Tech firm Mortgage Brain has acquired criteria-based sourcing system Criteria Hub.
Mortgage Brain has started the integration of Criteria Hub with its online and offline sourcing systems, and its point-of-sale, CRM and compliance system, The Key.
More initiatives will be announced over the coming months.
Mark Lofthouse, chief executive of Mortgage Brain, said: “Over the last four years, Criteria Hub has impressed many, including us, with its innovative technology and so we are thrilled and very much looking forward to coupling its platform with our own market leading systems.
“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.
“It’s an excellent strategic fit with our business, and by bringing both technology providers together, we establish the best and broadest sourcing capability available, further reinforcing our leading position in the industry.”
Criteria Hub has 3,000 active users including Countrywide, John Charcol, Mortgage Force, Openwork, Tenet, TMA and a number of smaller firms.
It works by helping advisers check lenders’ criteria.
Jason Hegarty (pictured), co-founder of Criteria Hub, said: “The moment we opened discussions with Mortgage Brain it was clear to us that they were the perfect partner for Criteria Hub.
“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.”