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

1. CBCMA Training
Series

2. This Training Includes …
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
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. • Before the file has been approved, you
can register/lock the first mortgage and
receive a confirmation.
• You will NOT receive an FOL or any
disclosures until we have reviewed and
approved the file.
• Double-check that you registered with the
correct program; if not, the file may need
to be changed before it can be approved.
Important To Remember

4. • Following approval, you will have access
to these documents:
• A CBCMA Loan Registration Confirmation
(Float) or a Lock Confirmation (Lock)*
• A Funding Obligation Letter (FOL)*
• A Loan Estimate (LE) Package (for
secondary financing)**
• Our Program Guidelines contain a
comprehensive list of all the documents
we require the borrower to sign
(www.chenoafund.org)
*These documents should be generated
directly from our website
** Companies that use their own doc prep
software may not need the LE package
Registration Process Documents

5. How do I gain access
and log in to
CBCMA’s portal?

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. How do I register or
lock a file in CBCMA’s
Portal?

8. • Select “Register New Loan”
• Select Upload FNM 3.2
• Navigate to the 3.2 file
• Select Open
Where to Begin Registrations

9. • Uploading the FNM will pre-fill
most of the fields for you
• Fill out the remaining fields
• Complete all required fields;
anything marked with a red
asterisk should be completed
• Verify that all information has
been uploaded and entered
accurately after completing the
form
• Please note that emails will
need to be in proper format,
including no spaces before or
after the email
• Filler information, such as TBD
or NA, in required fields will
cause your loan to be delayed
Adding New Loan

10. Select the Correct Program
• Select the correct program
and DPA Type
• Note:
• Each program has its
own DTI, credit score,
and income requirements
• It is your responsibility to
understand the
qualifications for each
program

11. Trouble Cells: ULI and Document Date
• The ULI (Universal Loan Identifier) can be found in your company’s LOS
system. For an example of where to find this in Encompass, see next
slide.
• The Document Date is the date printed on the header of all 2nd
mortgage documents we create. It should be within 3 days of application
and LE date. Most lenders just put Doc Date, App Date, and LE Date as
the same.

12. ULI in Encompass
• The ULI can be found underneath HMDA Information.
• The Universal Loan Identifier (ULI) is a unique number of 23 to 45 characters that
begin with your Legal Entity Identifier. The LEI is a unique, 20-digit alphanumeric
identifier issued by a utility and endorsed by the LEI Regulatory Oversight Committee.
• ULIs are required to be HMDA-compliant. CBCMA asks that the ULI for the first lien
be provided at the time of registration.

13. Lock/Register the First Mortgage
• Select, at the top of the screen,
one of the following:
• “Save, Register, Float”
• “Save, Register, Lock”
• Confirm selection; this submits
the loan for approval
• Note: you cannot make any
changes to the borrower or the
property information once a
loan is submitted
• Submit change requests to
submissions@chenoafund.org

14. Process Completion
• View the Registration Status
in the upper left hand corner
• Once processing is
complete, the confirmation
will pop up
• Processing sometimes takes
a few moments to complete

15. • Following registration, click
“Print”
• From here you can save a
copy of the
Registration/Float
Confirmation or the Lock
Confirmation
• Your confirmation can also
be accessed in the “loans”
tab
Print Confirmation

16. • This is a sample
Registration/Float Confirmation
• This form of confirmation
means that the first mortgage
is floating
• If you have a document that
looks like this, you will need to
lock the loan at a later date to
ensure delivery
Sample Registration Confirmation

17. • This is a sample Lock Confirmation
• This document contains:
• When the loan was locked
• The lock term
• The lock expiration
• The lock period needs to extend through
clearing for purchase
• CBC Mortgage Agency currently requires
that all lock periods be set at 60 days
Sample Lock Confirmation