Beginning today, October 20th, all second mortgage documents will be MOM documents. This means that the assignment will no longer be required and the secondary financing can be registered with MERS and transferred to CBC Mortgage Agency immediately after closing. Our MERS org ID is: 1012881.
EXTREMELY IMPORTANT! Remember that your entity funds the down payment at closing ON BAHALF OF CBC MORTGAGE AGENCY and is REIMBURSED at closing for those funds. FHA requires that the secondary financing be in the name of the government entity prior to FHA endorsing the FHA insurance policy. For this reason, it is important that the second mortgage be registered in MERS as soon as possible after closing and transferred to CBC Mortgage agency immediately.