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More than 3,800 users across the network used the tools MyNoteWriter and MyQualityAssurance in July, with the two tools recording continued growth since their launch in December.
The increase in AI use coincided with an 18 per cent year-on-year fall in loan approval times for LMG brokers during July.
LMG also recorded a 10 per cent reduction in its median lodgement-to-approval time over the previous 12 months.
The aggregator said the tools were helping brokers improve the quality of applications submitted to lenders while reducing the amount of time spent preparing files.
MyNoteWriter generates lender rationales, product selection notes, and exit strategies using information already entered into a broker’s application.
MyQualityAssurance reviews applications across more than 500 data points, identifying issues including missing information, funding gaps, and potential product mismatches before lodgement.
LMG chief product and technology officer Whitney Cali said awareness of the tools had continued to grow among brokers since their December launch.
“More brokers are using MyCRM Intelligence and reporting faster time-to-lodgment, greater compliance confidence, and cleaner submissions that are driving higher first-time approval rates,” she said.
“We are actively expanding the MyCRM Intelligence suite with strategic AI-driven capabilities designed to further accelerate broker productivity and operational excellence in the coming months.”
Lenders ramp up AI, but data lags
The push towards AI is also gathering pace among lenders, with major banks increasingly deploying the technology across underwriting, fraud detection, and other parts of the lending process.
Westpac, for example, has deployed thousands of AI agents that it said saved 12,500 hours in their first month while processing more than 1.5 million transactions and 32,000 payslips each week.
Commonwealth Bank has also reported widespread staff use of AI platforms and said AI-generated use cases delivered around $200 million in gross benefits during the 2026 financial year. The bank is also developing an agentic AI system to help detect mortgage fraud.
NAB has reshaped its executive structure to create a dedicated technology and AI leadership role, while AMP and Bendigo and Adelaide Bank have also outlined their own AI strategies.
But while lenders are increasing their use of the technology, the data supporting it may not yet be ready.
A study from Experian, based on responses from 102 senior decision-makers across Australia’s lending market, found that 72 per cent were already using agentic AI to assist underwriters with recommendations or decision support.
However, just 3 per cent said their data was fully AI-ready, while 67 per cent said it was either not ready or only partially ready for AI-driven decisioning.
[Related: Is AI coming for brokers? Industry weighs impact]
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