Mortgage Magic launches AI-powered criteria sourcing

Mortgage Magic has announced the launch of AI-powered criteria sourcing. 

The enhancement enables brokers to instantly match a client’s specific circumstances against thousands of lender rules.

Mortgage Magic will overlay live criteria data directly on top of product sourcing. The system uses AI to understand criteria (such as 'self-employed with one year accounts' or "ex-local authority flats") and automatically filters out lenders who would decline the case.

Advisers can type queries like "accepts gambling income" or "allows gifted deposits from aunts" and the AI will instantly shortlist compatible lenders.

A 'sandbox mode' also allows brokers to test "what if" scenarios (e.g., "What if the client puts down a larger deposit?") to see how it impacts lender eligibility without starting a new case.

The criteria sourcing tool follows the recent launch of Mortgage Magic's new all-in-one back-office platform - Prometheus - which aims to unify the CRM, mortgage sourcing, protection sourcing, and case management into a single workflow.

Tanjir Sugar, CEO of Mortgage Magic, commented: "We believe product sourcing should reflect the reality of who will lend, not just who is cheapest.

"For too long, brokers have had to be part-time researchers, constantly checking yesterday’s emails or downloading PDFs to see if a rule has changed. Our new AI criteria sourcing closes that gap. It checks the small print instantly, so the adviser can recommend a product with total confidence that the case will actually go through."