Updates and Announcements Archives - Page 16 of 19 - CBC Mortgage Agency

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Sep 27

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18-21: LOAN REVIEW AND LOCK POLICY

By James Bethe Updates and Announcements

After reviewing feedback and studying loan turn times, CBC Mortgage Agency will be changing its loan purchase review process beginning 10-5-18 in order to significantly…

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Sep 12

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18-20: PRE-PURCHASE COUNSELING FOR BORROWERS & HURRICANE

By James Bethe Updates and Announcements

Pre-Purchase Counseling for Borrowers with Credit Scores 620 – 639 Required for all loan applications dated 11/1/18 and after CBC Mortgage Agency requires borrowers with…

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Sep 07

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18-19: 2nd 1003 NOT REQUIRED AT TIME OF REGISTRATION

By James Bethe Updates and Announcements

Effective immediately, CBC will not be requiring the 1003 for the 2nd mortgage to be provided at the time of registration. The 1003 loan application…

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Aug 17

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18-18: HOUSEHOLD INCOME ON RATE ADVANTAGE

By James Bethe Updates and Announcements

As of 8/20/18, on the Rate Advantage program, CBC Mortgage Agency will no longer use household income to determine if a borrower meets AMI requirements.…

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Jul 31

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18-17: LOCKED LE AFTER 1ST MORTGAGE LOCKED

By James Bethe Updates and Announcements

Up until Monday July 30th when new transactions were registered with CBC Mortgage Agency, the LE provided for the secondary financing was a locked LE.…

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Jul 30

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18-16: LETTER(s) FROM PRESIDENT

By James Bethe Updates and Announcements

Announcement: 1. A separate 1003 is required for ALL secondary financing loans regardless of loan program type. Second Mortgage Disclosures must be dated within 3…

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Jul 11

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18-15: POST PURCHASE CONDITIONS

By James Bethe Updates and Announcements

First, we want to thank you for being a valuable partner with CBC Mortgage Agency in facilitating responsible homeownership throughout the country. We value our…

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Jun 26

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18-14: 1003 ON 2ND MORTGAGE ON RATE ADVANTAGE

By James Bethe Updates and Announcements

It has been our process to require a copy of the signed 1003 for the 2nd mortgage on Rate Advantage loans prior to approving the…

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Jun 25

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18-13: POINTS AND FEES CHARGED

By James Bethe Updates and Announcements

***VERY IMPORTANT ANNOUNCEMENT*** It is critical to ensure that transactions are properly structured, and points and fees charged on a transaction are properly reflected on…

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Jun 05

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18-12: CORRESPONDENTS AND MIPs

By James Bethe Updates and Announcements

CBC Mortgage Agency recently updated its policy for the collection of Mortgage Insurance Premiums. Previously, CBCMA would collect monthly MIP based on their investor policy,…

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CBC Mortgage Agency
NMLS: 1186381
912 W. Baxter Drive, Suite 150
South Jordan, Utah 84095

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The Chenoa Fund® program has not been reviewed or approved by HUD or FHA. This site is for information purposes and is used by licensed industry professionals. The site and the information contained therein is not a solicitation to lend money to consumers. For licensing information, go to: www.nmlsconsumeraccess.org. Illinois Residential Mortgage License #MB.6761292. Illinois Department of Financial and Professional Regulation, Division of Banking, 100 West Randolph, 9th Floor, Chicago, IL 60601 – 1-888-473-4858. Georgia Residential Mortgage Licensee, License # 1186381. The Chenoa Fund program is not currently offered in New York.

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