Though mortgage brokers are largely receptive to artificial intelligence in their daily workflows, many are undecided about which technologies to adopt and say they would benefit from guidance and training.
That’s according to a survey by AD Mortgage, which polled 250 brokers. Released Thursday, the results found that while 83% of mortgage brokers say they are comfortable adopting new technologies, 57% say they need more training, with the average training satisfaction rating clocking in at just 6.49 out of 10.
“Our survey makes it clear that the industry is ready to embrace technology, but adoption alone isn’t enough,” said AD Mortgage CEO Max Slyusarchuk in a press release. “The next phase is about making these tools more accessible, better integrated, and easier to use so brokers can fully realize their benefits.”
From an overall tech perspective, e-signatures have the highest adoption rate at 87.3%, followed by loan origination systems or customer relationship management systems at 82.7% and loan scenarios or pricing calculators at 80.2%, the survey found.
About 41% of brokers say they are planning to beef up their tech capabilities in-house, compared to 33.5% who plan to lean on lender support and 25.5% who say they will use third-party services.
But only 35% of brokers reported using AI tools daily, with just 20% using AI “regularly.” General-purpose AI tools such as ChatGPT or Gemini are used by more three-quarters of respondents, with less than a third using mortgage-specific AI tools.
Still, 72% of brokers surveyed provided responses of 8 out of 10 or higher to the question, “Will AI become significantly more important in the next three years?”
As for where brokers are seeking to improve their business, AI and automation ranked second overall with a 58% response rate, behind marketing and lead generation at 60.5%.
“AI is already part of everyday workflows,” Slyusarchuk said. “The next step is to make the most of its potential to improve efficiency and decision-making.”
