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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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The mortgage industry should build ATR rule governance

Housing Wire

The natural trajectory could be tightening of credit underwriting that disproportionally impacts some communities if uncertainty exists in the legal and regulatory requirements of the rule. This “patch” construct was meant to be temporary, and, under the recently passed CFPB rules , is scheduled to soon be going away.

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Florida affordable housing law that dilutes local power has upset the apple cart

Housing Wire

Ron DeSantis is reportedly creating anxiety among local elected officials who are concerned that the new law cedes too much control over zoning and other matters to the state government. She later introduced a motion to implement only what was legally required by the city to comply with the new law until the next scheduled council meeting.

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Fix-and-flip lender Kiavi lays off 7% of employees

Housing Wire

“The problem is we’re not backed by the government sponsored enterprises (GSEs). Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . Of the 39 employees laid off, 12 cuts hit the human resources team.

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The VA’s little-known program for Native American veterans

Housing Wire

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S.

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Biden tax credit to rehab homes is finally unveiled

Housing Wire

HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. The tax credit would cover the difference between total development costs — including acquisition, rehabilitation, demolition and construction — and the sales price. How hybrid title and valuations help increase lending efficiency.

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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?