MortgagesFeb 13 2019

Mortgage Brain partners with 2,000 clients

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Mortgage Brain partners with 2,000 clients

Mortgage technology provider Mortgage Brain has grown its customer base by 2,000 in 2018.

New customers included networks and individual adviser firms and corporates such as broker Intelligence Mortgage Solutions, Your Expert Group, Affinity Mortgages and Your Mortgage Solutions.

The firms also saw a number of contract renewals and user license increases throughout the year.

Mortgage Brain stated it had seen year-on-year growth for the past eight years.

Last year it entered the voice recognition market with the launch of UK Mortgages on Amazon Echo.

Mortgage Brain is due to launch its next generation digital lender gateway, Lendex, in the third quarter of 2019, which it hopes will lead to further growth.

The tool will provide direct access to lenders and secure decisions in principle (DIPs) direct from lenders in less than 30 seconds, the firm stated.

It will also provide a process to digitally complete, submit, administer and track full mortgage applications, while offering APIs to the wider market on behalf of participating lenders.

Mark Lofthouse, chief executive of Mortgage Brain, said: "With increased market share across our fully integrated lead generation, CRM and POS, sourcing, and digital mortgage submission solutions, as well as leading the field in the development and delivery of the digital customer journey, we are entering yet another period of accelerated growth and expansion and we’re looking forward to an exciting 2019."

Andrew Cook, managing director at Intelligence Mortgage Solutions, an appointed representative of TenetLime, said he chose to partner with the provider because of its efforts to innovate.

He said: "Mortgage Brain has proved, time after time, that its technology solutions are best of breed.

"Whilst we were given the option to move to a competitor system, the features and capabilities that Mortgage Brain's systems offer, as well as its continuous product development plans and its unrivalled customer support, made them the perfect partner choice by far.

"Mortgage Brain's vision to support the intermediary mortgage market mirrors ours and we’re delighted to have agreed a new long-term contract, particularly to drive forward initiatives to integrate more fully with lenders and reduce adviser re-keying."

Mr Lofthouse said nine major lenders have already confirmed their commitment to accepting digital mortgage transactions via Lendex, and detailed discussions are progressing with a further 11 lenders.

"The gateway has been wholeheartedly embraced by the mortgage industry," he added.

Mortgage Brain Holdings Limited, formed in 1986, is jointly owned by Barclays, Lloyds Banking Group, Nationwide, Royal Bank of Scotland, Santander, and Virgin Money.

carmen.reichman@ft.com