Conversation: Hispanic Homebuyers Will Be Critical for the Next Housing Market Recovery (Urban Wire)

On May 6th, 2020, Urban Wire posted an article about Hispanic homebuyers and the post-COVID housing market recovery—Hispanic Homebuyers Will Be Critical for the Next Housing Market Recovery. Here’s Why They May Struggle. The following quote quickly summarizes the article: “The youth and high labor force participation rates of Hispanics position them well to help […]

20-24: Undisclosed Debt Monitoring Policy

All FHA Programs: All borrowers must have at least one credit score. To be sure that there is no new adverse credit activity, new debt, or material inquiries, CBCMA requires a soft pull credit report or UDM (Undisclosed Debt Monitoring) report within ten days prior to close. CBCMA highly recommends correspondents utilize a debt monitoring […]

Conversation: DPA Doesn’t Cause Loans to Default.

Despite the focus of the world largely being on COVID-19 and quarantines right now, the battle for down payment assistance (DPA) continues to rage quietly in the background. In the most recent instance, HUD has expressed intent to limit (or shut down) national down payment assistance programs, which would effectively create regulatory monopolies in every […]

Introducing Policy & Research

As you may have noticed in our last post, CBCMA has some strong opinions about how HUD and the other governmental authorities should fit and function in our industry. While sustainable housing is our mission, it is critical that law makers, legislatures, and others provide critical guidance and support to programs like ours. – Through […]

20-22: MERS Transfer

All mortgage loans, first and second liens, must be transferred to CBC Mortgage Agency as Investor (owner/beneficiary) and Servicer through MERS at the same time the first mortgage is transferred, which will be within seventy-two (72) hours after the first mortgage is purchased, but never before purchase (MERS ORG #1012881). Review this in section 10.2. […]

How to Teach Homebuyers About Wealth Accumulation

Recently, we’ve been talking a lot about how homeownership is a very effective tool for wealth accumulation, particularly for low- to moderate-income borrowers. However, not every borrower has a clear understanding of what it means to accumulate wealth through homeownership; they just know that it happens. This article is intended to help you teach them […]

FHA Classic: The First Non-DPA Chenoa Fund Program

FHA Classic: Chenoa Fund’s First Non-DPA Program A lot has changed in the mortgage industry recently; quarantines and shutdowns have forced everyone to evolve quickly in response to the coronavirus pandemic, and the results haven’t always been good. In particular, borrowers with low credit have been hit hard, and many can’t find lenders willing or […]

Chenoa Fund

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