The Mortgage Office handles all aspects of our loans, from origination to issuing checks and performing monthly reconciliations.

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.

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Quality Product, Excellent Customer Service, Would Recommend to Others

Reviewed 7 years ago

(Note: Capterra only allows a maximum of 2,500 characters for a review. Thus below is only the bullet points. For full details, I have uploaded the full review to the public folder on my Dropbox at: https://dl.dropboxusercontent.com/u/26145970/TMO%20Review.pdf) Summary: Very good product, I would recommend to anyone looking for a simple to use client/server loan servicing solution. Modules...

Pros

No pros were added to this review

Cons

No cons were added to this review

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

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

Reviewed 4 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...

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

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MAKE TMO YOUR ANSWER

Reviewed a year ago

BEING ABLE TO GENERATE CERTAIN REPORTS, STATEMENTS AND NOTICES AS QUICKLY AS NEEDED FOR CLIENTS AND BORROWERS IS THE GREATEST THING.

Pros

EXPORTING FILES FROM ORIGINATION TO SERVICING IS THE EASIEST PART OF THE SOFTWARE AND THEN CAME ACH DEBIT AND CREDIT. THAT BY FAR IS MY MOST FAVORITE PART OF THE PROGRAMTH AND IT IS SO EASY TO USE.

Cons

THAT THERE ARE NOT MORE FIELDS FOR ADDITIONAL INFORMATION. LIKE ON THE NOTIFICATION OF ELECTRONIC DEPOSIT, LENDERS WOULD LIKE TO SEE THEIR YTD INTEREST JUST LIKE ON THE CHECKS.

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

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Business Partner No 1

Reviewed a year ago

Great responsive, prompt and friendly support. The software gives you the ability to accommodate volume as your business grows.

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.

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

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Essential to our business!

Reviewed 4 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 recommend8/10

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Great loan servicing software

Reviewed 2 years ago
Pros

Mortgage Office is a great tool for loan servicing that can be customized and queried in many ways. The audit and reporting functions also work great as well the customer support group. It’s very accurate and updated routinely to ensure compatibility. Overall easy to use loan management software, would highly recommend!

Cons

It can be costly depending on how much of the software is installed. Also the reporting could be more robust in certain areas but does cover most data.

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Have used this software for 7 years, works very well, we have had very few issues.

Reviewed 3 years ago
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.

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

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Great Experience

Reviewed 5 years ago

The Mortgage Office has done a great job of adapting for the Canadian Market. The software and support provided for an easy transition for us. Thanks to The Mortgage Office we were able to discard our previous software which had dissappointed us and get up and running with The Mortgage Office in surprising time. Our investors are thrilled with the reports they receive generated by the program.

Pros

It is reliable, generally provides a user friendly experience, is quick to get going and/or transition and provides robust customizable reports which our investors really like.

Cons

The software has many templates with built in functionality which for the most part is fantastic. On the downside it is difficult if not impossible to change some of the reports to add explainations such as a discharge statement or the like.

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 4 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.

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

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We Passed Our Audit!

Reviewed 5 years ago

We were recently audited by the California Bureau of Real Estate. The auditor came into the office, realized we were using The Mortgage Office for all of our loan servicing, asked for specific reports (because they were so personally familiar with the software) and never asked another question! They trusted our information, knowing fully that the software would report any discrepancies in our business practices. Audits are so stressful but because we used this software, it was a BREEZE! And so nice to know that a state agency fully trusts it as well.

Pros

This software KNOWS the business of loan servicing

Cons

Tech support is wonderful but trying to find solutions to your questions on your own can be very difficult. The help functions are not thorough

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

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Functional

Reviewed 8 months ago

The IT team is always happy and readily available to help resolve our issues. The teachings are also done in a manner that any elementary school kids should understand. We love the IT team!

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.

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

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Private Money for Business Purpose Real Estate Loans

Reviewed a year ago

We are very happy, we would however suggest a simple training or on-boarding to help get started. The information like setting up a loan, walking through the payments or construction draws would be very helpful, along with processing letters and payoffs!

Pros

We have really enjoyed the ease of processing payments and the ACH upload compatibility! Doing the construction draws is very convenient too!

Cons

It's set up through a programmers perspective versus a users perspective. It's not very streamlined/user friendly. There is a lot of self-searching and self-learning needed to be done in order to navigate through the ins and outs of the system.

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

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Step Up Your Game

Reviewed 6 months ago

An exceptional system with an exceptional team backing the product.

Pros

TMO is industry specific software with 40+ years of experience that makes complex tasks and information management streamlined. The online client account portal not only saves us time by providing clients with the information they are seeking, but it also shows our clients we are serious about customer service.

Cons

to be determined.

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

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Customer Service Makes A Difference

Reviewed 2 years ago
Pros

The customer service has been top notch, specially the sales team and the Support Team. The software is visually appealing and operates similar to Excel in the list view. It's user friendly from the entry level employee to the controller, who primarily focuses on the trust accounting.

Cons

We primarily use the construction module and the training does not go over this in detail.

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

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Tech support from TMO is the gold standard

Reviewed 2 years ago

We had an issue with an update and [SENSITIVE CONTENT HIDDEN] made sure that we were back up and running without losing any data.

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.

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

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Likes and Dislikes

Reviewed 2 years ago
Pros

We like the ability to house all of our loans into one system and keep track of all the necessary information.

Cons

We would like to be able to batch uploaded documents under the attachment section of each loan, rather than having to individually add them. Our files house upwards of 50+ documents and it is extremely time consuming and tedious to have to individually upload them.

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Multiple useful functionalities; increased efficiency of processing significantly.

Reviewed 4 years ago
Pros

It's an integrated program that includes multiple functions, from loan management, to trust accounting, to investor management. The software has excellent accuracy and has been able to increase efficiency of processing at our company significantly. Our company went through several different similar products so far, and this is the best one.

Cons

The software does not easily accommodate different companies' different processes. Anything that differs from a typical business model requires manual workarounds, which can be time-consuming.

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

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A true revelation for those in the private money lending industry.

Reviewed 4 years ago

It has given our company the tools needed to service our growing portfolio with ease.

Pros

The flexibility of customizing the various features to fix any private lending business model. The Mortgage Office is constantly evolving and fills many needs all in one.

Cons

It can be costly to get going. There are a lot of different add-on modules that may be needed to get the software to perform what you want it to.

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

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TMO

Reviewed a year ago

The response from our Sales person [SENSITIVE CONTENT HIDDEN] has been fantastic. He is always willing to help. The Help Desk as well has been great.

Pros

The ease in which we can post payments and reconcile accounts. Also the ability to import the Lockbox payments.

Cons

Trying to find reports or create reports for our needs. Mail merge options are not sufficient for our needs. More fields are needed in the Mail Merge (The Mortgage Office Word)

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

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The Mortgage Office

Reviewed 2 years ago

The Mortgage Office is a great program.

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.

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 5 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.