The Mortgage Office
About The Mortgage Office
The Mortgage Office by Applied Business Software is an integrated mortgage and loan servicing software for businesses of all sizes. The solution comprises multiple modules for loan origination and servicing, mortgage pool servicing, trust accounting, escrow administration and offers additional modules for managing mortgage rates, credit reporting and more.
The loan origination module is suitable for loans funded by private lenders and helps to prepare loan documents to ensure clients can close more loans in less time with accurate paperwork. The loan servicing module is a core module which helps to streamline the loan servicing activities. This module helps to precisely track loan charges; process payments with many flexible options and download the latest ARM index rate values directly into the system.
The Mortgage Office solution can be used to send bills and statements to borrowers via email. Users can schedule one-time, recurring or event driven loan reminders to be sent to borrowers. It also helps to automate various activities such as check printing and fund distribution between multiple sources. With mortgage pool servicing module, clients can determine the value of the pool at any time and manage partnerships, mortgage funds, LLCs and other non-performing loan pools.
Businesses can establish legal and accounting standards with the trust accounting module. The solution complies with state and federal regulations including CA-DRE and B&P code and also meets the accounting requirements set by the Federal Real Estate Settlement Procedure Act (RESPA).
Pricing starting from:
Not provided by vendor
- Free Version
- Free Trial
- Subscription
Key benefits of The Mortgage Office
• The Mortgage Office can be used to service all types of loan format that includes commercial, conventional, construction, ARMs, GPM, lines of credit and more.
• Clients can schedule alerts for borrowers and automate payment reminders, monthly bills and statements via email.
• The solution helps to track loan delinquencies and late charge assessments with automatic notices.
• It offers the capability to automate the management of fund pools, REITS, partnerships, mortgage funds, LLCs, and non-performing loan pools.
• With the integrated escrow administration module, clients can meet the accounting and reporting requirements set by Federal Real Estate Settlement Procedures Act (RESPA) and maintain the escrow accounts on behalf of borrowers.
Typical Customers
- Freelancers
- Small Businesses (2-50)
- Mid-size Companies (51-500)
- Large enterprises (500 and more)
Deployment
- Cloud-based
- On-premises
Supported Languages
English
Pricing starting from:
Not provided by vendor
- Free Version
- Free Trial
- Subscription
Images
Features
Total features of The Mortgage Office: 99
Alternatives
MortgageHalo
LOAN SERVICING SOFT
Salesforce Sales Cloud
The Nortridge Loan System
Reviews
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- Industry: Banking
- Used Daily for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
Huge help for me to streamline my business
Reviewed on 25/04/2018
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: Nonprofit Organization Management
- Company size: 2–10 Employees
- Used Daily for 6-12 months
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Very happy with our new loan servicing software!!
Reviewed on 14/12/2023
HomesFund is very happy with the overall use, speed, and functionality of the software - and - it's...
HomesFund is very happy with the overall use, speed, and functionality of the software - and - it's in the cloud!
Pros
Setting up was fairly easy. The customer support team has my back on a daily basis on varied topics as I continue to build out the Loan Servicing system. They get back to me quickly and with great guidance and expertise.
Cons
Some of my uploads were not accepted; however, I'm sure there was a share of user error as part of the reason 😊
- Industry: Financial Services
- Company size: 2–10 Employees
- Used Daily for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 0.0 /10
Owned for over three years. Very complex, Updates routinely have major bugs. Understaffed...
Reviewed on 03/08/2017
We service a private loan portfolio and prepare 1098 forms for borrowers. This has worked well in...
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 Weekly for 1-5 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
TMO Review
Reviewed on 28/10/2024
Super friendly and willing to help any way they can
Super friendly and willing to help any way they can
Pros
Lots of data that can be sorted how you like
Cons
It is sometimes a pain to have to delete/back out entries because things need to be in sequential order
- Industry: Financial Services
- Company size: 11–50 Employees
- Used Daily for 1-5 months
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
TMO- the way to go in Mortgage Software
Reviewed on 20/08/2024
Great, the staff was very welcoming and helpful
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 Mortgage Office FAQs
Below are some frequently asked questions for The Mortgage Office.Q. What type of pricing plans does The Mortgage Office offer?
The Mortgage Office offers the following pricing plans:
- Pricing model: Subscription
- Free Trial: Not Available
Q. Who are the typical users of The Mortgage Office?
The Mortgage Office has the following typical customers:
Self Employed, 2–10, 11–50, 51–200, 201–500, 501–1,000, 1,001–5,000
Q. What languages does The Mortgage Office support?
The Mortgage Office supports the following languages:
English
Q. Does The Mortgage Office support mobile devices?
The Mortgage Office supports the following devices:
iPhone (Mobile), iPad (Mobile)
Q. What other apps does The Mortgage Office integrate with?
The Mortgage Office integrates with the following applications:
Microsoft Word
Q. What level of support does The Mortgage Office offer?
The Mortgage Office offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat
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