Announcement 1: It has come to CBC Mortgage Agency’s attention that some of our correspondents are sending trailing Docs to CBC’s previous address. Please note that all trailing docs needs to be sent to the following:
912 W Baxter Dr. Ste 150
South Jordan, UT 84095
Announcement 2: Take Survey and Sign Petition
Can you please assist CBC Mortgage Agency by taking 2 minutes or less to fill out a short survey and sign a petition in support for withdrawal of the HUD Mortgagee Letter 2019-06.
Step 1. Click on the following link. https://chenoafund.org/hud-mortgagee-letter-2019-06/
Step 2. Click on Lender/Realtors tab.
Step 3: Complete the survey, sign, and click submit.
On April 18, 2019, FHA issued a Mortgagee Letter 19-6 regarding a new policy on the provision of down payment assistance. The issuance of this letter has been cause for much confusion regarding the operation of down payment programs throughout the United States and whether loan officers can continue to offer such programs to qualifying borrowers.
On April 23, CBC Mortgage Agency filed a law suit against HUD for engaging in rule making without proper public notice and comment. Subsequently HUD agreed to a 90-day stay on the Mortgagee Letter, while the case is heard in Federal Court.
We need your help to let HUD know of the value Chenoa Fund DPA programs provide your borrowers.
Chenoa Fund DPA Update
Chenoa Fund down payment assistance programs are available in the United States as they were prior to the April 18. Having secured the 90-day stay, all loans with a case number issued on or prior to July 23rd are eligible for purchase, just as they were prior to the issuance of the mortgage letter