In the newsletter we seek to provide you with important information about the Chenoa Fund. In this issue, find:
CBC Mortgage Agency officially published its monthly update to the official guidelines on February 14, 2020
We’re excited to announce Correspondent Lending Guide version 8.3.
This update brings several important changes to our policies and procedures. We hope these changes provide increased ease of use for Chenoa Fund down payment assistance.
You will also want to send the MIC to CBCMA. CBCMA will transfer both the Holder and Servicing Rights into the names of our investors, when appropriate, following the close.
If there is a delay on this for any reason, please email email@example.com for assistance.
IMPORTANT: New Marketing Policy
All marketing materials or advertisements created with the intent of securing loans using Chenoa Fund outside of content provided to you by CBCMA must be reviewed and approved by CBC Mortgage Agency before being released or published. Requests for review and approval of lender marketing material should be submitted using this form here.
If CBCMA’s legal review team finds the submitted marketing materials to be non-compliant, requests for changes will be sent back to the correspondent lender. If the updated material containing the required changes is not received by CBCMA within seven days, then a new request will need to be submitted.
If a correspondent lender is found using marketing material that hasn’t been approved and/or is noncompliant, the lender may be subject to suspension from doing business with CBCMA. Any questions about compliance issues or marketing materials should be sent to firstname.lastname@example.org.
CBC has been “wheels up” quite a bit this blustery February and the fun is just getting started!
Our marketing team kicked off the month off with a tour of Facebook, working with them on ways to get around the lender advertising regulations on Facebook. We know this is a large issue for each of you, and in our LenderConnect editorial we’ll share some of that education there. We also spoke with them about their large contribution to affordable housing that they made at the end of 2019. More on that here.
Thanks to a few of the agents at Keller Williams Silicon Valley for making this happen!
In conjunction with our visit to Hacker Way, Tai Christensen, our Director of Governmental Affairs, represented CBC at the NAR Affordability Forum. This Forum works to identify and resolve the various factors that push American families away from becoming homeowners, and to close racial racial homeownership gaps. You can read their official statement about the event here.
Our next stop was the NAREB (National Association of Real Estate Brokers) Bet on Blalck Mid-Winter event. With over 200 African American agents, lenders, etc in attendance, the discussion around minority homeownership was top of the list. Nevada Attorney General Aaron Ford gave comments on the national increase of African American homeownership and his intentions to work nationally to keep that increase growing.
We’ve got a busy 2nd half of the month heading to:
The following articles have mentioned Chenoa Fund, CBCMA, and/or the Cedar Band Corporation in the past several weeks.
February 11, 2020-National Mortgage Professional: CBC Reports Average Customer Gains $27,000 in Home Equity
February 11, 2012-Scotsman Guide: Downpayment assistance plans aid borrowers in cracking homeownership barriers
February 6, 2020-St. George News: Mortgage agency with Cedar City roots celebrating 5 years of providing down payment assistance
February 12, 2020
8 Ways A Seller’s Agent Can Make A Difference
5 Quick Tips for Realtors to Get Listings Noticed Online
10 Characteristics of a Quality Mortgage Loan Officer
February 3, 2020
What Lenders Should Tell Real Estate Agents about Down Payment Assistance Programs
5 Traits Real Estate Agents Need to Help Lower- to Moderate-Income Homebuyers
Chenoa Fund can now be found on Instagram . Follow and keep up-to-date with the latest happenings. The following is a sample post.
CBC Mortgage Agency is excited to announce LenderConnect which is sent every Wednesday. As you’ve probably seen, we’ve been beefing up our marketing efforts to better support our lenders.
As part of these efforts, LenderConnect was born. Each week there will be an email specific to providing marketing tools, tips, and tricks on how to better market our program. These emails will include:
Chenoa Fund has created a variety of high-quality marketing materials, such as postcards, flyers, door hangers, and yard signs, that you can use to create interest in Chenoa Fund. In this issue we would like to highlight Door Hangers in Marketing Resources. When you go to Marketing Resources scroll to these sections:
The post February 18, 2020: Chenoa Fund Correspondent Newsletter appeared first on Chenoa Fund - Down Payment Assistance.