CBC Mortgage Agency

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

Main: 866.563.3507
Servicing: 866.563.7572
Fax: 435.237.0022

20-14: RATE ADVANTAGE AMI UPDATE TO 135%

April 6, 2020 By

Announcement:

Version 8.5 of the Correspondent Lending Guide brings us a small update to one of our overlays.

On our Rate Advantage program and product, we allowed borrowers to have income that did not exceed 115% of the AMI. With this April 6th update, we are increasing that limit to 135% of the AMI, effective today, April 6th. You can see these changes in sections 5.3.2 and 5.7.

A few other minor semantic changes were put into place in this version as well. If you have questions about those semantics, please email info@chenoafund.org.

Thank you for choosing Chenoa Fund!

Thank you,

CBC Mortgage Agency

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