About The Mortgage Office
The Mortgage Office pricing
The Mortgage Office does not have a free version. The Mortgage Office paid version starts at US$650.00/month.
Alternatives to The Mortgage Office
The Mortgage Office Reviews
Feature rating
- Industry: Banking
- Used Daily for 1+ year
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Review Source
Huge help for me to streamline my business
Pros
The ability it has given me to focus on making deals and not updating 100 different spreadsheets. I was working between spreadsheets daily, updating new loans, draws , and investor payments. Having this all in one place has been a game changer!
Cons
Not much to complain about, really like it a lot. We have found a few kinks in the system as far as reporting and payment but we generally have found a work around and most of it was probably user error and just getting to know the system!
- Industry: Real Estate
- Company size: 11–50 Employees
- Used Daily for 2+ years
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Review Source
Ease of Use for Servicing Residential Loans
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.
- Industry: Financial Services
- Company size: 2–10 Employees
- Used Daily for 2+ years
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Review Source
Owned for over three years. Very complex, Updates routinely have major bugs. Understaffed...
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 look great, but as updates occur with the main, modules of servicing, the lack of testing is clear as each update precipitates major bugs which cost my staff scores of hours. 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. , but they are nice people. Support calls are seldom answered within an hour. Typically it's about a 24 hour turnaround, with a call to us (Mountain Time) just about the time my staff is walking out the door.
- Industry: Real Estate
- Company size: 11–50 Employees
- Used Daily for 2+ years
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Review Source
The Mortgage Office for Servicing
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.
- Industry: Real Estate
- Company size: 11–50 Employees
- Used Daily for 2+ years
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Review Source
A true revelation for those in the private money lending industry.
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.
