20-08 MIN Transfer Announcement (72 Hours or Less)

This is a reminder that our loan purchase and sales agreement requires that a MIN be transferred to CBCMA within 72 hours after a loan is purchased. Any Interim Funder should be removed prior to transfer. About 20% of the loans that we purchase are being transferred late and/or the Interim Funder is not released which requires multiple follow up reminders from our MERS team.  CBCMA Account Executives will reach out to your company contact to notify if your company is part of the 20% to ensure that something is put into place to resolve the problem.