This document provides an overview and instructions for CBCMA Training Series topics, uploading closed loan documents, and the loan document review process. It outlines 13 training topics, including an overview of all Chenoa Fund programs, how to calculate AMI, the pre-registration and underwriting processes, locking loans, securing DPA approvals, and why to use Chenoa Fund. It provides details on uploading closed loans and supporting file formats. It notes the loan document review typically takes 4-5 days to complete.
The CFPB has published revisions to the TILA and RESPA mortgage regulations in response to changes mandated by the Dodd-Frank Act. The revisions are known as the TILA/RESPA Integrated Disclosures, or TRID. Learn all about the changes by reading through these slides brought to you by Academy Mortgage Corporation
The CFPB has published revisions to the TILA and RESPA mortgage regulations in response to changes mandated by the Dodd-Frank Act. The revisions are known as the TILA/RESPA Integrated Disclosures, or TRID. Learn all about the changes by reading through these slides brought to you by Academy Mortgage Corporation
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
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Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
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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/
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.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Simpolo Tiles & Bathware
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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.
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
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..
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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.
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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.
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.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
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Are you searching for your dream home? Finding the perfect house involves more than just browsing listings; it’s about discovering a space that fits your lifestyle and needs. Whether you’re looking for a cozy suburban home, a chic urban apartment, or a spacious rural property, the right real estate can transform your life. Consider the location, amenities, and potential for future growth. Think about the community, nearby schools, and the convenience of shopping and transportation. A good real estate agent can guide you through the process, from identifying suitable properties to negotiating the best deal. Your dream home is out there, waiting to be found – let’s embark on this journey together!
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.
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
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. 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
12. 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)
13. • 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)
14. • 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)
15. • 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)
16. • 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
17. • 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
18. 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
21. • All closed loan images must be
uploaded at the same time
• If these documents are not all
uploaded at the same time, then
this may delay the review
• We have included this checkbox
so you can indicate, to us, that
everything has been uploaded
• 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
22. • Drag the files onto the grey
bar
• Files dropped here will be
uploaded for review
Drag and Drop Files to Upload
23. • 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
24. • 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