Category Archives: Chenoa Fund Updates

All policy changes and updates are referenced below in the appropriate section of the Correspondent Lending Guide. These policy changes apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning 2/27/2024, unless otherwise noted. This announcement, and previous announcements are available on the Announcements page of our website. Announcement: Change […]

Last spring, the California Housing Agency (CALHFA) announced it was offering $300 million in down payment assistance (DPA) under its California Dream for All program. A program created to help low-to-moderate income, first-time homebuyers purchase a home in California.  When the program was launched, it was first come, first served. It was so popular that […]

Borrowers now receive additional support with lowered interest rates in the first years of homeownership, plus down payment assistance. SOUTH JORDAN, Utah – December 05, 2023 – CBC Mortgage Agency (CBCMA), a Native American wholly owned and federally chartered housing finance agency, is introducing a buydown feature for its down payment assistance (DPA) program for […]

All policy changes and updates are referenced below in the appropriate section of the Correspondent Lending Guide. These policy changes apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning December 4, 2023, unless otherwise noted. This announcement, and previous announcements are available on the Announcements page of our website. […]

At a time when home prices and interest rates are placing homeownership increasingly out of reach for first-time buyers, access to down payment assistance (DPA) has never been more important or valuable. In fact, according to a 2023 Bankrate Financial Security Survey, 40% of potential homebuyers cited not being able to afford a down payment […]

First rate reduction in company’s recent history will lower housing payments and bring more prospective homeowners into the fold SOUTH JORDAN, Utah – November 14, 2023 – CBC Mortgage Agency (CBCMA), a federally chartered housing finance agency, is reducing its interest rate on repayable second mortgages used for its down payment assistance (DPA) program. For […]

All policy changes and updates are referenced below in the appropriate section of the Correspondent Lending Guide. These policy changes apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning November 13, 2023, unless otherwise noted. This announcement, and previous announcements are available on the Announcements page of our website. […]

New Program Announcements November 2023  All policy changes and updates are referenced below in the appropriate section of the Correspondent Lending Guide. These policy changes apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning November 8, 2023, unless otherwise noted. This announcement, and previous announcements are available on the Announcements […]

The Community Reinvestment Act, commonly known as the CRA, has been a pivotal law in the banking industry since 1977. Designed to curb discriminatory lending practices, the CRA requires banks to extend their services to every part of their community, including low- and moderate-income (LMI) areas. These rules, which were last updated nearly 30 years […]

For immediate release: South Jordan, Utah, October 30, 2023 – CBC Mortgage Agency was named a Top Workplace 2023 by Salt Lake Tribune Top Workplaces, for its third year running. The award is based solely on employee feedback. The confidential survey uniquely measures 15 culture drivers that are critical to the success of any organization: […]