Chenoa Fund Blog

08/12/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 08/12/2021 unless otherwise noted. To review the program guidelines changes made August 5, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. . Update Regarding the CBCMA Rate Stack and … Continue reading "21-08-12 Announcement—August 12 2021 Program Guidelines Update"

Did you know? CBC Mortgage Agency’s Chenoa Fund down payment assistance allows some borrowers to purchase duplexes, provided the down payment assistance product used is one of the DPA Edge products. This makes Chenoa Fund’s DPA Edge products unique because few statewide down payment assistance programs include duplexes among the home types that a borrower … Continue reading "Chenoa Fund: Did You Know? Homebuyers may be able utilize Chenoa Fund down payment assistance with duplexes"

Effective 07/28/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 07/28/2021 unless otherwise noted. To review the program guidelines changes made July 15, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. . In 5.16 (Alternative Qualification Requirements), the … Continue reading "21-07-28 Announcement—July 28 2021 Program Guidelines Update"

Effective 07/15/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 07/15/2021 unless otherwise noted. To review the program guidelines changes made June 30, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. . Announcements CBC Mortgage Agency has made … Continue reading "21-07-15 Announcement—July 15 2021 Program Guidelines Update"

Does anyone still remember 2019? Remember relaxing in your living room, enjoying the view, and looking forward to having friends or family come and visit (in person!) over the weekend? At that idyllic moment, who would have ever imagined that the world would be turned upside-down in just a matter of months and that things … Continue reading "Combating Housing Shortages and Price Increases on Homes"

Effective July 15, 2021, CBC Mortgage Agency will be lowering the FICO Score from 620 to 600 on all DPA Edge products, including the 3.5% and 5% DPA options. More details to come.

Down payment assistance needs to provide value for lenders, real estate agents, and homebuyers. Lenders need to be profitable, real estate agents need to combat home buying challenges, and homebuyers need an opportunity to build wealth. With CBC Mortgage Agency’s Chenoa Fund, each party can be satisfied and find the perfect opportunity to take advantage of … Continue reading "How A Down Payment Assistance Program Benefits Lenders, Real Estate Agents And Homebuyers"

06/30/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 06/30/2021 unless otherwise noted. CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section of the Correspondent Lending Guide. To review the program … Continue reading "21-06-30 Announcement—June 30 2021 Program Guidelines Update"

Making a loan happen is not always easy, and sometimes small hiccups can snowball into big problems between application and closing. This is why CBC Mortgage Agency makes it a high priority to provide resources to our correspondents to answer questions. From online resources, like our program guidelines and our quick trainings, to in-house human … Continue reading "Chenoa Fund Spotlight: The Scenario Desk"

06/22/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 06/22/2021 unless otherwise noted. CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section of the Correspondent Lending Guide. To review the program … Continue reading "21-06-22 Announcement—June 22 2021 Program Guidelines Update"