ANNOUNCEMENTS

Checkout the latest announcements on program guideline updates.

17-10: STACKING ORDER (AS OF 1:1:18)

As of January 1, 2018, we will require all loans uploaded to our client portal be stacked according to the new CBC Mortgage Agency Stacking Order. Please click here for the stacking order sheet.

17-09: Stacking Order

We have published a stacking order for our loans. Please click here for the PDF.

17-08: CBCMA APPROVED IN ILLINOIS

As of Nov 1st, CBC Mortgage Agency will purchase first mortgages in Illinois. There are now only three states where CBCMA does not operate: NY, SD, & WV.

17-07: HOPE LOAN PORT

CBC Mortgage Agency has partnered with Hope Loan Port, a HUD approved counseling agency, to provide borrowers with information, free counseling, and support after the borrowers have received their home loans in order to help borrowers better understand how and when their loan will be sold, let them know to whom they need to make …

17-06: MERS REGISTERED

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 …

17-05: CBCMA APPROVED IN MISSISSIPPI

As of Sept 21, CBC Mortgage Agency will purchase first mortgages in Mississippi. There are now only four states in which CBCMA does not operate: NY, IL, SD, & WV.

17-04: Transfer of Servicing Letters

Lenders must, in accordance with all applicable laws, rules and regulations, provide the following: • All borrowers and insurance providers: A notification that the loan has been transferred to CBC MORTGAGE AGENCY, and • All Borrowers: The name, address and toll-free telephone number for an employee or department of both companies involved in the transfer. …

17-03: TURN TIMES

Our Due Diligence Provider has notified us that Due to high loan volumes loan review turn times may increase by an additional 24 hours (up to 72 hours for initial review and up to 48 hours for conditions) for the next week or two.

17-02: REQUIRING A SIGNED INITIAL AND FINAL LOAN APPLICATION

Beginning July 1, CBC Mortgage Agency will begin requiring a signed initial and final loan application on all secondary financing. All disclosures must follow federal and state guidelines regarding time frames. Please begin implementing this process immediately so you do not delay loan closings. CBCMA will be closing our lock desk early on Monday, July …