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. • 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. • Review typically takes 2–3 business days
to complete before conditions are
released
• Your assigned Purchase Clearing
Specialist (PCS) will reach out to you and
advise when conditions have been
released
• This specialist will reach out to the contact
designated in the file
• Email your PCS or info@chenoafund.org
if you are not receiving
Wait for a Review
5. • Use the same login process
to log in after file review
• Please refer to the training
“Purchase Clearing—
Uploading” for more on
uploading files
• It is recommended to use
Google Chrome when using
CAP
Log Back In
7. Accessing and Clearing Conditions
• Loans with pre-purchase conditions are located in “Purchase Conditions”
• Post-purchase conditions are located in “QC Conditions”
• Select “Upload Loan Images” to view the conditions and to upload images to clear the
conditions
8. Uploading Documents to Clear Conditions
• You can view a list of any
outstanding conditions that
need to be cleared
• Purchase conditions are
conditions we see while trying
to purchase the loan; QC
conditions are conditions we
find after we’ve already
purchased the loan.
• Clear conditions by uploading
the needed documents into
the Purchase Conditions tab
• Accomplish this by dragging
and dropping documents to
the grey bar beneath the list of
deficiencies
• Uploaded documents will be
marked “cleared,” “waved,” or
“unable to clear.” If unable to
be cleared, the reason why
will be noted.
9. Uploaded Documents Added to List
• Uploaded documents
will be added and sorted
alphabetically
• Each document will
include a date and a
time stamp
• Do not send documents
via email
10. Email Your PC Specialist for Escalations
• If you feel a condition is
unclear, or if you
disagree with the validity
of the condition, you
may escalate
• Email your file’s
assigned PC specialist
to escalate