After you draw the LE, don't forget to change the Doc Set Request from Upfront to Final.

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
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. • Secure DPA approval to draw
the LE and closing packages
• See training “How to Secure
DPA Approvals” for more
information
• See training “How to Lock a
Loan” for:
• How to log in
• How to lock a loan in our
portal
Secure DPA Approval

4. • Review a list of all your
loans
• Search loans by the
borrower’s loan number or
last name
Global Loan Status Actions

5. Drawing the FOL and Lock
• FOL: click the “Folder” icon. A new tab will appear. If you don’t see the icon,
you haven’t secured an approval from CBCMA yet.
• Lock/Float: click on the “Padlock” icon. A new tab will appear.

6. • Required in the closed loan package for all
programs
• The letter states:
• Where the down payment is coming
from
• CBCMA’s promise to reimburse your
company for the secondary financing
Funding Obligation Letter
600 N 100 E
Cedar City, UT 84721
Lender: ABC Lender
Loan Application Number: 151110001
FHA Case Number 123-230598230-704
Borrower(s): John Doe
Jane Doe
Purchase Price of Property: $200,000.00
Property Address: 123 Main Street
Anywhere, TN 34222
Form of Assistance: Soft Second
Amount of Assistance: $7,000.00
Interest Rate (If Applicable): 0
Term (If Applicable): 360
Monthly Payment Amount (If Applicable): $0.00
Commitment Date: 11/10/15
As of the commitment date, CBC Mortgage Agency has incurred a legally enforceable obligation to
provide the funds towards the Borrower(s)’ Minimum Required Investment. Lender should
deliver funds for the MRI to the closing entity prior to or at the time of loan closing. CBCMA will
reimburse Lender from funds legally belonging to CBCMA at or before closing under this
obligation once the following conditions are met:
• The first mortgage associated with this assistance must be closed and delivered to CBCMA
for purchase.
• All purchase conditions for the first mortgage associated with this assistance must be
satisfied.
If these items are not delivered to CBCMA, this obligation will be void. WARNING: Failure of
CBCMA to satisfy the obligation may result in a determination that the funds for the Borrower(s)’
MRI were provided by a prohibited source and the first mortgage obligation may not be insurable
under the FHA insurance program.
Sincerely,
MRI Funding Obligation
Image: Soft Second FOL

7. • The LE may be drawn after
the file has been approved
• Go to the Global Loan
Status page
• Search for your loan using
the borrower’s loan
number or last name
Drawing the LE

8. Enter the loan and click on the “Draw My Own Docs” button.
Click on “Draw My Own Docs”

9. After you click “Draw My Own Docs,” a second screen will open
with the package selection options.
Note: in order for this to work, you must have pop-ups
enabled.
Draw My Own Docs

10. Draw My Own Docs
• Select the package you are requesting
• Click “Prepare Package”
• It may take some time for the package to
finish

11. • Download the LE by clicking
“Preview Loan PDF”
• Save the PDF that pops up
Preview Loan PDF

12. • In your system:
• Process your loan file as usual
• Submit to your underwriter
• Clear conditions
• In our system:
• You will need to request loan closing
documents from CBCMA for secondary
financing
• To do this, log back into the Chenoa Fund
portal and access the Global Loan
Status homepage
How to Request Closing Documents

13. • Review a list of all your
loans
• Search loans by the
borrower’s loan number or
last name
Global Loan Status Actions

14. • Change the “Doc Set Request” field to “Final”
• New fields and additional asterisks (marking required fields) will appear
• Complete all to draw or request closing docs; all fields with red asterisk are
100% required
• To change information above the black line (first lien), email
submissions@chenoafund.org
Note: “NA,” “0,” etc, are not acceptable answers.
Doc Set Request and Required Fields

15. • After completing the form, select either “Update/Have Chenoa Fund
Draw Docs” or ”Draw My Own Docs”
• The differences between these two options will be explained on the
next few slides
Select How You Would like to Get Docs

16. Have Chenoa Fund Draw Docs
• Selecting this option will send a
notification to our Submissions inbox
• This notification will only be sent one
time, after you ensure the Doc Set
Request field says “Final” and then click
the “Have Chenoa Fund Draw Docs”
button
CONS
• Any following updates or changes will
need to be sent to
submissions@chenoafund.org
• You will be subject to our standard
processing times.
PROS
• You don’t have to worry about securing all
the documents yourself

17. Draw My Own Docs
• Click the “Draw My Own Docs” button.
Make sure your pop-up blocker is
disabled, and you will be able to draw
docs yourself
PROS
• There is no limit to how many times you
can generate a package
• There is no waiting in the queue for your
docs to be prepared
CONS
• You will be responsible for producing
these documents yourself