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.
We remind all correspondents of the following when registering and transferring MINs:

• Select the correct lien type for the loan
• Ensure the loan amount is correct
• Lender organization ID is entered as the Originator for all first mortgages
• CBCMA organization ID is entered as the Originator for second mortgages
• Borrower(s) social security number is correct
• FHA Case Number is entered and is correct (if applicable)
• Enter the CBC Mortgage Agency loan number as Investor Loan Number

The post 20-22: MERS Transfer appeared first on Chenoa Fund - Down Payment Assistance.