CBC Mortgage Agency President Richard Ferguson seeks to dispel misconceptions that negatively impact thousands of borrowers A groundbreaking report released by the Harvard Joint Center for Housing Studies found that down payment assistance programs had little impact on loan performance. The center’s Working Paper, “A Cautionary Tale of How the Presence and Type of […]
November 5, 2019 DPA Does Not Contribute to Higher Defaults. A recent Harvard working paper prepared for the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis by Michael Stegman, et al., using extensive data from 46,000 loans originated principally between 1995-2005 with high LTV (median 97%), found that the receipt […]
NCAI Calls Upon HUD to Engage in ‘Meaningful’ Government-to-Government Consultations The Cedar Band of Paiutes today applauded the National Congress of American Indians’ (NCAI) resolution responding to the Department of Housing and Urban Development’s (HUD) issuance of Mortgagee Letter 19-06 on April 18, 2019. The HUD Mortgagee Letter attempted to assert that “tribes are […]
Introduction to Newsletter This is the first of what we are planning to be a weekly newsletter. In the newsletter we seek to provide you with important information about the Chenoa Fund in the form of: Program changes and updates Announcements Training updates, webinars, and more Marketing resources you can use with borrowers and realtors […]
Of all the barriers blocking people from becoming homeowners, one stands out above the rest: the down payment. For many young or low-to-median-income Americans, the prospect of accumulating a big chunk of cash to put down on a home seems virtually impossible – especially if they lack family members able to give or loan them […]
The homeownership rate for Hispanics has jumped in recent years, a fact that could buoy the housing market for years, according to a recent Wall Street Journal 1 article. The homeownership rate of Hispanics is on the rise according to a recent Wall Street Journal article. It was only three years ago that homeownership […]
Bill includes critical language encouraging HUD to collect data from governmental entities providing down payment assistance WASHINGTON – CBC Mortgage Agency (CBCMA) today applauds the unanimous passage (31-0) of legislation that includes language encouraging the Department of Housing and Urban Development (HUD) to collect data on which governmental entities provide down payment assistance to […]
