"We started thinking about how we can supplement this learning curve and get people up to speed faster. We have multiple different investors and multiple different takeouts, and all of them have a set of guidelines that are at least 100 pages long. And then on top of that, they'll have maybe five different matrices for the different programs that they offer, Shubin said during a live demonstration with HousingWire."
"Instead of flipping through 200 pages of guidelines or relying on tribal knowledge, LIA gives our staff a starting point with qualified answers and flags potential issues upfront, she added. The platform includes four chat modes: find a product, test a product, chat with a PDF (most likely a credit report, Shubin explained) and 3.4 MISMO upload. Each mode allows users to search loan products, upload credit reports or integrate loan application files to test program eligibility."
"As for quality control and compliance, Shubin said that Griffin LOs who use the platform need to perform due diligence as they navigate a loan. If [LIA] is ever unsure, it's going to give you a suggestion; it won't give you a direct answer. And so that is your trigger to go in and look at the guidelines, she explained."
Development for LIA started in late 2024. Griffin partnered with AI engineering firm Cadre to build an automated underwriting system (AUS). The AUS was tested with Griffin's top loan officers starting in March and was rolled out companywide in July. Griffin's pipeline shifted from VA loans to predominantly non-QM loans since 2020, creating complexity from lengthy, investor-specific guidelines. LIA reduces the onboarding learning curve by providing qualified answers, flagging potential issues, and offering four chat modes: find a product, test a product, chat with a PDF, and 3.4 MISMO upload. The platform connects to pricing checks and will pull property profile data. LOs must perform due diligence; LIA suggests, not prescribes, answers.
Read at www.housingwire.com
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