5.11 Payment Shock Requirements Update(s): Loans with AUS Approval will not have payment shock calculations applied. Manually underwritten loans will continue to be reviewed. 6.23 Payment Shock Requirements Update(s): Loans with AUS approval will not have payment shock calculations applied. Manually underwritten loans will continue to be reviewed.
1. 5.11 Payment Shock Requirements Update(s): 2. 5.27.13 Self-Employed Borrower Update(s)-(30-days of the note date) 3. 5.27.17 Disaster Certificate Update(s):
Announcement: Please note as of September 13, 2023, CBC Mortgage Agency will be adding the following LLPAs to our published rate sheet. Fico 600-619: -.500 (pricing hit) Fico 620-639: -.375 (pricing hit) Total Loan Amount <$125,000: +.500 (Pricing Improvement) Total Loan Amount >=$125,000 and <$175,000: +.250 (Pricing Improvement)
100% financing program helps rural low- and moderate-income families achieve homeownership CEDAR CITY, Utah – August 1, 2023 – CBC Mortgage Agency (CBCMA), a Native American wholly owned and federally chartered housing finance agency, has been approved by the U.S. Department of Agriculture to provide 30-year mortgage loans for borrowers outside of urban and suburban […]
2) 5.9 Undisclosed Debt Monitoring & Soft Pull Credit Refreshes: Removed from program guidelines 3) Updated Disclosure of Secondary Financing: Found on our Chenoa website under Documents and Tools-this has been updated with our Doc Vendors and Encompass. Documents and Tools
Statement by CBC Mortgage Agency President Miki Adams We commend the U.S. Senate for unanimously passing the Tribal Trust Land Homeownership Act of 2023, which would streamline the review and processing of mortgages for Native Americans living on tribal lands. The bill establishes new requirements for the processing of residential leasehold mortgages, business leasehold mortgages, […]
Chenoa Fund helps more than 42,000 families become homeowners CEDAR CITY, Utah – May 15, 2023 – CBC Mortgage Agency (CBCMA), a Native American wholly owned and federally chartered housing finance agency, is celebrating its 10-year anniversary by unveiling a dynamic new rebrand for the correspondent investor and its Chenoa Fund Program, which has extended […]
FOR IMMEDIATE RELEASE: February 17, 2023 CONTACT: Kira Camozzi (805) 807-3384 CBC Mortgage Agency supports the Cedar Band of Paiutes Indians Joint Tribal Letter for the Record to the Senate Banking Committee Hearing. Cedar Band of Paiutes Indians, Lower Brule Sioux Tribe, and Rosebud Sioux Tribe submitted a letter to the Senate Banking Committee as […]
All policy changes and updates are referenced below in the appropriate section of the CLG. These policy changes are effective April 26th, 2023 unless otherwise noted. This announcement, and previous announcements, are also available on the Announcements page of our website. These updates apply to everyone using the Chenoa Fund program—correspondents and TPO. 5.12 | […]
