This document provides an overview of CBCMA's training series topics and instructions for uploading closed loan documents. It outlines 13 topics that will be covered in the training series, including an overview of all Chenoa Fund programs, how to calculate AMI, the pre-registration and underwriting processes, how to lock and draw documents, and why to use Chenoa Fund. It also provides directions for uploading closed loan images and finalizing the upload process once all documents have been submitted for review. The review typically takes 4-5 business days to complete.
The Attorney Scorecard: Accelerating the Foreclosure Process while Improving ...Cognizant
By integrating a scorecard system in their internal operations, mortgage servicers can monitor and assess attorneys' performance in processing foreclosures to help them manage cost and time.
Understanding the details of the cash flow process and proactively managing the process with clients and vendors bodes well for all parties and supports project success.
First Published in Nov 2007 Contract Management magazine of the National Contract Management Association (NCMA)
How Global Companies Can Successfully Address Threats to Withholding Tax Comp...Ryan
This presentation focuses on the risks associated with incomplete or inaccurate global withholding tax policies and procedures. We identify the areas most vulnerable to over and underpayment, as well as discuss strategies designed to mitigate the associated risks. This presentation with a greater understanding of some of the pitfalls associated with operating in today’s global landscape and how best to navigate the complexity of multinational operations.
Watch the full webinar presentation of these slides here http://ow.ly/VvwzO.
DebtPro123 is a wholesale Debt Relief Provider and has received a flurry of recent market attention through its dealings with brokers, loan mod companies, bankruptcy attorneys, law firms, real estate agents, tax professionals, financial planners and more who were looking to offer this one of a kind program to their past, present and future client base. Our Debt Resolution process is a great opportunity to add a revenue stream to your operations in a growing industry, while offering a superior product to your clients. Our Debt Resolution Program is the safest and most effective debt relief process available to date. In the last eight years, the process has helped customers to offset thousands of accounts, to the tune of millions of dollars. And just so we are clear, we do not work for creditors, banks, or credit card companies.
Help your clients reduce their debts in as little as 18 months! Our unique Debt Resolution Process will give you the edge you need over your competition, while giving your clients a debt relief program that is faster and more effective than other options available to them.
See our website for examples of debts through their respective debt relief programs.
Tami Lehmann, RLF Administrator for Region XII COG, provided a presentation on working with businesses to
help them avoid declaring bankruptcy or defaulting and working with borrowers to assure that payments are made at the conference Create, Challenge, Change: Economic Development Conference for the Denver Region in August 2016. This presentation occurred during the session "Developing Collections Policies that Work."
Special Tax Exceptions in Professional Sports Brendan Caine
This presentation shows some of the past and present techniques used by professional athletes to save money for both themselves and their organization.
Meramec Regional Planning Commission & Meramec Regional Development Corporationnado-web
Linda Loughridge, Fiscal Officer for the Meramec Regional Planning Commission, provided a presentation on administering collections policies for small business lending programs during the conference Create, Challenge, Change: Economic Development Conference for the Denver Region in August 2016. This presentation occurred during the session "Developing Collections Policies that Work."
The Attorney Scorecard: Accelerating the Foreclosure Process while Improving ...Cognizant
By integrating a scorecard system in their internal operations, mortgage servicers can monitor and assess attorneys' performance in processing foreclosures to help them manage cost and time.
Understanding the details of the cash flow process and proactively managing the process with clients and vendors bodes well for all parties and supports project success.
First Published in Nov 2007 Contract Management magazine of the National Contract Management Association (NCMA)
How Global Companies Can Successfully Address Threats to Withholding Tax Comp...Ryan
This presentation focuses on the risks associated with incomplete or inaccurate global withholding tax policies and procedures. We identify the areas most vulnerable to over and underpayment, as well as discuss strategies designed to mitigate the associated risks. This presentation with a greater understanding of some of the pitfalls associated with operating in today’s global landscape and how best to navigate the complexity of multinational operations.
Watch the full webinar presentation of these slides here http://ow.ly/VvwzO.
DebtPro123 is a wholesale Debt Relief Provider and has received a flurry of recent market attention through its dealings with brokers, loan mod companies, bankruptcy attorneys, law firms, real estate agents, tax professionals, financial planners and more who were looking to offer this one of a kind program to their past, present and future client base. Our Debt Resolution process is a great opportunity to add a revenue stream to your operations in a growing industry, while offering a superior product to your clients. Our Debt Resolution Program is the safest and most effective debt relief process available to date. In the last eight years, the process has helped customers to offset thousands of accounts, to the tune of millions of dollars. And just so we are clear, we do not work for creditors, banks, or credit card companies.
Help your clients reduce their debts in as little as 18 months! Our unique Debt Resolution Process will give you the edge you need over your competition, while giving your clients a debt relief program that is faster and more effective than other options available to them.
See our website for examples of debts through their respective debt relief programs.
Tami Lehmann, RLF Administrator for Region XII COG, provided a presentation on working with businesses to
help them avoid declaring bankruptcy or defaulting and working with borrowers to assure that payments are made at the conference Create, Challenge, Change: Economic Development Conference for the Denver Region in August 2016. This presentation occurred during the session "Developing Collections Policies that Work."
Special Tax Exceptions in Professional Sports Brendan Caine
This presentation shows some of the past and present techniques used by professional athletes to save money for both themselves and their organization.
Meramec Regional Planning Commission & Meramec Regional Development Corporationnado-web
Linda Loughridge, Fiscal Officer for the Meramec Regional Planning Commission, provided a presentation on administering collections policies for small business lending programs during the conference Create, Challenge, Change: Economic Development Conference for the Denver Region in August 2016. This presentation occurred during the session "Developing Collections Policies that Work."
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
Dynamics 365 Bid Management for Construction ProjectsDynamic Netsoft
This PDF provides a straightforward guide to using Dynamics 365 for efficient bid management in construction projects. Learn how to streamline processes, improve accuracy, and enhance productivity with practical tips and step-by-step instructions.
https://dnetsoft.com/dynamics-365-bid-management-software
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
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. • Our Purchase Clearing department does
not handle trailing documents, collateral,
FHA, or MERS
• Refer questions pertaining to those types
of documents to our Final Docs
department
• CBCMA’s Purchase Clearing Department
handles conditions
• General questions can be emailed to
purchaseclearing@chenoafund.org
• Scenario questions should be sent to
scenariodesk@chenoafund.org
Important Reminder
4. • CBC Mortgage Agency’s Due Diligence
Partner will complete an initial review of
the loan from the initial package that the
correspondent uploads.
• It is critical that you use the Loan
Delivery Checklist document available
on our website to assist you in gathering
your documents before uploading.
• This produces fewer repetitious conditions
for documentation.
Initial Upload Instructions
5. • To secure a copy of CBCMA’s Loan Delivery
Checklist, contact your account executive.
Loan Delivery Checklist
6. • 2nd Lien Loan Application
• 2nd Lien Loan Estimate*
• 2nd Lien Closing Disclosure*
• 2nd Lien Notice of Transfer of Servicing
• 2nd Lien First Payment Letter for all REPAYABLE seconds. This
must reflect CBCMA’s servicing address:
Statebridge Company, LLC
6061 South Willow Drive
Suite 300
Greenwood Village, CO 80111
• 2nd Lien Note, which must reflect the servicing address above.
• 2nd Lien Mortgage/Deed of Trust
• CBCMA Secondary Financing Disclosure
• CBCMA Letter from the President
• CBCMA Quality Control Release form
• Addendum regarding seller of lender contributions, if applicable-–
applies to loans with seller-paid borrower origination charges
2nd Lien Documentation Requirements
*Must meet TRID timing & delivery requirements
7. • Ensure that the following commonly missed files
are uploaded (to avoid added conditions)
• Tri-merge/three bureau, soft-pull credit refresh,
dated within 10 days of the note date or evidence of
enrollment in a credit monitoring service through
this time period
• Appraisal logging
• 1st Mortgage 1003 – page 3, section H should
always be marked “yes”
• 2nd Mortgage 1003 – must be signed and dated
within 3 days of choosing program. Make sure your
LOS system does not automatically pick up date
from the 1st lien. Loan will then be out of compliance
with TRID
• 1008/LT – Secondary financing govt. box should be
checked. The source should read CBCMA 46-
2780476 (never Chenoa or Chenoa Fund)
• 92800-5B – On page 3, the expiration date should
be 120 days from the commitment issued and
should match the 92900a
• 92900a – Pages 1 and 4 need to be signed by the
lender; page 3 needs the expiration date, which
should match the 92800-5b
Common Mistakes and Commonly Missed Documents – Credit
Package
8. • Ensure that the following commonly missed
files are uploaded (to avoid added conditions)
• MRI Funding Obligation Letter
• First Note and Deed of Trust/Mortgage
• Second Note and Deed of Trust/Mortgage
• LE 2nd lien – 2nd lien follows TRID guidelines
just like first. It must be issued within 3 days of
second lien 1003
• Closing Disclosures – Never use the word
“Chenoa.” It must read CBCMA. This happens
a lot on the first lien when listing the DPA
funds in section L.
• FHA Settlement Cert – Contract date needs to
be included. Your LOS will not auto populate
this for you.
• An executed copy of the assignment of a
second Deed of Trust/Mortgage or evidence
of a second Deed of Trust/Mortgage MIN
transfer in MERS
Common Mistakes and Commonly Missed Documents – Closing
Package
9. Admin Fee Clarifications
• $399 Admin Fee on first mortgage
• Charged to the correspondent
• Reflected on the PA as a deduction from total loan
sale proceeds
• No lender fees on secondary financing
• Additions to the lender fees to offset the Admin
Fee:
• NEVER reflect as a charge payable to CBCMA
• List fee must always be listed in Section A, in
Origination Charges or as a separate line item
Admin charge
• If passed to the borrower, this fee is subject to the
TRID points & fees test.
10. • No lender fees should be charged on
the second.
• The only fees allowed to be charged on
the second are title fees and recording
fees.
Displaying 2nd Lien Loan Fees on the 2nd CD
11. • Review the Buckley Sandler memo on
converting points and fees between
borrower and seller:
https://chenoafund.org/lender/cbc-
documents-and-tools/
• Converting seller credits can pay this fee if
the following is done before closing:
• Borrower has signed an addendum to the
note (found at the above link)
• The fee is itemized in the seller’s column on
the CD
• This allows the charges to not be counted
for the 3% points and fees rule.
Rate Sheet Clarification
• CBCMA:
• Offers one rate for each product and its
FICO band
• Does not charge discount points
• Cannot, in the current market, offer the
alternative par rate necessary for discount
points to be bona fide
• Our rate sheets refer to fees from specific
FICO bands as “Fee Paid by Lender.”
• Any fees paid by the lender to CBCMA are
a reduction in the YSP/SRP.
• If this fee is passed on to the borrower, the
3% points and fees rule applies.
• Fees from corporate margins (from lower
rates) belong in section A of the CD, “points
and fees.”
12. Maximum Origination Fee
• CBCMA will allow a maximum origination
fee of 1.5%.
• Additionally, the lender may charge for any
CBCMA loan level pricing adjustments
(LLPAs).
• Lenders will be required to refund
borrowers for any origination fees (including
non-bona-fide discount points) exceeding
1.5% plus CBCMA LLPAs.
• Reasonable lender underwriting,
administrative, or program fees are not
considered in this calculation; however,
they are considered in the maximum 3%
points and fees test.
13. Follow FHA 4000.1 for guidance.
Overtime, Bonus, or Tip Income refers to income that the Borrower
receives in addition to the Borrower’s normal salary.
The Mortgagee may use Overtime, Bonus or Tip Income as
Effective Income if the Borrower has received this income for the
past two years and it is reasonably likely to continue.
Periods of Overtime, Bonus or Tip Income less than two years may
be considered Effective Income if the Mortgagee documents that
the Overtime, Bonus or Tip Income has been consistently earned
over a period of not less than one year and is reasonably likely to
continue.
For employees with Overtime, Bonus or Tip Income, the Mortgagee
must calculate the Effective Income by using the lesser of:
• The average Overtime, Bonus or Tip Income earned over the
previous two years or, if less than two years, the length of time
Overtime, Bonus or Tip Income has been earned; or
• The average Overtime, Bonus or Tip Income earned over the
previous year.
Overtime and Bonus Income Calculation
14. The DPA must be listed as “CBC Mortgage Agency 2nd Lien” or “CBCMA
2nd Lien” between sections L.04 and L.07.
1st Lien Closing Disclosure (1st Mortgage)
15. • If you take out the net proceeds from
the second lien, make sure you put the
principal balance in parentheses on the
CD for the first mortgage.
• Top screenshot (example): Principal
balance without net proceeds taken
out.
• Bottom screenshot (example): Principal
balance with net proceeds taken out.
• Reminder: If the line doesn’t fit
correctly, you may put “CBCMA 2nd
Lien” instead of “CBC Mortgage
Agency 2nd Lien.”
1st Lien Closing Disclosure (1st Mortgage)
16. • Action Date – The date the appraisal report is reviewed by the underwriter.
This date should be on or after the date the appraiser signs the original
report. The original report should be included in the file along with the
updated report.
92800-5B (part 1)
17. • Commitment Issued – Effective date of the appraisal. That can be
before the date the appraiser signs the report (i.e., the date the
appraiser actually inspects the home.)
• Commitment Expires – 120 days from the Commitment issued date.
92800-5B (part 2)
18. • For the source/EIN, you always have only two options.
• CBC Mortgage Agency 46-2780478
• CBCMA 46-2780478
• You must always select Gov’t. CBCMA is owned by Cedar Band
Corporation, a Native American governmental entity.
92900 LT
19. • Pages 1 and 4 must be signed by the lender and the
borrower.
• Page 3 must be signed by the underwriter.
• If Approve/Eligible DU findings: The “Date Mortgage
Approved” field must be equal to the date of the final
DU (prior to docs) and must also match the
Underwriter Date on the bottom of page 1 of the
92900-LT.
• The “Date Approval Expires” must be equal to the
Commitment expiration date on the 92800.5B form.
• The expiration date of the 92900-A should be the
greater of 90 days from approval or 120 days from the
appraisal expiration date.
• Item 25 (6) should be marked as “Not Applicable” if
the property is dated after 1978.
92900-A
20. How to Retrieve Your Password
client.chenofund.org
• 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
22. • Select either the Orig. Loan # or the pencil on the left hand side.
Select the Correct Loan
23. • Closed loan images can be
uploaded in one batch or in
separate batches, but you
should not click the “Upload
Final FNM and Submit Closing
Docs” button until all closed loan
images are uploaded.
• If all closed loan images are not
included, then it may delay the
review
• Please make sure you upload
the loans to the correct location
• The original closed loan
package has to be uploaded to
the Closing Documents section
underneath the Loan Delivery
section. Otherwise, your review
will be delayed
Check the All Closing Docs Uploaded Box
24. • Drag the files onto the grey
bar
• Files dropped here will be
uploaded for review
Drag and Drop Files to Upload
25. • Once you’ve uploaded all
documents for review,
make sure you click on the
“Upload Final FNM and
Submit Closing Docs”
button to finalize the
process
• Follow the instructions
after you click on the
button
• Do not click on the button
until you’re sure you’ve
successfully uploaded all
documentation
Finalize the Upload Process
26. • The best file format is PDF
• If necessary, our software will accept
most other file types
• Do not password protect or encrypt files
• Clearly label each file
Supported File Types
27. • Review typically takes 4-5 business days
to complete before conditions are
released
• A notification email will be sent after
review is complete and conditions
released
• You will need to designate a contact
person to receive the notifications; if you
are not receiving these notification emails,
please reach out to info@chenoafund.org
• Our purchase clearing team will also be
notified when the conditions have been
released
• Your assigned specialist will reach out to
you, advising that conditions have been
released
• Your assigned specialist will provide
contact info for any questions
Wait for a Review