How mortgage broker tools help brokers work smarter, not harder

So, the need for mortgage brokers to deliver on time can be intense, with delays resulting in missed opportunities or failed property transactions, complicating the workload further.

The latest Smart Money People survey (H2 2024) highlights brokers’ concerns about the need for speed and time-consuming workloads and goes on to point out that mortgage technology is a focal point. They want broker tools where CRM, affordability, criteria and product research are seamlessly connected.

And that’s exactly what Mortgage Brain does. Our suite of broker modules are industry-designed to save busy mortgage advisers time and help reduce errors, with the added convenience of having them all available online. So, if quick reactions are needed to secure a deal, they can move swiftly, wherever they find themselves

Time management challenges

Mortgage brokers face several challenges in their daily processes to provide the timely service customers demand:

• Constant rate updates and lender criteria changes: Brokers must keep up with frequent interest rate fluctuations and shifting lender criteria, making it challenging to provide the best options.
• Need for instant, accurate results: Brokers need to deliver the right mortgage option quickly and accurately, as errors or delays can harm both the client’s chances and the broker’s reputation.
• Administrative burdens: Re-keying data across multiple platforms wastes time and increases the risk of errors, slowing down the process.
• Fragmented technology: Disjointed systems and lack of integration create inefficiencies and complicate the workflow for brokers.
• Compliance/duty of care regulations: Brokers must navigate strict compliance and Consumer Duty regulations and ensure all processes are thoroughly documented, adding complexity to their work.

What’s the answer? Mortgage broker software that is integrated, fully-connected and centralised to deliver speed, accuracy and efficiency. Read on for information about how our tools can help brokers manage their time and workload.

Challenge: Staying on top of volatile rate changes.
Solution: Criteria Brain is updated in real time with product rates and lender criteria, ensuring brokers always have up-to-date information.

Challenge: Finding the right mortgage product quickly and accurately.
Solution: Sourcing Brain provides fast, accurate product research with 130+ lenders covering 98% of the market, helping brokers find the best mortgage options in less time.

Challenge: Managing administrative burdens and avoiding data re-entry errors.
Solution: Mortgage Brain Hub integrates CRM, affordability, criteria, sourcing, and submission into a single platform, eliminating re-keying and reducing errors.

Challenge: Handling complex mortgage cases efficiently.
Solution: Criteria Brain allows brokers to search six different criteria categories at once and filter 75,000+ lending criteria, speeding up case handling.

Challenge: Accurately assessing affordability for clients.
Solution: Affordability Brain allows brokers to input details once and get affordability results from 35+ lenders within 60 seconds, streamlining the borrowing assessment.

Challenge: Navigating compliance and Consumer Duty regulations.
Solution: Mortgage Brain Hub automatically generates audit trails, with built-in compliance validation and reporting tools to simplify regulatory processes.

Challenge: Ensuring first-time application success and avoiding delays.
Solution: Submissions Brain enables digital completion and submission of applications across multiple lenders in one go, reducing back-and-forth errors and delays.

Challenge: Keeping track of client engagement and communications.
Solution: CRM Brain enhances client onboarding, tracks interactions, and includes a secure portal for document uploads, improving customer collaboration.

Challenge: Managing workload efficiently while working from different locations.
Solution: Mortgage Brain’s online tools allow brokers to work from anywhere with full access to integrated mortgage systems, improving flexibility and efficiency.

And we’ve made it even easier with Mortgage Brain Hub and its suite of integrated modules. CRM, affordability, criteria, sourcing and submission in a single journey with just one login for a streamlined and less fragmented mortgage journey.

The right tools for the job

Let’s get into the details. Mortgage Brain has been the leader in providing mortgage broker systems for over 30 years. Now more than ever, we are delivering what mortgage brokers want – a suite of five powerful modules that fit seamlessly together in Mortgage Brain Hub. All benefitting from pre-population of data from a central database to cut down on rekeying and the errors that brings.

CRM Brain

A brand-new mortgage management system built in consultation with industry professionals. This user-friendly and intuitive system instantly enhances workflow and flexibility for time-poor mortgage brokers.

• Onboarding and engagement – attract, convert and retain more customers
• Client portal – enhanced collaboration with customers
• Data management – intelligent data collection for maximum efficiency
• Workflow flexibility – customise, control, and optimise your advice process
• Integrations – connect with all the right tools
• Insight and compliance – leverage real-time data insights

Sourcing Brain

Fast, intuitive, and accurate, Sourcing Brain lets you complete your product research online, so you can work wherever you need to be. And the latest version is 10x faster than previous versions to boost efficiency and give customers a better experience.

• Accurate property valuation with Hometrack AVM integration.
• 130+ lenders for 98% industry coverage.
• Advanced filtering to refine results.
• Compare sourcing scenarios side-by-side.
• Search results are pulled back into the client file for compliance.

Criteria Brain

Criteria Brain is mortgage technology designed to tackle the growing number of complex cases that drain your time and energy.

• Search six different criteria categories in one go.
• Reliable, up-to-date information verified by the lenders themselves.
• Search over 75,000 individual criteria for both residential and buy-to-let mortgages.
• Flag critical or deal breaker criteria.

Affordability Brain

Handle your clients’ expectations early on in their mortgage search. Affordability Brain is a quick and simple way to find out how much your customers can expect to borrow with results in less than 60 seconds.

• One simple form populates the affordability calculators of multiple lenders.
• Submit to over 35 residential lenders covering 90% of all residential lending.
• Results show assumptions, deal-breakers, and exceptions.
• Detailed copies supplied for compliance purposes.

Submissions Brain

This online multi-lender application and submission module delivers tangible time-saving benefits when requesting and obtaining DIPs and/or FMAs.

• Digitally complete, submit, and administer applications with multiple lenders.
• One single login.
• Automatic compliance audit trail.

Right-first-time

Major time-savings can be made by getting mortgage applications right-first-time. Having the right information available during the process avoids the need for reworking, rekeying, follow-up calls and corrections, and back-and-forth communications with customers and lenders, all of which slow the process down.

Mortgage Brain’s mortgage system of integrated data and streamlined modules are essential in helping you achieve applications that are successful first time round. As an example, Hometrack AVM means no second-guessing a customer’s unreliable valuation of their property. When it comes to having the right paperwork and information, the Client Portal provides a quick and convenient way to get it, with secure messaging and document upload.

And now with all modules available fully online, it’s possible to work from home, the office, or on the move. Our mortgage broker solutions truly put control back in the hands of the broker.

No more compliance headaches

Compliance is getting more time-consuming as new regulations are introduced. So how can you combat that? All that paperwork needs attention to detail, and with that comes stress and anxiety.

Mortgage Brain has made compliance a simple process throughout all its modules. Reports are generated automatically and pulled back to the client’s file to provide an instant audit trail.

For example, Configurable Section Validation and Workflows help to ensure all necessary information from a compliance perspective is present, and includes mandated task completion and data capture requirements.

The built-in Compliance Checking functionality is available at compliance team/manager level and allows completion of all compliance checking directly from within the platform.

The key benefits of our mortgage broker tools

It can be easy to forgo excellent client service when there’s just not enough time in the day to get everything done and stay on top of a heavy workload. That’s what drives us to develop mortgage broker technology that gives you back control, helps you manage your time efficiently, so you work smarter, not harder. The benefits speak for themselves.

In conclusion, leveraging automated data sharing, real-time updates, and seamless compliance tracking not only reduces errors and saves time but also helps you close deals faster. With tools like the fastest-ever Sourcing Brain, brokers can quickly identify the best mortgage options, ensuring timely and accurate decisions. Automatic compliance documentation further simplifies the process, keeping you on track without the hassle of manual tracking. By streamlining your workflow and ensuring accuracy, you can deliver the right-first-time mortgage to clients with confidence and efficiency.

Why not change the way you work and take a free trial of our modules.