01/15/2021 All policy changes and updates are referenced to the appropriate section below. These policy changes are effective 01/15/2021 unless otherwise noted. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section in the Correspondent Lending Guide. To review the program guidelines changes […]
2021 is already shaping up to be a big year. Among many changes coming with president-elect Biden’s inauguration on January 20th, Representative Marcia Fudge (OH), has been selected to be the next secretary of HUD (Housing and Urban Development). CBC Mortgage Agency would like to wish her a warm welcome, and we look forward to […]
The Chenoa Fund Borrower Spotlight shares the stories of borrowers who used Chenoa Fund to become homeowners. Owning a home isn’t for everyone, but there are many Americans who could be homeowners with just a little bit of help. That’s where Chenoa Fund steps in. This is the story of Theo*, who purchased his home […]
01/04/2021 All policy changes and updates are referenced to the appropriate section below. These policy changes are effective 01/04/2021 unless otherwise noted. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section. To review the program guidelines changes made December 22, 2020, or […]
12/22/2020 All policy changes and updates are linked to the appropriate section below. These policy changes are effective 12/22/2020 unless otherwise noted. These updates are additional to the updates published on 12/21/2020. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section […]
12/21/2020 All policy changes and updates are referenced to the appropriate section below. These policy changes are effective 12/21/2020 unless otherwise noted. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following this Recent Updates and Announcements section in the Correspondent Lending Guide. To review the program guidelines changes […]
The Chenoa Fund Borrower Spotlight shares the stories of borrowers who used Chenoa Fund to become homeowners. Owning a home isn’t for everyone, but there are many Americans who could be homeowners with just a little bit of help. That’s where Chenoa Fund steps in. This is the story of Sam*, who purchased his home […]
Chenoa Fund: Myth Versus Fact Quiz Get 100%, win a $5 gift card? (Limited to first X number of winners) Myth or Fact: Chenoa Fund down payment assistance has a universal minimum FICO requirement of 640. Myth! The DPA Edge products have a minimum FICO requirement of 620. Myth or Fact: CBC Mortgage […]
12/07/2020 All policy changes and updates reference the appropriate Correspondent Lending Guide section below. These policy changes are effective 12/07/2020 unless otherwise noted. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section (in the Correspondent Lending Guide itself). To review the program […]
FHFA has announced that the conforming loan limits for 2021 will increase to $548,250. (Find the original announcement here.) CBCMA always follows Agency guidelines with regards to loan limits; conventional loans at or under this limit may qualify for Chenoa Fund down payment assistance, provided they meet Chenoa Fund’s other requirements. Conventional high balance loans, […]
