This guide covers those four checks, what the main broker CRMs say about AI on their own websites, and the honest route for getting a call note into each of them. We make CallNote, a call-to-file-note tool. It has no native integration with any broker CRM, and we say so in the table below.
Two kinds of AI note tool, and why brokers need to tell them apart
Vendors use "AI notes" for two different things.
| AI inside your CRM | AI note taker for calls and meetings | |
|---|---|---|
| Works from | The data already in the loan application | What was said in the conversation |
| Produces | Submission notes, lender rationale, compliance comments | A file note of the call: what the client said, what you explained, what was decided |
| Good for | Speeding up lodgement and catching missing fields | A contemporaneous record of the client's own words and your explanation |
| Blind spot | It cannot know what was said on a call unless someone typed it in | It does not know your product comparison or serviceability figures unless they were discussed |
They are complementary. The first is only as good as the information entered into the CRM, and the detail that goes missing is usually the conversation: why the client cares about an offset account, what they said about a job change, which options you walked them through. That is the gap a call note fills.
Check 1: can its notes evidence the best interests duty?
The duty is in s 158LA of the National Consumer Credit Protection Act 2009 (NCCP Act), with the conflict priority rule in s 158LB. Neither section tells you how to write a note. The record expectations are in ASIC's Regulatory Guide 273:
- RG 273.21 says ASIC expects evidence of compliance to come predominantly from the broker's own records.
- RG 273.165 lists what those records generally include. The list covers relevant conversations with the client, the efforts you made to educate them, the options and the recommendation you gave with your reasons, and how you handled any conflict of interest.
- RG 273.167 accepts file notes and records of conversations as a form of record.
- RG 273.169 says taking notes throughout the process, contemporaneously, may help you capture your reasoning at each point, and that drafting notes only at the end may not be as effective.
- RG 273.170 suggests a concise narrative summary that connects your records and explains why particular products were recommended.
So test any AI note taker on a real call and ask: does the draft record the client's priorities in their own terms? Does it separate the options you explained from the one you recommended? Does it leave a section empty when the call did not cover it, or does it invent something? Can you add your reasoning before the note is locked?
What ASIC has said about its review
ASIC is reviewing how mortgage brokers comply with the best interests duty. In a speech to the Mortgage and Finance Association of Australia conference in Melbourne on 22 July 2026, ASIC Commissioner Alan Kirkland said ASIC was not due to complete the review until later this year, so it was too early to talk about its observations. He did set out what ASIC expects on reasons for a recommendation:
It's not enough just to document them. They have to be personalised and meaningful. If the reasons for a recommendation are boilerplate factors that could apply to anyone, then it will be hard to demonstrate that the recommendation was in that customer's best interests.
He also said brokers should record the steps taken to educate customers about the options available to them. The Adviser reported him telling the same conference that ASIC expects to have a report out in the final quarter of the calendar year. As at October 2026 we could not find a published report, and we will not guess at its findings. We are tracking it in ASIC's best interests duty review for mortgage brokers.
The practical point for a software decision: a tool that produces the same tidy paragraph of reasons for every client works against you. The value of a call note is that it holds this client's own words. More on the note itself in best interests duty file notes.
Check 2: does it fit your NCCP record keeping?
The responsible lending obligations for credit assistance sit in Part 3-1 of the NCCP Act. You must not provide credit assistance unless, within the 90 days before, you have made a preliminary assessment of whether the loan will be unsuitable for the client (ss 115 and 116). That assessment rests on reasonable inquiries about the client's requirements, objectives and financial situation, and reasonable steps to verify the financial situation (s 117). ASIC's guidance is in Regulatory Guide 209. A client can ask for a written copy of the preliminary assessment for up to seven years after the credit assistance (s 120), so the file needs to be retrievable for at least that long.
For an AI note taker that means:
- Retention. Notes need to be retrievable for at least seven years, and exportable if you leave the tool. Ask what happens to your notes when you cancel.
- Integrity. A note that can be edited later with no trace is weak evidence. Look for a locked final version with dated amendments.
- Inquiries on the record. The note should show what you asked and what the client told you, with figures as figures.
- Aggregator and licensee policy. Many have their own rules on approved software and where records must live. Ask before you trial with real client data.
- Data location and training. Ask where transcripts and notes are stored and whether they are used to train a model.
Our NCCP record keeping guide has the section references, and the NCCP file note checklist is a quick test of a draft.
Check 3: how does it handle recording consent?
Most broker conversations are phone calls, and clients can be in any state. NSW, WA, SA, Tasmania and the ACT require all parties to consent to recording a private conversation. Victoria, Queensland and the NT allow a party to record. The federal Telecommunications (Interception and Access) Act 1979 separately prohibits intercepting a call without the knowledge of the person speaking. General information, not legal advice.
Ask each vendor how the audio reaches the product. A meeting bot, a desktop listener and a hardware recorder each add a recorder to the conversation. A tool that works from your phone system's own transcript adds nothing new to the call, although the phone system's transcription still needs the client's knowledge. A voice memo dictated after a meeting involves no recording of the client at all. Whichever route you choose, say one line at the start, wait for the yes, and put it in the note. Wording you can copy is in call recording disclosure wording examples.
See what a finished file note looks like.
Pick your line of work and we'll send a sample note written from a mocked call. No account, no card, and nothing from your own client files.
One sample note, plus the occasional CallNote update. Unsubscribe any time by replying. We never ask for your call recordings or client files.
Check 4: will the note reach your CRM?
This is where most brokers get caught. General AI note takers integrate with sales CRMs such as HubSpot and Salesforce. Broker CRMs are mostly supplied by aggregators and are far more closed. We read each platform's own website. This is what they say about AI, and how a call note from CallNote gets there.
| Broker CRM | What its own site says about AI | CallNote integration | Honest route for a call note |
|---|---|---|---|
| Salestrekker | Salestrekker AI generates content to help write application submission notes and compliance comments. It says the broker's input is required to make sure the notes are compliant and accurate. Nothing about transcribing calls or meetings | None | Copy and paste, or attach the PDF |
| Mercury Nexus (Connective) | The product page lists workflow automation, compliance prompts, a client portal and an open API. It did not mention AI note taking or call transcription when we checked | None | Copy and paste, or attach the PDF |
| MyCRM (Loan Market Group) | Loan Market Group's technology page lists MyNoteWriter, described as creating audit-ready best interests duty notes, client summaries and exit strategies, and MyQualityAssurance, which flags potential issues. Nothing on the page about transcribing calls | None | Copy and paste, or attach the PDF |
| Effi | Lists an AI Notetaker and AI Assist in its plans and says selected AI features may carry usage-based charges. See its pricing page for prices. The page does not explain how the notetaker captures a conversation | None | Ask Effi how its notetaker works. Otherwise copy and paste |
| BrokerEngine | Home page describes workflows, checklists and automated messages. No AI note taking mentioned when we checked | None | Copy and paste, or attach the PDF |
| HubSpot | A general CRM some brokerages use for leads and client follow-up | Native | Published to HubSpot once it is connected |
Two things to take from this. First, if your aggregator's platform has its own AI note writer, use it for what it does: submission notes and rationale drafted from application data. Ask your aggregator what is on the roadmap, because these platforms are adding AI features quickly. Second, none of the broker CRMs above says it captures your phone calls. The call note still has to come from somewhere.
With CallNote the route into Salestrekker, Mercury Nexus, MyCRM and the others is manual: review the note, press copy, paste it into the client's notes, or export the PDF and attach it. It is one more step than a native integration would be. Zapier can automate delivery only where your CRM has a Zapier connection or an open API that your aggregator lets you use, so check that before counting on it. If your brokerage runs HubSpot alongside the aggregator platform, notes publish there directly. See Aircall call notes to HubSpot.
Where CallNote fits, and where it does not
CallNote is Australian software that turns a transcript that already exists into a file note in your own format. It never records calls, never joins a meeting as a bot and never stores call audio. Transcripts arrive automatically from Aircall, Dialpad and Microsoft Teams. Zoom and Google Meet transcripts are uploaded, pasted or forwarded by email. After an in-person meeting, such as one at the client's kitchen table, you dictate a voice memo.
There is a ready-made mortgage and NCCP template, or you paste one of your own past notes and it builds a template with your headings, order and shorthand. You review the draft, then publish it. The published note is sealed with a SHA-256 checksum and locked, amendments are append-only and there is a full audit log. Data is hosted in Sydney and is not used to train AI. In a team, owners and admins see all notes and members see only their own. Pricing is $149 a month Solo or $99 a seat a month for teams, with a 14-day free trial and no credit card.
Other tools suit you better if:
- You want notes drafted inside your aggregator platform from application data. Use the platform's own AI, such as Salestrekker AI or MyCRM's MyNoteWriter. CallNote does not see your application data.
- Your calls are on a personal mobile with no transcript and you want a recording. A hardware recorder such as Plaud captures the handset, with consent on every call. CallNote does not record.
- You want video recordings and a searchable meeting archive. A general meeting recorder does that. We compare them in the best AI note takers in Australia.
- You need the note to land in your broker CRM with no manual step. We cannot do that today.
This is the kind of note it produces from a refinance call. The client is fictional.
- Why we spoke
Follow-up to her enquiry on 24 September 2026. We took her through three ways forward on her home loan.
- What matters to her
- Lower monthly repayments. She said this is her first priority because she returns to work part time in January.
- Keep an offset account. She holds about $35,000 in it and wants that money available.
- She does not want to extend the loan term.
- Options we explained
- Stay with her current lender at the reduced rate they offered when we asked them to reprice. No switching costs.
- Lender A: a lower rate with a full offset account and an annual package fee.
- Lender B: the lowest rate of the three, with no offset account.
- What we told her
We explained the total cost of each option over 3 years including fees, and that the lowest rate is not the lowest cost for her once the offset balance is counted. We explained that affordability would be assessed on her part-time income from January.
- Her decision
She prefers Lender A because it keeps the offset account and lowers her repayments. She ruled out Lender B because it has no offset. She asked for the comparison in writing before deciding.
- Next steps
- Us: email the written comparison today.
- Aisha: send her return to work letter and 2 recent payslips.
- Follow-up call booked for 8 October 2026.
Notice what the note holds that application data would not: her stated priorities in order, the stay-put option, and why one option was ruled out. Add your own reasoning for the final recommendation before the file is complete.
A ten-question buying checklist
- How does the audio of a phone call reach the product, and does that add a recorder to my calls?
- Does it work with the phone system or meeting platform I already use?
- Can it produce a note with my headings, including client priorities, options explained and reasons?
- When the call did not cover something, does the draft say so?
- Is the final note locked, with dated amendments and an audit trail?
- Can I export every note, and keep them for at least seven years?
- Where are transcripts and notes stored, and are they used to train a model?
- Exactly how does the note get into my CRM? Show me on a test client.
- Has my aggregator or licensee approved it, or will they?
- What does it cost per broker per month, and is there a trial without a card?
Run the same two calls through each tool on your shortlist and time the review. For the wider software stack, see what software do mortgage brokers use and our mortgage brokers page.
Common questions
What is the best AI note taker for mortgage brokers in Australia?
The best one works on the calls you make, produces a note that records the client's priorities, the options explained and your reasons, locks the final version, and gets it onto the client file. If your phone system or Microsoft Teams already makes transcripts, a transcript-based tool such as CallNote turns them into file notes without recording. If your aggregator CRM has its own AI note writer, use that as well for submission notes drafted from application data.
Can mortgage brokers use AI to write file notes?
Yes. Nothing in the National Consumer Credit Protection Act 2009 or ASIC's Regulatory Guide 273 says who or what must draft a record. What matters is that the note is accurate, specific to the client and reviewed by the broker. ASIC Commissioner Alan Kirkland said in July 2026 that boilerplate reasons that could apply to anyone make it hard to show a recommendation was in the customer's best interests.
Does Salestrekker have an AI note taker?
Salestrekker's website describes Salestrekker AI as generating content that helps brokers write application submission notes and compliance comments, and says broker input is required to make sure they are compliant and accurate. When we checked, the page did not describe recording or transcribing client calls or meetings. A call note from another tool is added to Salestrekker by copy and paste or as a PDF.
Does CallNote integrate with Mercury Nexus, Salestrekker or MyCRM?
No. CallNote has no native integration with Mercury Nexus, Salestrekker, MyCRM or other broker CRMs. You review the note, then copy it into the client record or attach the PDF. Zapier is an option only where your CRM supports it. CallNote publishes directly to HubSpot, Clio and Microsoft Dynamics 365.
Do I need client consent to use an AI note taker on a call?
If the call is recorded or transcribed, tell the client and get their agreement. NSW, WA, SA, Tasmania and the ACT require all parties to consent to recording a private conversation, and the federal Telecommunications (Interception and Access) Act 1979 prohibits intercepting a call without the speaker's knowledge. One sentence at the start, noted on the file, covers every state. This is general information, not legal advice.
Is it safe to paste client calls into ChatGPT or Claude for file notes?
Not on a personal or free account. A client transcript holds income, debts and identity details, and consumer terms give you no agreement on confidentiality, retention or where the data is stored. Check your aggregator and licensee policy first. If you use AI for client notes, use a business tool with written terms on data location and model training.