A History of Mortgage Brain

We recently celebrated a milestone here at Mortgage Brain as we turned thirty years old. We’d like to think that we’ve aged gracefully, and made the most of our time since 1986, offering our customers the best products possible – and service with a smile.

Where did we come from?

Set up by Peter Nice, Mike Green and Barry Louvel back in the eighties, Mortgage Brain came from humble origins.

Peter built a small sourcing system for his wife, an estate agent, and Mortgage Brain was born. We offered the first sourcing system in the UK mortgage market available to all brokers, and thus started the thriving industry we know today.

Initially, product data and software updates were distributed via disk – sent in the post! It wasn’t all online, automatic and up to the minute as it is today.

Then it all changed…

As Mortgage Brain grew, the three founders decided to sell the company in 2001 to a consortium of lenders and Nationwide, Halifax (now Lloyds Banking Group) and Alliance & Leicester (now Santander) bought the business for £4.8m.

RBS, Northern Rock (now Virgin Money) and Barclays came on board a little later in December 2001, when the turnover was £2M and we had only one product channel – mortgage sourcing.

In an era of paper applications, the lenders who now owned Mortgage Brain were keen to make changes in the market. So, they brought in our CEO, Mark Lofthouse, to develop a trading platform that allowed mortgage applications to be completed, submitted and processed electronically.

Enter Mortgage Trading Exchange, which arrived in 2003, and has gone on to become the largest single delivery channel for mortgage placement in the industry. Today, more than 20% of all mortgage applications from brokers are processed via the platform.

Making waves

Three years later, we bought the Key, a point of sale system. At this time, the system was in its fledgling state following the introduction of MDay. Significant investment and development has led to the Key becoming the most widely used CRM system available with thousands of advisers relying on it to support their businesses on a daily basis.

A History of Mortgage Brain

There is no stopping for us

We then upped our game even further, launching MortgageBrain B2C in 2010, offering the industry’s first app, UKMortgages in 2012, and, a year later, bringing another industry first, iSourceMortgages, an iPad-based sourcing system to the table. To follow shortly in 2014 was MortgageBrain Anywhere, our online sourcing system developed as a solution to the growing demand for flexibility and ability to use multiple devices, and at the same time Mortgage Brain’s original desktop sourcing product was renamed MortgageBrain Classic.

More recently in 2015 we ventured into conveyancing sourcing with a case tracking portal with the launch of ConveyancingBrain – soon after followed by LoansBrain in 2016. The latter is a second charge sourcing website that remains freely available to all, and now in 2017, we have also integrated that functionality into our first charge sourcing systems.

Product accuracy and product data turnaround have always been crucially important to us, and today we continue to lead the field, with 90% of all product data requests from lenders being up and live on our sourcing systems within four hours, and 100% within eight hours. We also continue to adapt and enhance our products to ensure that they offer the latest in technology and support all the latest regulations – we never stand still!

 Ahead of the pack

We have consistently delivered specialist technology solutions ahead of our competitors since we began, and each year invest approximately 40% of our turnover into product development to ensure that you continually get the most out of our systems.

Our employees remain our best asset and the customer services team are on hand to support your queries or answer your question. We also are the only technology company to add an online chat facility to our website to help those who don’t want to pick up the phone. Plus our extensive library of resources to support our products with numerous videos and guides remains the best in our view.

We are very proud of who we are and what we have achieved.

Celebration time…

To celebrate our successful thirty years in business, we held a party in London at the end of April to raise money for a number of charities actively supported either through fundraising or volunteering by one or more of our Mortgage Brain colleagues.

The charities were Alzheimer’s Society, Birmingham Christmas Shelter, Contact the Elderly and Shooting Star Chase a leading children’s hospice charity. So far, we have raised a fantastic £50,245 for our incredible charities.

Here’s to another thirty years – and thirty more after that!

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