v9.5.1—Most Current as of November 16th

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. Possible Niches
• Compare to your State or Municipality HFA:
• How much YSP/SRP do they pay?
• Do they allow for a minimum 620 FICO?
• Do they offer a full 3.5% down payment?
• Do they allow for manual underwrites (as
Chenoa Fund does with the DPA Edge)?
• How available is their funding?
• Do they have origination limits?
• Do they qualify off of qualifying income?
• Do they allow for duplexes (as Chenoa Fund
does with the DPA Edge)?
• Do they offer their programs across state
lines?
• Do they require minimum borrower
investment?

4. Features and Benefits: Overall
• CBC Mortgage Agency is a government entity that offers Chenoa Fund, a tool designed to help
increase homeownership.
• Chenoa Fund increases homeownership by offering qualified borrowers down payment
assistance in the form of 2nd mortgages, resulting in zero down payments.
“Renters looking to buy a home in the near future cited the
following [barrier]… saving enough for a down payment.” -Forbes
• Now is the time to:
• Increase loan volume
• Qualify more customers
• Experience fewer dropped loans
• CBC Mortgage Agency, provider of Chenoa
Fund, is an FHA approved Government Title II
Lender.
• HUD statute allows government entities to
provide down payment assistance
• Chenoa Fund, the premier DPA, offers:
• Simplicity and ease
• Options that can help you and your customers
expand home ownership
• All industry guidelines apply.
• The following marketing ideas can
generate interest and phone calls from
consumers and real estate agents.

5. Features
• DTI based on AUS findings for borrowers
with 660+ FICO
• No first-time homebuyer requirement
(except for Conventional Standard 97)
• Any city, any state (NY excluded)
• Stable, continuous, non-bond funding
• No income limits
Benefits
• Increased purchasing power
• Simplicity
• Purchasing where the customer wants
• Funding will always be available
• Streamlined process
Features and Benefits: Conventional Programs

6. Features
• FICO as low as 620 (for some products)
• DTI based on AUS findings for borrowers
with FICO 660+
• No first-time homebuyer requirement
• Any city, any state (NY excluded)
• Co-borrower assistance with a non-
occupant coborrower (for some products)
• No income limits (for some products)
• Stable, continuous, non-bond funding
Benefits
• Easy for borrowers to qualify
• Increased purchasing power
• Simplicity
• Purchasing where the customer wants
• Qualifying options with the family
• Streamlined process
• Funding will always be available
Features and Benefits: FHA Programs