This document provides information and instructions for CBCMA's purchase clearing process. It outlines topics covered in CBCMA's training series, contact information, document requirements, and how to pull outstanding document reports. Key details include document shipping addresses, requirements for trailing documents, insuring documents, collateral documents, FHA/MERS registration, and instructions for correspondents to access outstanding document reports via the client portal.

1. CBCMA Training
Series

2. Topics
1 – All Chenoa Fund Programs Overview
Conventional / FHA
2 – How to Calculate AMI
3 – Pre-Registration: The 1003
Conventional / FHA
4 – Underwriting
5 – Lock Desk
6 – How to Lock a Loan
Conventional / FHA
7 – How to Secure DPA Approvals
8 – How to Draw Documents
9 – Purchase Clearing: Uploading
10 – Purchase Clearing: Conditions and
Escalations
11 – Final Documents
12 – Servicing
13 – Why Use Chenoa Fund
Conventional / FHA

3. • CBC Mortgage Agency’s (CBCMA’s)
Purchase Clearing department does not
handle:
• Trailing documents
• Collateral
• FHA
• MERS
• Our Final Docs department answers
questions about those documents
• Our Purchase Clearing Department
handles conditions
• General questions can be emailed to
purchaseclearing@chenoafund.org
Who to Contact

4. • FHA ID: 9413-00000-8
• MERS ID: 1012881
• NMLS ID: 1186381
• Tax ID: 46-2780478
Chenoa Fund IDs

5. • For collateral and trailing documents,
please send to:
CBC Mortgage Agency
Attn: Post-Closing
912 W. Baxter Dr.
Suite 150
South Jordan, UT 84095
• Title policies and Mortgage Insurance
Certificates can be emailed to
finaldocs@chenoafund.org
Shipping Addresses

6. • Trailing Documents are required within
120 days of loan purchase:
• First Lien Mortgage Deed
• Second lien Deed
• Title Policy
Document Requirements: Trailing Docs

7. • Insuring Documents are required
within 60 days of loan purchase:
• Mortgage Insurance Certificate
• We do not have the ability to pull these from
FHA Connection
Document Requirements: Insuring Documents

8. • Collateral Documents for both first and
second lien loans are required prior to
the purchase of the loan
• 1st Lien Collateral Documents:
• Bailee Letter
• First Lien
• Allonge to Note*
• 2nd Lien Collateral Documents:
• Second Lien Note
• Allonge to Note*
• Everything but the bailee letter must be
original wet signed (but see bullets with
asterisk)
*Unless Note is stamped endorsed.
Document Requirements: Collateral Documents
• Information on the allonges must match
the note exactly or we will request a
correction, which will delay the purchase
of a loan
• Avoid using stamped endorsements on
the back of the note whenever possible

9. • As of November 2017, we no longer
accept assignments for second liens.
• 1st and 2nd lien MINs are required on all
1st and 2nd Lien notes and Deeds.
• They must be the MINs that are also
registered within MERS
• The 1st and 2nd Lien MINs cannot be the
same number.
• Both MINS must be transferred (via
TOS/TOB) to CBC Mortgage Agency
within 72 hours of the purchase of the
loan to remain within compliance with
CBCMA.
• CBCMA must be the investor and the
servicer within MERS for all loans we
purchase. The second lien MIN must be
registered as a “Second Lien MIN” within
MERS with the correct lien amount.
• For more information, visit
http://members.mersinc.org
Document Requirements: MERS

10. • Mortgage record changes must be
completed within 15 days of the
purchase date.
• Transfer the Holder rights within FHAC
upon insuring the loan and send the
Mortgage Insurance Certificate to CBC.
• CBCMA only requires the Holder Rights to
be transferred to us. CBC is not an
authorized servicer within FHAC.
• Our investor will pull servicer rights from
our correspondent’s name once the
investor receives ownership and holder
rights.
• If there is a delay on this for any reason,
please email finaldocs@chenoafund.org
for assistance.
Document Requirements: FHA

11. Pulling an
Outstanding Trailing
Document Report,
MIC Report

12. Outstanding Reports
• Correspondents may pull
outstanding document reports for
both the Trailing Documents and
the Mortgage Insurance
Certificates within our Client
Portal
• Use the following instructions to
walk you through this process
• If there are any issues or
questions, please reach out to
finaldocs@chenoafund.org

13. Visit the Portal
• Use the following link to get to the
Client Portal:
https://client.chenoafund.org/index.ht
ml?screen=correspondentLookup
• Click: “To log in with your
organization NMLS number, Click
here.”

14. Enter Your Information
• Fill out the Correspondent Access
information
• First, locate your corporate Zip
Code and NMLS internally
• Second, reach out to
finaldocs@chenoafund.org to
receive your company’s unique
security code
• Third, please save this
information internally so you can
easily access this page

15. Company Reports
• Select “Reports and Uploads” at
the top of the page

16. Enter Your Information
• Focus on the three pictured tabs;
they contain the outstanding
trailing document reports
• If there is not a date entered into
the “DOT Received Date” field,
this indicates that the document
is missing
• If there is a date shown, this
indicates that we have received
this document

17. Assignments
• The column “2nd Assignment
Received Date” will only show
information if there is a MIN on
the Second Lien Note and
Second Lien Deed
• We will require an assignment if
there is not a MIN on those
documents
• Verify that the MIN listed is the
same as the MIN you have
registered in MERS
• The MINs in our system are
pulled directly from the 2nd Lien
Deeds
• If the MINS do not match, you
will need to reverse the
registration and register the
correct MIN.