hud mortgagee letter 201906: 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)
hud mortgagee letter 201906: 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)
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.
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. 
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