Miki Adams

Can Better Financial Education Help Prevent Foreclosures?

Posted on by TMN Editor
By KIMBERLEY HAAS Foreclosure starts are up nationally and some industry leaders say that better financial literacy could help prevent homeowners from becoming distressed. Lenders started the foreclosure process on 22,575 properties last month. That’s up 11% from a year ago, according to the February 2024 U.S. Foreclosure Market Report by ATTOM. There were a total of 32,938 properties with foreclosure filings – default notices, scheduled auctions, or bank repossessions – according to the report, and lenders repossessed 3,397 properties through completed foreclosures last month. Donna Schmidt, managing director and owner of DLS Servicing in Grand Rapids, Michigan, said in a recent interview with The Mortgage Note that the people most likely to be foreclosed on this year are people…

CBC Mortgage Rebrands Chenoa Fund For 10-Year Anniversary

Posted on by TMN Editor
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…