The adoption of artificial intelligence (AI) is rapidly gaining momentum among mortgage brokers, who are increasingly integrating tools like ChatGPT into their everyday routines. However, many still grapple with uncertainty about which software solutions best meet their unique requirements.
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A recent technology survey of more than 250 brokers reveals that over half—specifically 55%—are already leveraging AI regularly. Among these, around 35% identify themselves as daily users, as reported by a study
Conversely, only 13% of brokers have yet to incorporate any form of
“AI is a part of daily workflows now. The next step is to maximize its potential to enhance efficiency and decision-making,” remarked Max Slyusarchuk, CEO of AD Mortgage, in a press release.
Looking forward, 72% of brokers anticipate that new technologies will significantly impact the lending industry, with 54% planning to incorporate these innovations into their core business strategies.
What AI Tools Are Brokers Utilizing?
Among the tools currently in use, general-purpose AI platforms lead the way, with 79.5% of brokers reported using generative AI tools such as ChatGPT, Claude, and Gemini.
However, the implementation of mortgage-specific software trails significantly. Only 34% of brokers utilize AI chatbots or similar tools to navigate mortgage guidelines and policies, while 26% use AI-backed products for underwriting or income verification. An additional 20.5% employ AI for marketing and lead generation, and 14.5% utilize pricing calculators.
What Are Brokers Hesitant About?
Despite 83% expressing readiness to embrace new technologies, many remain cautious due to perceived gaps in training. On a scale of one to ten, the average satisfaction score for current training levels was only 6.49, with 57% feeling they lack sufficient education to fully leverage AI’s benefits.
Besides educational needs, other barriers to AI adoption in the broker segment include security and compliance concerns (noted by 40%), cost (cited by 29.5%), and integration challenges (highlighted by 26.5%). Additionally, 19% of brokers do not see a viable return on investment from AI, while 18.5% lack trust in technology.
When it comes to selecting the appropriate software, a significant 82% of brokers prioritize ease of integration with existing systems. One-third anticipate relying on vendors for the necessary support and education.
While the mortgage industry may not fully embrace AI yet, brokers rate their peers positively regarding receptivity to new technology and its growing adoption. They give a score of 7.22 for lending tech expertise and an impressive 7.96 for industry adaptability.
Most brokers envision a future where technology plays an increasingly vital role in the mortgage sector within the next three years, awarding an average impact score of 8.36 to this expectation.
“With over 80% of professionals comfortable with technology, it’s evident that the industry is prepared for change. The focus should now be on optimizing these tools for everyone’s benefit,” Slyusarchuk concluded.
