Griffin Funding has launched an internal artificial intelligence-driven platform designed to help loan officers navigate the complex world of non-QM lending.

The tool, known internally as “LIA,” pulls hundreds of pages of program guidelines into a single system and uses AI to deliver tailored answers to loan qualification questions, according to Chloe Shubin, vice president of strategy for Griffin Funding.

Shubin said that development for LIA started in late 2024. The company partnered with AI engineering firm Cadre to build out the automated underwriting system (AUS), which has been in testing with Griffin’s top loan officers since March and was rolled out companywide in July.

The company used to be primarily focused on U.S. Department of Veterans Affairs (VA) loans, but non-QM loans have become the majority of Griffin’s pipeline since 2020 when Shubin joined the company. But these products come with lengthy, investor-specific requirements that can be difficult for new LOs, and even seasoned professionals, to master.

“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. It also connects with lenders to do pricing checks and is being expanded to pull property profile data directly.

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. “Then, after finding the correct answer, we feed the right solution back to LIA so it learns.”

For now, LIA is being used internally as part of Griffin Funding University, the firm’s training program for new hires. But the company hasn’t ruled out eventually offering the product more broadly once it has been fully “hardened” against errors.

Shubin said that a key feature set to debut later this month is source citations, which will link LIA’s answers directly to the relevant section of investor guidelines. That, Shubin said, should give loan officers and underwriters added confidence in the system’s recommendations.

Investors are being lured back into the property market on expectations values will continue to rise, but industry groups want certainty that the goal posts won’t keep moving.

In recent years, many property investors have opted to cash in and take advantage of strong capital gains, with home values up more than 50% in the five years.

National home prices are up 5.3% over the past year, PropTrack data shows, adding around $47,900 to the value of the median home – and consumers expect prices will continue to rise over the next 12 months.

The latest Home Price Index shows national home prices rose 0.5% in August to a new record high. This marks eight straight months of growth as the housing market gains momentum following a series of interest rate cuts this year.

These cuts have boosted borrowing capacities, improving sentiment and drawing buyers back to the market, according to REA Group senior economist, Eleanor Creagh.

“As a result, the housing upswing, once narrowly led by a handful of cities, is broadening and closing the gap between outperformers and laggards, ushering in a more uniform phase of price recovery across the capital cities,” Ms Creagh said.

Demand has re-accelerated in Sydney and Melbourne, marking a turnaround from the slower conditions observed in late 2024. Melbourne is closing in on its 2022 peak, with relative affordability and strong population growth restoring its appeal, she said.

The option to cash in coincides with the spring auction season, which has kicked off over the last weekend. On the weekend, auction clearance rates across the state hovered around 70% across the country.

Investor loans rise

Painting the picture is data from the Bureau of Statistics, which show that the number of new investor loan commitments for dwellings rose 3.5% in the last quarter, while the value rose 1.4%.

The figures show that there were 49,065 new investment loans approved this year in the June quarter, a 3.5% rise (1,656 more loans) compared to the previous quarter. The average loan size rose by $1,103 to $674,259.

The number of new loans rose in most states and territories, the largest increase was in the Northern Territory, which rose 21.1% and Western Australia which rose 1.4%.

“The 3.5% quarterly growth in the number of investment loans follows two consecutive quarterly falls. While annual growth slowed to 0.8% from 27.0% in the June quarter 2024, the number of new loans remained historically high,” Dr Mish Tan, head of finance statistics at ABS said.

Investors were shunning the market a few short years ago. Australian Taxation Office data from the 2022/23 investor market shows the steepest annual decline in individual property investors in over 25 years had reversed decades of steady growth.

At the time, ATO statistics for 2022/23 revealed the total number of individual property investors fell by more than 7,000 compared to the previous year – a reversal that comes after decades of consistent growth in investor participation. The data excludes the global financial crisis and the Covid period, which had an exceptional impact on the market, before bouncing back to some degree.

But REA Group’s executive manager of economics Angus Moore notes a lot has happened in the property market since 2023, when the most recent data ATO data is available up to.

“Remember, 2022/23 is a while ago, and since then, we’ve seen a big pick up in investors buying in.”

“That period of time coincides with when the Reserve Bank of Australia was rapidly raising rates, and saw a pullback in housing market activity broadly, including from investors,” he said. 

The share of taxpayers reporting gross rent on their tax return has been in decline for about a decade.

“This has been the best measure that market analysts have of how many people invest in rentals. While the decline in 2022/23 was sharper, it’s not a new trend,” Moore said.

“The share of new loans going to investors is around its highest in decades in Queensland, WA and SA, and its highest since 2017 in NSW.

“Victoria is the only state where we haven’t seen that pick-up, and investor activity remains more subdued there.”

What’s driving investors to sell

Meanwhile, The Property Investment Professionals of Australia (PIPA) has come out swinging, calling for the government to put an end to the uncertainty in the investor market impacting investment sentiment. It wants the government to reaffirm support for property investors and maintain longstanding tax policies that encourage investment.

PIPA says that government interference in the rental market is the number one concern for current and prospective investors, while mounting costs, regulatory uncertainty and fears of tax reform are causing a structural shift in the investment market.

“All investors want is clarity and consistency – they can’t plan for the future when the rules keep changing,” PIPA chairman Lachlan Vidler said.

The post Back in favour: Investors return to property following 2023 exodus appeared first on realestate.com.au.

A few years ago, Nelson Alexander chairman Duncan McPherson got a phone call from the principal of a local high school in Melbourne’s northern suburbs.  

“She said ‘Duncan look, I’ve got a problem and I don’t know how you could possibly help with this’ but she said, ‘I’ve got no one else to talk to,’” Mr McPherson said.

The Nelson Alexander Foundation – a grass-roots organisation Mr McPherson established to help the local community – had raised funds for Brunswick Secondary College in the past, but this problem was “a tough one”. 

The principal explained that two students and their aunty were in desperate need of housing. The brothers were orphans and refugees from Sudan, who came to Australia to live with their aunt and uncle, but a marriage breakdown had left the boys and their aunty couch surfing.  

After a chat with one of Nelson Alexander’s property managers, Mr McPherson arranged for the foundation to guarantee the family’s rent.  

“I said if the aunty can contribute some portion of it, we will fund the rest to get these kids through school,” he said.

He holds back tears as he re-tells the story now.  

“It was meant to be for two years,” Mr McPherson said. “We did it for four years but we got both those kids through school – I get a bit emotional – then the kids got a job and supported the aunt.”  

It’s just one example of the work the Nelson Alexander Foundation has done in its 20-year history. 

Unlike a registered not-for-profit, the foundation is not required to only raise funds for other registered charities – allowing it to help at a “grass roots” level.     

“We don’t want it with conditions, we want to give it unconditionally and that was the concept behind it,” he said.  

“We want to be local within the communities where we live and operate. We wanted to give back to the people that support us.” 

Each year, the agency celebrates Foundation Day, where each location donates the entire commission from one sale that day to a cause nominated by members of the community. 

“This year we’ve decided because it’s the 20th anniversary, we surveyed our staff and asked them to put forward organisations that have really touched their lives and their family or their neighbours,” Nelson Alexander Foundation coordinator Kerryn Donchi said.  

She said among the nominated causes close to the hearts of staff were research programs for myeloma cancer, Northcote High School’s thriving power fund for underprivileged students, and a number of local neighbourhood houses.  

“One of our partner’s young son was born with cataracts, so he has had a close connection with Cataract Australia, so we’re supporting them based on his family’s involvement in that organisation after the birth of their child,” Ms Donchi said. 

Along with the specific causes nominated by staff and the community for Foundation Day, the foundation regularly works with organisations including Berry Street Family Services, The Royal Children’s Hospital and Launch Housing.  

Since its inception in 2005, the foundation has raised $5.1 million, Ms Donchi said.

“It’s a great joy to be able to work within a space that I feel really connected with and I think there’s a lot of people within our organisation that are the same,” she said.  

Along with the foundation, Nelson Alexander has a volunteer program, where staff take time to lend a hand at local charities. 

“It gives our staff an active involvement where they feel like they are actually making a contribution to something bigger,” Mr McPherson said.

“The collective effort is what it’s about and Foundation Day being celebrated every year is something that everyone is really proud to be a part of.” 

Nelson Alexander’s Foundation Day is on Saturday September 13 this year.  

The post Real estate with heart: 20 years of grassroots giving that’s changing lives appeared first on realestate.com.au.

Sydney families are ditching the hustle and bustle of the city with hopes and dreams of quieter country life – and NSW’s Riverina region has become one of the most popular destinations.

Figures from the Regional Movers Index have revealed residents switching to regional Australia are now outnumbering those migrating to major cities by more than 26 per cent.

Migration from capitals to regions made up 11.2 per cent of all internal migrations, while movements from the regions back to cities accounted for 8.9 per cent or relocations, according to the Regional Australia Institute.

The Riverina area in southern NSW was becoming a highly favoured destination for Sydney movers, the data showed, with mortgage stress, rental blowouts and extreme living costs often encouraging city families to relocate.

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There has been an uptake of families moving from the city to the country. Picture: Matt Beaver.

Data from PropTrack revealed the Riverina region remains one of NSW”s most affordable areas.

Popular markets like Narrandera were among the cheapest with a median house price of about $314,000. Areas like Temora are also becoming attractive for tenants, with home rentals at a median price of $380 per week.

Educator Emma Davenport moved from Sydney to the region earlier this year and said it expedited her career progression.

“I was a Year 6 Co-Ordinator and moved into a Deputy Principal role at the Lutheran School Wagga Wagga. That kind of progression would have been much more difficult in the city due to the competitiveness for such positions. Plus, now I have time for further study.”

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Emma Davenport made the move to the Riverina region from Sydney. Picture: Country Change Photographer.

A survey released by the RAI earlier this year revealed more than half of millennials and over 40 per cent of Gen Z are now actively considering a move away from cities and to the regions.

“We know people are under pressure in Sydney,” said Rachel Whiting, CEO of RDA Riverina.

“In Sydney, the average commute is around 90 minutes each way — in Temora, it’s a five-minute walk, coffee in hand, no traffic, and you’re home by 5:05pm. That’s more than seven hours a week back in your life.

“While rent in Newtown averages $950 a week, a mortgage in Griffith can be as little as $323 a week.”

Wagga Wagga is becoming a popular spot in the region. Picture: Shane Kelly.

The uptick of jobs, less mortgage and rental stress are factors influencing the move. Picture: Matt Beaver.

With major infrastructure projects under construction and growing demand across healthcare, IT and aged care, the Riverina regions are quickly reflecting on the ground what the data reflects.

“In the Riverina, people get their time back, their money goes further, and life simply makes more sense,” Ms Whiting said.

The post NSW Riverina region growing as Sydneysiders move in appeared first on realestate.com.au.

Hulk Hogan had his daughter, Brooke, removed from his will two years before he died of cardiac arrest at his Florida estate, it has been revealed.

The WWE legend who died at the age of 71 inside his Clearwater, Florida, home in July, left behind a fortune worth $US5 million ($A7.5 million), according to his son, Nick Hogan, who is listed as his father’s sole beneficiary.

Nick, 35, filed documents on September 9 asking to be named as the co-personal representative of his father’s estate, alongside a man named Terry McCoy, as first reported by Us Weekly.

According to Realtor, the court has since signed off on his request.

In that filing, Nick claimed his father, whose real name was Terry Gene Bollea, had a sizeable fortune when he died, including $US200,000 ($A300,000) worth of cryptocurrency, $US799,000 ($A1.2 million) in personal and intellectual property, and his right to publicity, which is valued at $US4 million ($A6 million).

Additionally, Nick mentions a potential medical malpractice lawsuit that is believed to refer to a case that his father’s third wife, Sky Daily, is reportedly planning to launch against a surgeon who operated on the wrestler’s neck in May 2025.

Furthermore, the court filing notes Hogan’s will was originally executed in 2016, and several amendments were then made in 2017, 2021, 2022, and in July 2023, when he removed Brooke as a beneficiary.

However, the court documents make no mention of the wrestler’s real estate portfolio — leaving the future of his expansive Florida estate unknown.

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Professional wrestler Hulk Hogan and daughter Brooke in 2006. Picture: Ralph Notaro/Getty Images

The sports star, whose full name was Terry Gene Bollea, was found dead inside his expansive dwelling in July. Picture: nickhogan/Instagram

Hogan’s impressive abode was made up of two adjacent beachfront properties he purchased several years apart in an affluent area of Clearwater.

The first dwelling was purchased for $US3.3 million ($A5 million) in 2012 — three years after he split from his first spouse, Linda, with whom he had two children.

The wrestling icon bought the house next door for $US1.6 million ($A2.4 million) in 2016, however both properties are now worth a combined $US11 million ($A16.6 million), according to estimates.

The first of the two homes, which was used by Hogan as his primary residence for many years, features five bedrooms and 5.5 bathrooms.

The second abode offered a much smaller retreat with four bedrooms and two bathrooms.

Records show that both properties are registered to an LLC and trust linked to Hogan and ex-wife Jennifer, suggesting that there may be a slightly more complex legal battle to determine who gets a share of the estate.

Hogan died at the age of 71 after suffering from cardiac arrest inside his Clearwater, Florida, home. Picture: Google Maps

According to a previous report by Us Weekly, those kinds of legal entanglements are what prompted Hogan’s daughter to be written out of his will — with the one-time singer’s husband, Steve Oleksy, claiming shortly after the sports star’s death that Brooke requested to be removed from the document in 2023.

Brooke and her father had been estranged for some time in the lead-up to his death — however Oleksy said that she had done her utmost to “uphold her dad’s best interests” during that time.

However, Oleksy noted much of Hogan’s fortune came from a lawsuit filed against the news website Gawker, which leaked portions of a sex tape made by the wrestler in 2013.

That tape featured comments made by Hogan about his daughter and a former boyfriend.

In 2016, Hogan was awarded $31 million in damages as a result of the leak, and Oleksy said that Brooke wanted to make no claim to any share of the money that had come from that settlement, even after her father’s death.

The news came just weeks after his wife, Sky, fiercely denied rumours that the sports star was in a coma. Picture: mrs.sky.hogan/Instagram

“That money does not represent accomplishments in the ring — the majority of it came at the expense of my wife’s dignity,” Oleksy told Us Weekly in July.

“It was built on hurtful comments about her and her past relationship, which caused pain not only to her, but to many other families.

“While one life was positively changed forever from a financial standpoint, the true victims never received a direct apology — and, despite the life-altering embarrassment, they never received or asked for a single dollar in compensation.”

He added: “No amount of money can erase that pain or restore what was taken.”

Soon after her father’s death, Brooke herself opened up about how their relationship had crumbled — explaining that their rift was not the result of a “big fight,” but rather a cumulation of hurtful conversations and interactions over a span of several years.

“My father and I never ‘fought.’ It was a series of phone calls no one will ever hear, know, or understand,” she wrote on Instagram, noting that she and her husband moved down to Florida so that she could be closer to her father — only for the wrestler to begin cutting her out of his life.

“Everything started getting covered in a thick veil. It was like there was a force field around him that I couldn’t get through,” she explained.

“During the last two years, I had to step away to protect my heart.”

Parts of this story first appeared in Realtor and was republished with permission.

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