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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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22-03-03 Announcement—March 3 2022 Program Guidelines Update

03/03/2022 Version 11.12 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 03/03/2022 unless otherwise noted. To review the program guidelines changes made February 17, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using […]

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Why Mortgage Lenders are Pivoting to Home Purchases Rather Than Refinances

The refinance market has been extremely hot during recent years. Specifically, not long after COVID lockdowns started many lenders found themselves doing so many refinances that it became difficult to make the time to originate a mortgage, much to the frustration of some borrowers looking to take advantage of low rates. But in recent months […]

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22-02-17 Announcement—February 17 2022 Program Guidelines Update

Version 11.11 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 02/17/2022 unless otherwise noted. To review the program guidelines changes made February 3, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the […]

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22-02-03 Announcement—February 3 2022 Program Guidelines Update

Version 11.10 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 02/03/2022 unless otherwise noted. To review the program guidelines changes made January 20, 2022, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the […]

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How Lenders Can Grow Millennial Homeownership

There’s a common misconception among potential homeowners that a 20% down payment is required to purchase a home—in fact, about one in three would-be homeowners believe this according to Freddie Mac. This misconception causes many future homeowners to believe that it will be years before they can purchase a home, or that homeownership will always be out […]

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How Homebuyers can Get a Home with Little to No Down Payment

With home prices rocketing up across the nation, more and more homebuyers are beginning to feel that purchasing a home may just never be in the cards. Fortunately, there are a lot of homebuyer assistance options that can help turn owning a home from a dream to reality. In this article we’ll discuss how homebuyers […]

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