Most Current—September 15th, 2020 (v9.2)

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, please send to:
CBC Mortgage Agency
Attn: Post-Closing
912 W. Baxter Dr.
Suite 150
South Jordan, UT 84095
• For trailing documents, please sent to:
CBC Mortgage Agency
C/O DocProbe
1820 Swarthmore Avenue
P.O. Box 2133
Lakewood, NJ 08701
• Title policies and Mortgage Insurance
Certificates can be emailed to
finaldocs@chenoafund.org
Shipping Addresses

6. • Confirm with your admin that you
have been granted access as a
user
• If your admin has granted you
access, you will receive an email
notification with a link
• Follow the email’s on-screen
instructions regarding setting up a
new password
• When registering a Chenoa Fund
loan, or obtaining any relevant
closing documents, use the
Chenoa Fund portal in addition to
your usual process
• It is recommended to use Google
Chrome when using CAP
How to Retrieve Your Password
http://client.chenoafund.org/

7. 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 Note (must be original wet
signed)
• Allonge to Note (must be original wet
signed)*
• 2nd Lien Collateral Documents
• Second Lien Note (must be original wet
signed)
• Allonge to Note (must be original wet
signed)*
*Unless Note is stamped endorsed and
original copy.
Document Requirements—Collateral Documents (1)

8. • All information on the allonges must
match the note exactly or we will request
a correction; this will delay funding
• Allonges sent to us must be original and
wet signed
• Please ensure the Allonge is signed in the
position marked to the right:
• First and second notes—along with
respective Allonges—must always be
shipped together
Document Requirements—Collateral Documents (2)

9. • Trailing Documents are required within
120 days of loan purchase:
• First Lien Mortgage Deed
• Second lien Deed
• Title Policy
• Send Trailing Document Originals to:
CBC/Chenoa
C/O DocProbe
1820 Swarthmore Avenue
PO Box 2133
Lakewood, NJ, 08701
Document Requirements: Trailing Docs

10. • The Final Title Policy can be uploaded; all other trailing docs must be physically shipped
to the relevant address
• Click “Reports and Uploads,” and then “Outstanding Trailing Docs” to access the report
• Conditions will be removed once cleared
Outstanding Trailing Docs

11. • Insuring Documents are required
within 60 days of loan purchase:
• Mortgage Insurance Certificate
Document Requirements: Insuring Documents

12. • Upload outstanding MICs to the “Outstanding Mortgage Insurance Documents” tab to
clear that condition
Outstanding Mortgage Insurance Docs

13. • We do not 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.
• 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.
• 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. Note that this should never
happen before purchase.
• For more information, visit
http://members.mersinc.org
Document Requirements: MERS (1)

14. • We remind all correspondents of the
following when registering and
transferring MINs:
• CBCMA MERS ORG ID: #1012881
• Select the correct lien type for the loan
• Ensure the loan amount is correct
• Lender organization ID is entered as the
Originator for all first mortgages
• CBCMA organization ID is entered as the
Originator for all second mortgages
• The borrower’s or borrowers’ social security
number(s) is correct
• FHA Case Number is entered and is correct (if
applicable)
• Enter the CBCMA loan number as Investor
Loan Number
Document Requirements: MERS (2)

15. • Find outstanding MERS transfers in the “2nd Mortgage Documents/MINS” tab
2nd Mortgage Docs/MINS

16. • Mortgage record changes must be
completed within 15 days of the purchase
date
• Transfer the holder and servicing rights
within FHAC upon insuring the loan
• Send the Mortgage Insurance Certificate
to CBCMA
• CBCMA requires both the holder rights
and the servicing rights to be transferred
to us; CBCMA is an authorized servicer
within FHAC
• If there is a delay on this for any reason,
please email finaldocs@chenoafund.org
for assistance
Document Requirements—FHA

17. Pulling an
Outstanding Trailing
Document Report,
MIC Report

18. Outstanding Reports
• Correspondents may pull
outstanding document reports for
both the Trailing Documents and
the Mortgage Insurance
Certificates within our Client
Portal, without the need of a user
name or password
• Use the following instructions to
walk you through this process
• If there are any issues or
questions, please reach out to
finaldocs@chenoafund.org

19. 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.”

20. 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

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

22. 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

23. 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.