Chenoa Fund Blog

Minority homeownership has been a trending topic in the mortgage industry for some time now. Two factors play a large role in this: wealth inequality and intergenerational wealth. These topics rise to the top because it is generally believed that improving homeownership rates will help to reduce wealth inequality between racial groups and grow intergenerational … Continue reading "How Lenders and Realtors Can Increase Minority Homeownership"

Rates are rising. Home prices are skyrocketing. Rent is blowing up. Inflation is tightening the budget of nearly everyone in the USA. Homebuyers are still out there, looking for a great deal, but the deluge of yesteryear has come and gone, leaving some lenders and realtors scrambling to snap up the buyers on the market. … Continue reading "Tips for Lenders and Realtors to Discover New Homebuyer Opportunities"

After two years of record-low, mortgage interest rates, today’s future homebuyers are moving into a rapidly increasing interest rate market. Home price appreciation remains high and inventory is still low. But where there is a challenge, there is opportunity, and educated and prepared future homeowners can position themselves to jump the hurdles in their way. … Continue reading "5 Tips for Buying a Home in a Competitive Market "

The housing market is an enormous market and absolutely brimming with opportunity and a lot of competition. It takes a creative, prepared, and industrious real estate agent to pull ahead of the pack! Here are some tips to help you stay on your A-game. Team up with other real estate agents. Work together for a … Continue reading "Tips to Help You Become a More Successful Real Estate Agent"

05/25/2022 Version 12.2 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 05/25/2022 unless otherwise noted. To review the program guidelines changes made May 12, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. (You are also able to review … Continue reading "22-05-25 Announcement—May 25 2022 Program Guidelines Update"

05/12/2022 Version 12.1 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 05/12/2022 unless otherwise noted. To review the program guidelines changes made May 2, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. (You are also able to review … Continue reading "22-05-12 Announcement—May 12 2022 Program Guidelines Update"

Effective Immediately, CBC Mortgage Agency is suspending all DPA Offerings on all conventional loans.  Any locked loan will be honored.  If you have a loan registered and a purchase contract executed and need to use our conventional program, please contact us for an exception to this suspension. This change has NO IMPACT on our FHA … Continue reading " Effective Immediately:  CBC Mortgage Agency Suspension of Conventional DPA Offerings"

In 2010, the US Department of Housing and Urban Development released the article “Barriers to Minority Homeownership.” The top three barriers detailed in this article were the down payment and closing costs, lack of access to credit and poor credit history, and a lack of understanding and information. Unfortunately, over a decade later, many reports … Continue reading "Overcoming Barriers to Minority Homeownership"

05/02/2022 Version 12 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 05/02/2022 unless otherwise noted. To review the program guidelines changes made March 3, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. (You are also able to review … Continue reading "22-05-02 Announcement—May 2 2022 Program Guidelines Update"

With interest rates rising along with home prices, there may be no better time to get started financially preparing to buy a home than now. Here are a few financial challenges common to would-be homebuyers for you to be aware of. Down payment and closing costs. The down payment on a mortgage is the minimum … Continue reading "5 Financial Challenges for First-time Homebuyers"