CBC Adds Rate Buydowns To Its FHA DPA Program

CBC Mortgage Agency introduced temporary rate buydowns to its down payment assistance program for FHA first mortgage financing, the lender announced in a press release. Borrowers have access to either a 2-1 or 1-0 buydown, easing the financial burden on first-time buyers for the first few years of homeownership. “The addition of a 2-1 and a 1-0 buydown feature is CBC Mortgage Agency’s continued response to the ongoing effect of the higher interest rates,” said Cari Zwick, National Program Director. “We’ve had a lot of requests for a buydown feature, and we hope it provides some relief to buyers during the current state of the housing market.” This feature comes just weeks after CBC lowered the interest rate on its…

CBC Mortgage Rebrands Chenoa Fund For 10-Year Anniversary

CBC Mortgage Agency is celebrating its 10-year anniversary by rebranding its correspondent investor and Chenoa Fund Program. The Chenoa Fund has assisted more than 42,000 families with down payments since May 2013 and operates in 49 states and territories. Roughly 75% of the homebuyers who receive down-payment assistance from CBC Mortgage are first-time homebuyers, and about half are minorities. “Our rebrand represents our renewed commitment to extending housing programs, including providing down payment assistance for those who are most in need of it,” CBC President Miki Adams said. “We are proud to support economic stability for homebuying families and their communities, and we look forward to continuing this for many more decades.” At the same time, CBC announced a slew…

Guaranteed Rate’s Mark Leslie Joins CBC Mortgage Agency

Mark Leslie is joining CBC Mortgage Agency as director, capital markets, the company announced in a press release. “During my 22 years as a mortgage trader, I’ve worked through several extreme mortgage market cycles that taught me invaluable lessons that apply to today’s high-rate environment,” Leslie said.  “I look forward to using this experience to help CBC continue to provide down payment assistance programs that enable low- to moderate-income families across America to achieve homeownership.” CBC is a national housing finance agency, recognized as one of the Top 25 Companies in Mortgage & Servicing by MReport. It is the provider of Chenoa Fund, a down payment assistance program offering up to 3.5% of the purchase price. Leslie brings two decades…