Chenoa Fund Blog

10/05/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 10/05/2021 unless otherwise noted. To review the program guidelines changes made September 23, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the Chenoa … Continue reading "21-10-05 Announcement—October 5 2021 Program Guidelines Update"

Football season is here! To help you avoid being the broken chair at the tailgate and folding under pressure, we’ve collected some common questions that you should be prepared to answer when homebuyers are on the hunt for a lender. What qualifications do I need to apply for a mortgage?  Borrowers have their hearts set … Continue reading "Borrower Questions to Always Keep in Your Lender Playbook"

All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 09/23/2021 unless otherwise noted. To review the program guidelines changes made September 9, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the Chenoa Fund … Continue reading "21-09-23 Announcement—September 23 2021 Program Guidelines Update"

CBC Mortgage Agency is excited to be part of the MBA’s Annual Convention & Expo 2021 event that is hosted by Mortgage Bankers Association on October 17th – 20, 2021 at the San Diego Convention Center in San Diego, CA. At the event, CBC Mortgage Agency will be in attendance to discuss Chenoa Fund and … Continue reading "CBC Mortgage Agency’s Chenoa Fund™ To Exhibit At MBA’s Annual Convention and Expo 2021"

So, you want to buy a home? Not a house, but a home—somewhere for you to live, put down roots, and watch your children grow up, at least for a time. You’ve done your research, and after looking at the advantages and risks of buying a home, you’ve decided to jump into the market and … Continue reading "Is Down Payment Assistance Right for Me?"

09/09/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 09/09/2021 unless otherwise noted. To review the program guidelines changes made August 25, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the Chenoa … Continue reading "21-09-09 Announcement—September 9 2021 Program Guidelines Update"

Many loan officers and realtors have been there before. You’ve found an excited borrower, maybe a young family, looking to purchase a home—maybe even for the first time. The process is exciting and daunting for your borrower and your borrower needs a lot of help, advice, encouragement, information–you name it. Still, you can’t help but … Continue reading "My Potential Homebuyer Can’t Afford the Down Payment and Closing Costs. Now What?"

08/25/21 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 08/25/2021 unless otherwise noted. To review the program guidelines changes made August 12, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the Chenoa … Continue reading "21-08-25 Announcement—August 25 2021 Program Guidelines Update"

CBC Mortgage Agency is lowering its minimum credit score requirement from 620 to 600 with the Chenoa Fund down payment assistance program for DPA Edge Borrowers. Consumers who have young  and/or no credit history have long been hindered from the ability to apply or even qualify for a home loan. Most loans exclude applicants with … Continue reading "CBC Mortgage Agency has Lowered its Minimum Credit Score to 600 with the Chenoa Fund Down Payment Assistance for DPA Edge Borrowers"

Many loan officers came surfing into the first quarter of 2021 on a tidal wave of refinances that seemed unstoppable. Now, many find themselves tumbling to a halt as the tide ebbs just as quickly as it initially surged in. Sure, there’s still a market for refinancing, but many mortgage companies and loan officers are … Continue reading "Overcoming Lender Challenges: The Latest New Normal Obstacles"