Morty Reviews

Morty's mortgage process was easy until we got to the backstretch. The number of monthly bills and itemized items that they need was the most we've ever been required to do. Their paperwork is quadruple of what a bank was. Every time it rolled over to another month before it's proved, they want another month's worth of data. We had gotten used to having a great credit rating and everything getting approved in 10 minutes. Also, Morty's wants us to fax stuff and we don't have a fax. For people who don't have those services available or are able to drive to a UPS store and get things faxed, they're in trouble.

Working with Morty was good. Everything was online and they were very responsive. I got the best quote.

Morty put me in touch with the lender with the best rate. Pre-approval was easy and then once we starting moving forward, they needed more documentation. But it was all pretty simple. Their communication was clear and they helped me throughout the whole process. Also, I'm very happy with the rates I got and they've continued to drop a little bit since then. I financed the first home at 2.5% which is pretty great for only 5% down.

Morty came up first on LendingTree, and they had a good rate. The application was easy as I expected it to be. But it was all well-collected. Everyone saw when I uploaded things and responded immediately. Things were very smooth. Also, the reps communicated effectively. They had lots of standard communication tools that they tend to use well. The website was there, up and running and up to date. So it told me what my case was and how it was moving along.

The process was all virtual. Morty had a really good dashboard that walked you through every stage of the process, and what forms were needed to be filled out, and what information you needed to provide in terms of income verification. So they verified your personal information and then you went to asset and income verification, and then the next stage was homeowner’s insurance. All those things were laid out in a workflow so it was very clear what you needed to provide them. Their team processed everything very quickly and easily within a matter of 72 hours of getting something uploaded because they had to confirm that you had provided the right information or feedback that you needed to clarify something.

One of my friends used Morty before, and he was happy with it. So, I ended up with Morty. The application process wasn’t difficult. It was just that underwriting took 2 weeks to 20 days. They were pretty reasonable with communication. The only thing we were surprised with is the closing cost. If this closed by $100, it’s not a big difference. But with more than $1,000 from the initial expectations versus the final, that's a little different. But Morty did do their part of the work properly.

It was the most hassle-free experience. And the interest rate that Morty quoted me was really good. At the beginning during the loan origination, customer service was on point. Later as we neared closing, it was hit and miss. There was sometimes a lag when I would need to speak to somebody or have some information remade. It became more spotty as we approached closing and I would need specific information from the lender, which of course Morty was a middleman. So there were some instances where that could have been better.

I went through the preapproval thing. And then I went through 100 pieces of paperwork over and over until they finally got through and said I had a mortgage. I talked to the rep a couple of times. He did good at first. And then, stopped talking because he had something going on in his family, which kept him out for a week or so. And everybody else there was very hard to get ahold of. Other than that, the rates and returns were fine. If you have a lot of time and patience, Morty is good to go through. But if you don't, I wouldn't go through them. Part of that is the people they found. LoanDepot is a problem, too. So it was a very long, exasperating ordeal.