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22-05-12 Announcement—May 12 2022 Program Guidelines Update

05/12/2022 Version 12.1 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 05/12/2022 unless otherwise noted. To review the program guidelines changes made May 2, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. (You are also able to review […]

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 Effective Immediately:  CBC Mortgage Agency Suspension of Conventional DPA Offerings

Effective Immediately, CBC Mortgage Agency is suspending all DPA Offerings on all conventional loans.  Any locked loan will be honored.  If you have a loan registered and a purchase contract executed and need to use our conventional program, please contact us for an exception to this suspension. This change has NO IMPACT on our FHA […]

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Overcoming Barriers to Minority Homeownership

In 2010, the US Department of Housing and Urban Development released the article “Barriers to Minority Homeownership.” The top three barriers detailed in this article were the down payment and closing costs, lack of access to credit and poor credit history, and a lack of understanding and information. Unfortunately, over a decade later, many reports […]

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5 Financial Challenges for First-time Homebuyers

With interest rates rising along with home prices, there may be no better time to get started financially preparing to buy a home than now. Here are a few financial challenges common to would-be homebuyers for you to be aware of. Down payment and closing costs. The down payment on a mortgage is the minimum […]

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22-05-02 Announcement—May 2 2022 Program Guidelines Update

05/02/2022 Version 12 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 05/02/2022 unless otherwise noted. To review the program guidelines changes made March 3, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. (You are also able to review […]

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Announcement: EPDs

CBC Mortgage Agency would like to notify our Correspondent partners that a recent population of EPDs issued to certain lenders may have been communicated in error. In some cases, 2nd mortgage delinquencies were inadvertently included in bulk reporting. We recognize the error and are working to resolve this issue as soon as possible. We will […]

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How Inflation May Impact Lenders

“Transitory inflation” has proven to have much more staying power than the word transitory might suggest, and as a result many borrowers are seeing the purchase of a home grow ever more difficult—specifically, more expensive. For borrowers familiar with the unprecedentedly low rates of yesteryear, this can be extremely frustrating, or even feel unfair. However, […]

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Guide to Qualifying for Down Payment Assistance

There are a variety of reasons that future homebuyers across the nation are looking into down payment and closing cost assistance programs right now. With the recent rise in interest rates, along with home prices that have been rising for a while, many borrowers need down payment assistance (DPA) just to afford the home in […]

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Announcement Regarding EPDs

With the COVID national emergency behind us, CBC Mortgage Agency has returned to normal operating practices regarding processing, invoicing, and adherence to normal EPD practices, in according with HUD requirements. Due to COVID-19 and forbearance rules still currently in place for certain borrowers, some EPD notifications you receive will be for informational purposes only, indicating […]

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Tips for Lenders and Real Estate Agents to Grow Business with Chenoa Fund Down Payment Assistance

With the unpredictable housing market many lenders and real estate agents are looking for additional ways to grow their business. Buyers are still turning out in droves to get a new home making the home buying market extremely competitive. For lenders and real estate agents, this could lead to opportunity within the market if you’re […]

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