sign up for 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)
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)
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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