CBC Mortgage Agency

NMLS: 1186381
912 W. Baxter Drive, Suite 150
South Jordan, Utah 84095

Main: 866.563.3507
Servicing: 866.563.7572
Fax: 435.237.0022

18-16: LETTER(s) FROM PRESIDENT

July 30, 2018 By

Announcement:

1. A separate 1003 is required for ALL secondary financing loans regardless of loan program type.

  • Second Mortgage Disclosures must be dated within 3 days of the date of the 2nd 1003.

2. CBC Mortgage Agency Quality Control Release Document is a required document & must be signed by the borrower(s) as part of the closing package.

  • See attached document

3. The President’s Letter from CBCMA to the Borrower(s) is a required document & must be sent out with the initial disclosures.

  • See attached document

There are two versions of The Letter from the President and they would be used as follows:

1. Letter from President #1 is to be used for:

  • Soft Second Product
  • Rate Advantage Program

2. Letter from President #2 is to be used for:

For all repayable Second Mortgages (10 year term @ 0% and 30 year term at 5%) - for borrowers over the income limits.

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