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UWM rolls out construction-to-permanent loans

Housing Wire

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

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CoreLogic integrates CAL FIRE inspection data

Housing Wire

The firm announced Friday that it is incorporating Public Resource Code (PRC) 4291 inspection data into its WFMS. Typically, insurers obtain proof that a property has passed inspection from the policyholder. Started in 2016, the inspection database is maintained by the California Department of Forestry and Fire Protection (CAL FIRE).

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Appraising New Construction: Guidance for Follow-Up Inspections

Appraisal Buzz

While most appraisals only require a single field visit—and in some cases none—when it comes to appraising new construction, you may need to visit the property several times. The post Appraising New Construction: Guidance for Follow-Up Inspections appeared first on Appraisal Buzz.

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Opportunities to improve the home-building process

Housing Wire

And for those who still want to build a home from scratch, rising construction costs , limited lot sizes, and excessive red tape can make the process seem insurmountable. Considering how much construction technology, materials, and techniques have evolved, building a new home should be far simpler than it is. Opportunities to innovate.

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How much cash matters in a bidding war

Housing Wire

Interestingly, Redfin data showed waiving the inspection contingency and conducting a pre-inspection – meaning the buyer conducted an inspection before making an offer – had no significant impact on whether a prospective buyer wins a bidding war.

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HUD Updates Manufactured Home Regulations

Appraisal Buzz

The new updates seek to expedite the home production process by cutting red tape and eliminating the need for manufacturers to obtain alternative construction approvals for materials that already meet or exceed HUD standards—helping build more manufactured homes and boost the nation’s housing inventory.

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Modular homebuilding startup Veev on the verge of bankruptcy

Housing Wire

Veev’s business model is innovative: it provides pre-inspected, fully cladded walls directly to homebuilders , ready for installation. Veev said at the time that the funding would be used to scale its operations, accelerate its research and development, and expand construction into new markets.