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CBC Mortgage Agency has Lowered its Minimum Credit Score to 600 with the Chenoa Fund Down Payment Assistance for DPA Edge Borrowers

CBC Mortgage Agency is lowering its minimum credit score requirement from 620 to 600 with the Chenoa Fund down payment assistance program for DPA Edge Borrowers. Consumers who have young  and/or no credit history have long been hindered from the ability to apply or even qualify for a home loan. Most loans exclude applicants with […]

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Overcoming Lender Challenges: The Latest New Normal Obstacles

Many loan officers came surfing into the first quarter of 2021 on a tidal wave of refinances that seemed unstoppable. Now, many find themselves tumbling to a halt as the tide ebbs just as quickly as it initially surged in. Sure, there’s still a market for refinancing, but many mortgage companies and loan officers are […]

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21-08-12 Announcement—August 12 2021 Program Guidelines Update

08/12/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 08/12/2021 unless otherwise noted. To review the program guidelines changes made August 5, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. . Update Regarding the CBCMA Rate Stack and […]

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Chenoa Fund: Did You Know? Homebuyers may be able utilize Chenoa Fund down payment assistance with duplexes

Did you know? CBC Mortgage Agency’s Chenoa Fund down payment assistance allows some borrowers to purchase duplexes, provided the down payment assistance product used is one of the DPA Edge products. This makes Chenoa Fund’s DPA Edge products unique because few statewide down payment assistance programs include duplexes among the home types that a borrower […]

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21-07-28 Announcement—July 28 2021 Program Guidelines Update

Effective 07/28/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 07/28/2021 unless otherwise noted. To review the program guidelines changes made July 15, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. . In 5.16 (Alternative Qualification Requirements), the […]

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21-07-15 Announcement—June 15 2021 Program Guidelines Update

Effective 07/15/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 07/15/2021 unless otherwise noted. To review the program guidelines changes made June 30, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. . Announcements CBC Mortgage Agency has made […]

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Combating Housing Shortages and Price Increases on Homes

Does anyone still remember 2019? Remember relaxing in your living room, enjoying the view, and looking forward to having friends or family come and visit (in person!) over the weekend? At that idyllic moment, who would have ever imagined that the world would be turned upside-down in just a matter of months and that things […]

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DPA Edge Minimum FICO Requirement Updated to 600—Chenoa Fund Guidelines Update

Effective July 15, 2021, CBC Mortgage Agency will be lowering the FICO Score from 620 to 600 on all DPA Edge products, including the 3.5% and 5% DPA options. More details to come. The post DPA Edge Minimum FICO Requirement Updated to 600—Chenoa Fund Guidelines Update appeared first on Chenoa Fund - Down Payment Assistance.

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How A Down Payment Assistance Program Benefits Lenders, Real Estate Agents And Homebuyers

Down payment assistance needs to provide value for lenders, real estate agents, and homebuyers. Lenders need to be profitable, real estate agents need to combat home buying challenges, and homebuyers need an opportunity to build wealth. With CBC Mortgage Agency’s Chenoa Fund, each party can be satisfied and find the perfect opportunity to take advantage of […]

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21-06-30 Announcement—June 30 2021 Program Guidelines Update

06/30/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 06/30/2021 unless otherwise noted. CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section of the Correspondent Lending Guide. To review the program […]

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