Category Archives: Chenoa Fund Updates

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, […]

Written by Cari Zwick, CBC Mortgage Agency Corporate Account Director   As Thanksgiving quickly approaches (it’s tomorrow… can you believe), I just wanted to take a quick second and share some thoughts.   My grateful list looks a little different this year. 2020 has definitely been one for the books! Last year if you would […]

11/16/2020 All policy changes and updates are referenced to the appropriate section of the Correspondent Lending Guide. These policy changes are effective 11/16/2020 unless otherwise noted. Note: This announcement page has been updated since it was originally posted. The most recent update occurred at 11:33 MST, November 16th. Additionally, CBCMA has compiled all of its […]

11/02/2020 All policy changes and updates are viewable in the Correspondent Lending Guide. These policy changes are effective 11/02/2020 unless otherwise noted. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one convenient section in these guidelines. This section can be found immediately after this Recent Updates and Announcements section. To review […]

If you want to get a mortgage, you’re going to need a mortgage lender. Fortunately, the current mortgage market has an absolute wealth of lenders to choose from: lenders that focus on low rates, on low fees, or refinances, and the list goes on. As a result, it can be very difficult to find a […]

Buying a home can be a long and complicated process! For many, especially first-time homebuyers, it’s often filled with a lot of headaches as they try to sift through mountains of information, new vocabulary, lender options, rates, and more. To top it all off, the current market puts even more stress on borrowers as they […]

10/14/2020 All policy changes and updates are referenced to the appropriate section in the Program Guidelines. These policy changes are effective 10/14/2020 unless otherwise noted. Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one convenient section in the Program Guidelines. This section can be found immediately after the Recent Updates and […]

Here at CBC Mortgage Agency (provider of Chenoa Fund), one of our main initiatives is to bridge the gap to homeownership specifically in minority groups. While we understand this is a big feat to undertake, it is with help of partnerships with groups like the National Association of Real Estate Brokers that we are able […]

Section 7.18 of the Correspondent Lending Guide has been updated to the following: 7.18 | Real Estate Taxes Due All escrow disbursements (based on the IEADS provided to the borrower at closing) due the month following the loan purchase must be paid prior to loan purchase with evidence of payment documented (a copy of a […]