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

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The Mortgage Office Reviews for UK Users

Feature rating

Value for Money
4.7
Functionality
4.7
Ease of Use
4.7
Customer Support
4.8
5 reviews of 234 View all reviews
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.

Gwen
  • Industry: Government Administration
  • Company size: 2-10 Employees
  • Used Weekly for 1-5 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 05/10/2021

Experienced Professionals

We are transitioning from a "manual" loan servicing process utilizing excel spreadsheets to this automated loan servicing solution and are looking forward to gaining efficiencies with this robust software.

Pros

The software is comprehensive and captures both loan servicing and corresponding trust accounting transactions. The company's customer relations, sales, support and training staff are amazing professionals. They set this company apart from its competition.

Cons

We conduct annual reviews on our loans and it would be great if the software could capture spreads of tax returns and financial statements to have all of the financial data, insurance and collateral information in one repository.

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

5
Reviewed on 20/07/2022

Mortgage office review

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.

Joshua
  • Industry: Real Estate
  • Company size: 2-10 Employees
  • Used Weekly for 6-12 months
  • Review Source
Value for Money
3
Features
5
Ease of Use
3
Customer Support
2

3
Reviewed on 25/07/2016

Great Product / Weak Service

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 we've become. We sampled some other cheaper software, but The Mortgage Office is clearly the best one out there. That doesn't mean it's perfect - I am not a big fan of the statements the software generates. For example, on an investor statement, the "interest paid in 2016" box at the top right of the statement shows the gross interest paid. I essentially want it to show the net interest paid (interest less servicing fees). There is an option to do that, but then the statement hides the servicing fees we charge our investors. I like to be transparent and show our investor what they are getting net, but also show them the servicing fees. To get this done The Mortgage Office wanted to charge huge sums of money to customize. I am also not a big fan of the investor statements in general, there are a lot of aesthetic issues that need to be fixed, but they refuse to do it unless I pay them.

Regardless of the minor issues described above, the software is good and worth the money. My biggest gripe is with customer support. When you get the support team on the phone, they are incredibly polite and knowledgeable, and always solve my problems. I would give the 5 stars if I could. The reason I am giving them 2 stars is not because of them, they are great. They are just incredibly understaffed, and I've never gotten one of them on the phone. I have to leave a message, and they rarely get back to you same day. It usually takes 24-48 hours, which is just absurd in our business. I even told one of the owners that I am willing to pay a much higher monthly fee (it's about $175 per month for service) if they could staff properly and have people pick up the phone when you call. I would seriously pay about $500/month to make this possible. I am running a $150 million business, and I need to know that I can reach someone within minutes when I have a time sensitive question. This is the reason I would most likely not recommend this product. If they can resolve this issue I would give the company all 5 stars.

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.

Maria
  • Industry: Nonprofit Organization Management
  • 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 24/05/2022

Director Of Community Development Liaison

I love tmo the portal its easy to use with making payment with ach. debit or credit, Everything is needed in the portal with history, messages, servicing, tax forms if needed if not you can email the servicer you're with if needed help. Its very easy to use and a great software.

Pros

Its very easy to use, If help is needed there's videos if you need to learn about anything, Its easy to make a payment or view clients information, If you need to reach out there's an email contact them and will help you fast.

Cons

i wish the portal has a way to show the exact payoff amount because clients always payoff what ever number they see in the portal and expect its that.

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