chenoa fund: Federal Judge grants injunction blocking Mortgagee Letter 2019-06 - 07/17/19 07:54 AM
Yesterday, a Federal Judge in St. George, UT issued an injunction blocking HUD from implementing HUD Mortgagee Letter 2019-06.  Details are still emerging, but CBC Mortgage Agency, the plaintiff, will continue its mission to serve low-to-moderate income homebuyers achieve the dream of home ownership.  
 
Mortgagee Letter 2019-06 would have forced CBC Mortgage Agency to lend only on tribal lands or to tribal members, so this injunction allows them to follow their federal charter and lend throughout the United States.  The ruling precedes a deadline of July 23rd previously set by the court and HUD to implement the Letter.  With the injunction, HUD … (1 comments)

chenoa fund: HUD's new rules on Down Payment is the top story of 2019 - 07/05/19 10:51 AM
Chenoa Fund, offered by CBC Mortgage Agency, provides 1st and 2nd mortgage products on a national level to home buyers who need assistance with their down payment. 
 
 
HUD's new rules on Down Payment is the top story of 2019 according to HousingWire.   HUD's mortgagee letter 2019-06 took effect April 18th of this year.  This was followed by a flurry of legal activity with CBC Mortgage Agency suing HUD over the rule and the court issuing a 90-day stay to hear the arguments against the Mortgagee letter.  This stay remains in effect until July 23rd, but it is anticipated that the court will make … (0 comments)

chenoa fund: Rental Markets create a squeeze gate for home purchases - 06/28/19 10:35 AM
Two recent articles analyze the Rental Market and the affordability of renting vs. buying.  The first, a housingwire article, cites a Freddie Mac survey that 82% of renters now view renting as more affordable than homeownership.  Compare this article to a recent Rent Report by Zumper; it states that some markets such as the most expensive, San Francisco, CA, command a two-bedroom rental rate of $4720 a month!  When rental markets are strong, there is typically a lack of affordable housing or financial ability to obtain a mortgage.  Boise, Idaho, for example, suffers from a lack of affordable housing because the average … (0 comments)

chenoa fund: DPA Edge Forgivable Loan-- A win for responsible homebuyers - 06/19/19 10:06 AM
The Chenoa Fund, offered by CBC Mortgage agency--a federally-chartered housing finance agency,  helps borrowers all across the country with our suite of mortgage products.  These products assist homebuyers with their down payment in the form of a 2nd mortgage on both FHA and Conventional products. 
 
One product in particular, the DPA Edge Forgivable, puts the borrower in a better position financially because of its aggressive loan forgiveness feature. The DPA Edge Forgivable or Soft Second is a fully-disclosed, fully-recorded 2nd mortgage that lives on title, but requires no payment.  The DPA Edge Forgivable has no interest rate, and it is forgiven after 36 … (0 comments)

chenoa fund: Get approved with Chenoa Fund--Correspondent Lending - 06/14/19 12:22 PM
(This Post is written for Lending Companies seeking to offer our products)
CBC Mortgage Agency, a nationally-chartered housing finance agency, offers the Chenoa Fund, a program that provides a 96.5% 1st mortgage and a 3.5% 2nd mortgage on FHA Loans.  Lenders use our program like they would their local, municipal housing program to give more options to prospective homebuyers regarding down payment assistance.
Our program offers the following:
FHA 96.5% 1st mortgage at a competitive rate FHA 3.5% 2nd mortgage to cover down payment FICO scores as low as 620 DTI as per AUS up to 56.99 on FHA Options for all income … (0 comments)

 
Shawn King, Chenoa Fund--Get Signed Up. (CBCMA / CBC Mortgage Agency)

Shawn King

Chenoa Fund--Get Signed Up.

Los Angeles, CA

More about me…

CBCMA / CBC Mortgage Agency

Address: Lender Approval Chenoa Fund, Corporate Account Director , Los Angeles, CA

Office: (208) 991-8239

Mobile: (208) 991-8239

Email Me

I help correspondent lenders get approved with Chenoa Fund, offered by CBC Mortgage Agency. I've been associated with the real estate industry for over 15 years.


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