In CBC Mortgage Agency’s Training Series #2, the presenter reviews all five Chenoa Fund products, AMI calculation, the Pre-Registration process, and our Underwriting overlays. Please remember that all of our correspondent lenders are considered delegated underwriters. With that in mind, please follow industry standards when underwriting.
Training Resources
Training #1 – For Loan Officers https://goo.gl/XC7ihJ
Training #2 – For Underwriters https://goo.gl/ZsCs3F
Training #3 – Locks, Registration, & Closing Docs https://goo.gl/kPoj5f
Training #4 – Purchase Clearing https://goo.gl/nc5z2Z
Training #5 – Final Docs & Servicing https://goo.gl/GWUPds
- What Is Chenoa Fund
The Chenoa Fund is down-payment assistance program provided by CBC Mortgage Agency. Under the program, buyers who meet certain eligibility criteria may receive a second mortgage to cover the 3.5% minimum down payment requirement when purchasing an FHA-insured or conventional loan. By helping home buyers responsibly meet that minimum investment required for a mortgage, we create healthier communities by improving the balance between homeownership and other housing types. Homeownership is the number one creator of household wealth.
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Contact Us
Chenoa Fund
912 W. Baxter Drive, South Jordan, Utah 84095
866-563-7572
https://chenoafund.org
- What Is CBC Mortgage Agency (CBCMA)
CBC Mortgage Agency (CBCMA) is a federally chartered, public-purpose government lender. CBC Mortgage Agency (CBCMA) created Chenoa Fund to help lenders to assist their borrowers to obtain the 3.5% minimum required investment on an FHA loan.
CBC Mortgage Agency (CBCMA) partners with quality mortgage lenders on a correspondent basis to provide down payment assistance for qualified home buyers in the form of second mortgages. All assistance is provided in compliance with FHA guidelines. Our affordable housing programs help meet the needs of an under-served population.
CBC Mortgage Agency (CBCMA)
912 W. Baxter Drive, Suite 150, South Jordan, Utah 84095
866-563-3507
http://cbcmortgageagency.org