Navigating 2026 mortgage market with augmented broker
Mojo Mortgages CEO Andy Oldham shares the fintech’s human-in-the-loop scaling strategy
Online mortgage broker Mojo Mortgages combines technology and human advisers to streamline processes while maintaining human-in-the-loop advising through its augmented broker.
“An augmented broker is a mortgage adviser whose capability is significantly amplified by technology, not replaced by it,” Mojo Mortgages Chief Executive Andy Oldham told FinAi News.
The London-based broker trusts AI to perform repetitive work, administrative tasks, data entry, pay slip assessment, compliance checks and more, Oldham said.
Within data entry, for example, Mojo Mortgages integrates LLMs to populate lender portals directly from its CRM – a process that has reduced manual data entry time by more than 50%, Oldham said in a recent release.
However, AI cannot handle some tasks, he said. “Humans need to remain in control where the stakes are high or the situation is nuanced.”
For example, AI would not be appropriate for working with a first-time homebuyer with a difficult credit history or a customer going through a divorce, Oldham said.
“These require genuine empathy and professional judgment that AI simply can’t regulate,” Andy Oldham told FinAi News.
Tech versus humans
Determining when AI should be deployed and when humans should take over is up to lenders.
“The question lenders should ask is: ‘If this went wrong, what’s the consequence?’” he said. “The higher the consequence, the more human oversight you need.”
Oldham recommends these steps to deploy AI:
- Identify processes that are time-consuming for advisers;
- Ensure advisers trust the technology and understand what AI is doing and why; and
- Measure outcomes not just by cost metrics, but also by customer satisfaction, conversion rates and adviser productivity.
Mojo Mortgages has seen results from its application of AI. Average revenue per mortgage adviser grew to $324,170 (240,000 pounds) last year from $274,200 in 2024, Oldham said. “That productivity gain is a direct result of technology removing friction from the adviser workflow.”
Mojo Mortgages works with more than 60 lenders including Barclays Bank, HSBC, Natwest and Santander, according to the company.
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