Mortgage Brain has completed the acquisition of criteria-based sourcing solution Criteria Hub.
Mortgage Brain has already started planning the integration of Criteria Hub into its point-of-sale, CRM and compliance system, The Key.
It said it would consult about how best to complete the integration, but it is likely to involve results from Criteria Hub searches feeding into the Mortgage Brain sourcing system.
“We look at it complimenting what we are already doing,” Mortgage Brain CEO Mark Lofthouse (pictured) told Mortgage Solutions.
“Brokers are telling us that they want to understand lenders that will lend on something and then start looking for products from there, so the results from Criteria Hub will feed into the other systems.
“We don’t have a timescale yet on when this will go live but we will consult with our partners on what they would like it to look like and then start on developing.
“It is a high priority for us,” he added.
Criteria Hub will remain available to any adviser in the market as a standalone system or it can be bought as part of a package.
The criteria-based sourcing system has already agreed deals with Countrywide and Openwork for their advisers to access the platform.
‘Excellent strategic fit’
Lofthouse added that over the last four years Criteria Hub had impressed many people within the mortgage industry, including the Mortgage Brain team, and noted that it was “an excellent strategic fit with our business”.
“The acquisition of Criteria Hub demonstrates the next phase in our strategy to strengthen and extend our range of technology solutions and services for the benefit of all our customers,” he continued.
Criteria Hub co-founder Jason Hegarty said: “We’ve always had a very clear vision of how the Criteria Hub platform will grow and evolve around our users and with Mortgage Brain we’ve found a partner that shares our core values and vision.
“Together we are set for a very exciting few years ahead.”
Mortgage Brain is the parent company of AE3Media which publishes Mortgage Solutions.
Owain Thomas is features and contributing editor of Mortgage Solutions and editor of Specialist Lending Solutions.
He also has experience in the protection, pensions, workplace benefits and HR areas.
Owain has won two Headline Money Awards and the Protection Review’s Journalist of the Year award.