All mortgage loans, first and second liens, must be transferred to CBC Mortgage Agency as Investor (owner/beneficiary) and Servicer through MERS at the same time the first mortgage is transferred, which will be within seventy-two (72) hours after the first mortgage is purchased, but never before purchase (MERS ORG #1012881). Review this in section 10.2.
We remind all correspondents of the following when registering and transferring MINs:
- Select the correct lien type for the loan
- Ensure the loan amount is correct
- Lender organization ID is entered as the Originator for all first mortgages
- CBCMA organization ID is entered as the Originator for second mortgages
- Borrower(s) social security number is correct
- FHA Case Number is entered and is correct (if applicable)
- Enter the CBC Mortgage Agency loan number as Investor Loan Number