This document provides an overview of a training on Chenoa Fund programs that includes 13 sessions covering topics like program overviews, income calculations, the URLA, underwriting, locking loans, securing down payment assistance approvals, purchasing processes, servicing, and why to use Chenoa Fund programs. It also compares Chenoa Fund to other state and local HFA programs and provides marketing ideas. The training is designed to help lenders understand and utilize Chenoa Fund, a down payment assistance program through CBC Mortgage Agency, to increase homeownership by offering zero down payment options to qualified borrowers.

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 URLA
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? 5%?
• 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
• 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)
• Stable, continuous, non-bond funding
• 5% DPA with Rate Advantage and Soft
Second
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