In version 8.4 of CBCMA’s Correspondent Lending Guide, published yesterday, CBCMA indicated that, if there was not a Core Logic certificate in the file, CBCMA would pull the certificate and charge $15 to the lender on the PA.
We wish to give our correspondent lenders 30 days notice for such policy changes. Therefore, for the next 30 days, if a file lacks a Core Logic certificate, then CBCMA will pull the Core Logic certificate and pay the $15 ourselves. Starting on April 17, 2020, we will charge $15 to the lender on the PA if there is not already a Core Logic certificate in the file.
We apologize for the confusion. Unless otherwise noted, all guideline and policy changes have a 30-day prior warning beginning the day that they are announced, but we will provide reminders with each announcement if necessary.
Thank you,
CBC Mortgage Agency
