The Mortgage Office

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

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.

Great Software

Comments: It has been good! Technical support has been wonderful.

Pros:

It's easy to navigate and they are always open for implementations.

Cons:

Does not have reports that can be customized.

Great Product / Weak Service

Comments: 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.

TMO- the way to go in Mortgage Software

Comments: Great, the staff was very welcoming and helpful

Pros:

Easy to use and TMO is very supportive. The facility was very nice and the presentation was informative.

Cons:

I have no cons at this time, all looking good

The Best Company to work with!

Comments: The program and its sales, implementation and training groups are top notch. Everyone is friendly, professional and respond to your needs in a timely manner.

Pros:

Super easy to use and does all the thinking for you.

Cons:

They are very busy (which is a good thing) but you don't always get a live person when you have a question. However, they always get back to you and are able to take care of your needs.

Way to go TMO!!!!!!

Comments: I highly recommend The Mortgage Company software, switching from the desktop version to the online has been the best option. I highly recommend this software!

Pros:

Using The Mortgage Office software makes our job easier and efficient in many ways. The software helps us keep track on everything we do. The support team goes above and beyond offering so much support to help us solve any issue we have.

Cons:

As of now I don't have any cons to say, TMO is works hard every day to make customers happy with better upgrades and helpful updates.

TMO Review

Comments: Good, have had great support from ABS Customer Support when needed. Most often hear back within the same day to help trouble shoot. Screen shots are often sent for easier review and answering our processing questions.

Pros:

Ease of payoff and payment processing.

Cons:

Impound Analysis has been the most challenging, as tax payments were due same time as our files have been moved over into TMO. New and updated instructions have been received along with online training.

The Mortgage Office Review

Comments: I have been very pleased with the upgrade to TMO Pro. Wish we upgraded sooner! It's so much faster!

Pros:

TMO is easy to use and easy to understand. I like that you can create your own customized documents. If you run into an issue, you can simply email the support team who is always quick to respond and solve your problems. The TMO support team is amazing, they are very professional and are always available to help.

Cons:

I don't have any cons about this software.

Great company

Comments: Their software makes my job alot easier! They are fantastic.

Pros:

The product is very user friendly, the customer service has always been great. they work to get any issues resolved right away and their staff is super friendly.

Cons:

I have nothing negative to say about them.

Efficient & Simplifies complex mortgage structures

Comments: Great experience, very user-friendly software.

Pros:

Very flexible and easy to use.

Cons:

i just fear that in Pro version we will lose backup facility but that is common is all web-based software's

TMO is a great partner

Pros:

We have been working as the payment provider for over 9 years. They are a great partner and we love that they, like Usio strive for excellence and to delight their customers.

Cons:

We have not heard any complaints from our merchants about the software.

Best money spent

Comments: It has been wonderful for many years. I came from a company that had the software in 83, when I started my own I choose the same software in 85.

Pros:

We are able to do the work of two employees with just one. Less money by far.

Cons:

Very little. I have been working with this software since 1983.

What a great service! Useful and compatible with my requirements

Pros:

Very easy to use and What a great service! Useful and compatible with my requirements

Jean Taylor review

Comments: Very happy with The Mortgage Office and the support team are awesome!

Pros:

Very user friendly and very easy to navigate.

Cons:

Being able to email the statements to the clients.

Amazing Loan Servicing Software

Comments: We serviced our entire loan portfolio with TMO for the past 3 years and have the best things to say about the user experience. Our borrowers love the reports we provide for them.

Pros:

The Mortgage Office is easy to use. The training provided by the company was top notch and support is easy and quick. It helps us service our loans and stay on top of important deadlines.

Cons:

It can feel daunting at first to learn the new processes.

Ease of Use for Servicing Residential Loans

Comments: 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.

Alternatives Considered: i-servicing

Reasons for Choosing The Mortgage Office: We switched for the verbose options offered by TMO, the support team, the high quality reports and the credit reporting module.

Reasons for Switching to The Mortgage Office: The demo and the features!

Daily user of TMO here

Comments: The Mortgage Office has made my job efficient in ways other programs could not.

Pros:

I could not do my job without The Mortgage Office. I work with TMO as a Lender Service Provider to service approximately 30-40 credit unions. Our customers rely on a software that is reliable, accurate, and can handle many different loan types. TMO provides my company with all the tools we need to service a variety of needs. TMO also provides a number of different reports that help us work with accounting teams. Our company services participation loans and TMO makes the process simple. The software is easy to use and the help file is there for any questions you may have. They also have a great support team and always have a quick response time.

Cons:

No complaints here with The Mortgage Office

The Mortgage Office for Servicing

Comments: No more guess work on interests that are owed especially, on Construction loans, where the interest is always increasing as the balance is increasing. The Mortgage Office helps easily keep track of everything so you do not miss out on any interest owed.

Pros:

It is really easy to set up and start servicing loans right out of the box. If you do not understand a feature or option, the Support team is always ready and willing to help you out and explain them so you can better use the software.

Cons:

At first, it is a lot to take in on how to use the software, but once you learn the workflow, (or attend the seminar) it puts everything in order and it is easier to understand why things are done the way they are.

Overall A quality software with minor amendments required

Comments: 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.

Alternatives Considered: MortgageHalo, MIC Manager and Salesforce Sales Cloud

Reasons for Switching to The Mortgage Office: Ease of use

Great Loan origination for small private money lender

Comments: 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.

Big Fan

Comments: very good experience

Pros:

It's easy to use, helps me create a positive impression with borrowers and makes running my business easy.

Cons:

Id love a plugin that helped more with escrow management, calendering and managing tax and ins payments. I use TLO and it is not available. Id also like to transfer my several loan files to the online system, but my setup makes this impractical.

Robust loan servicing package with institutional scalability

Comments: 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.

Surprisingly Impressed

Comments: I am rarely impressed with new application specific software, most of the time the developer has not considered the many facets and nuances of the industry or its participant's workflows and as a result has a generic product that is 80% effective. After exhaustive searching, demonstrations, and trial periods, The Mortgage Office was the most logical choice for us. I have been through many enterprise software Implementations, and all of them were time-consuming and frustrating, I can say The Mortgage Office is easier than most. Support is knowledgeable and responsive. There are many customizable features which is great; but also takes some time getting familiar with them all to make it operate the way you want. Overall we have been very happy with the results, our servicing time has decreased by more than 50% and at the same time accuracy has improved.

Pros:

Great Customer Support, Reliable, Accurate

Cons:

Customized reports are difficult, no cloud-based option

Loan Servicing Specialist

Comments: My experience with Mortgage office has been good.

Pros:

Easy to use and get reporting when you get the system set up .

Cons:

Having to set up templates and custom letters .

TMO Review

Comments: 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.