Cedar Band of Paiutes Lauds Bipartisan Letter Urging HUD to Follow Longstanding Tribal Consultation Policy

Congressional Letter Calls on Agency to “Engage in Meaningful Tribal Consultation” Prior to Issuing Rules Affecting Tribal Nations   CEDAR CITY, Utah – The Cedar Band of Paiutes today applauded a letter (attached) sent to U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson regarding Mortgagee Letter 2019-06. The letter, co-sponsored by Reps. […]

What to Expect When You Buy Your First Home

For most people, the biggest purchase they will make in life – by far – is buying a home. It’s an exciting process, but it also can be daunting and fraught with stress.   A bit of anxiety is inevitable. But with some solid planning and research, you can ensure your journey to the day […]

December 19, 2019: Chenoa Fund Correspondent Newsletter

Introduction to Newsletter In the newsletter we seek to provide you with important information about the Chenoa Fund in the form of: Program changes and updates Announcements Training updates, webinars, and more Marketing resources you can use with borrowers and realtors Answers to questions News About Chenoa Fund And more….   Chenoa Fund Releases Revised […]

Cedar Band of Paiutes Applauds New Resolution Calling for HUD to Consult with Tribes

The United South and Eastern Tribes Calls HUD’s Exclusion of Tribal Nations ‘Antithetical’ to Federal Policy   The Cedar Band of Paiutes today commended the United South and Eastern Tribes Sovereignty Protection Fund (USET-SPF) resolution responding to the April 18, 2019 Department of Housing and Urban Development (HUD) issuance of Mortgagee Letter 19-06. The HUD […]

Cedar Band of Paiutes Applauds Sen. Tom Udall’s Remarks Reinforcing Sanctity of Tribal Consultations

The Cedar Band of Paiutes applauds Senator Tom Udall’s (D-N.M.) recent remarks reprimanding a federal agency for its failure to conduct tribal consultations with regard to programs impacting Indian tribes.   In response to the agency representative’s assertion that it did not engage in consultation with tribes because it was not statutorily required to do […]

CBC Mortgage Agency Lauds Chairman Lacy Clay’s Questioning on Down Payment Assistance

Clay Questioned FHA Commissioner Brian Montgomery; Underscored Collecting Data on Individual Government Entities as Paramount to Extending DPA Assistance to Minority Communities   CBC Mortgage Agency (CBCMA) today applauded Chairman Lacy Clay (D-Mo.) of the House Financial Services Subcommittee on Housing, Community Development & Insurance for his supportive remarks regarding down payment assistance (DPA) programs. […]

New Mortgage Industry Report Seriously Challenges Down Payment Assistance Stigma of “High-Rates of Delinquency”

Over the last several years reports have surfaced stating that down-payment assistance exhibit “high rates of delinquency” as in the 2018 Department of Housing and Urban Development’s (HUD) report to Congress1,   “Mortgages with DPA generally exhibit higher rates of delinquency and default, and those with such assistance financed by self-identified governmental entities have higher […]

November 19, 2019: Chenoa Fund Correspondent Newsletter

Introduction to Newsletter This is the first of what we are planning to be a weekly newsletter. In the newsletter we seek to provide you with important information about the Chenoa Fund in the form of: Program changes and updates Announcements Training updates, webinars, and more Marketing resources you can use with borrowers and realtors […]

Studies Find that Down Payment Assistance Programs Don’t Affect Loan Performance

CBC Mortgage Agency President Richard Ferguson seeks to dispel misconceptions that negatively impact thousands of borrowers   A groundbreaking report released by the Harvard Joint Center for Housing Studies found that down payment assistance programs had little impact on loan performance. The center’s Working Paper, “A Cautionary Tale of How the Presence and Type of […]

As Seen in the Chrisman Report

November 5, 2019 DPA Does Not Contribute to Higher Defaults. A recent Harvard working paper prepared for the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis by Michael Stegman, et al., using extensive data from 46,000 loans originated principally between 1995-2005 with high LTV (median 97%), found that the receipt […]

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