All policy changes and updates are linked to the appropriate section below. These policy changes are effective 12\/22\/2020 unless otherwise noted. These updates are additional to the updates published on 12\/21\/2020<\/a>.<\/strong><\/p>\n Additionally, CBCMA has compiled all of its announcements related to COVID-19 into one section immediately following the Recent Updates and Announcements section in the Correspondent Lending Guide. To review the program guidelines changes made December 21 or earlier, please follow this link<\/a> to the archived Program Guidelines.<\/p>\n Many servicing-related updates were made recently, requiring this additional announcement. These changes impact both First and Second Mortgage Servicing.<\/p>\n In an effort to simplify the servicing process for borrowers, CBC Mortgage Agency has contracted with a Master Servicer to service loans sold to CBCMA going forward. On first mortgages, this servicer will assume the servicing burden the moment a loan is sold to CBCMA so that borrowers do not experience two servicing transfers within a short period of receiving their loan. Upon implementation, transfer of the first mortgage will happen only once, when CBCMA purchases the loan.<\/p>\n Second mortgages follow a slightly different process than first mortgages since they are owned by CBCMA the moment they are created. (The correspondent advances funds on behalf of CBCMA, the government entity, at closing). Second mortgages drawn through CBCMA\u2019s document service provided free to correspondents will show the servicing address as the Master Servicer. Documents prepared by any other provider can either incorporate our Master Servicer when the documents are prepared or the servicing on the second can be transferred to Essex Mortgage when CBCMA reimburses the correspondent for the funds advanced to the borrower on behalf of CBCMA at closing.<\/p>\n Beginning as soon as possible, but NO LATER THAN JANUARY 31, 2021<\/strong>, when a loan is purchased\/reimbursed by CBCMA, please transfer servicing rights to our Master Servicer.<\/p>\n These updates have changed many sections of our program guidelines. In an effort to be thorough and comprehensive, here are all the changes made (in detail):<\/p>\n 5.34.4<\/strong> (Flood Certificates):<\/p>\n All Programs<\/em>: Any flood certification from a valid vendor is acceptable as long as the flood certification in the file matches the appraiser\u2019s flood information; this must include a life of loan certification. If there is a discrepancy between the two, CBCMA will pull a CoreLogic flood certificate and bill the correspondent the $15 fee on the PA.<\/p>\n All FHA Programs<\/em>: Please note that a property is not eligible for FHA insurance if a residential building and related improvements to the property are located within SFHA Zone A (a Special Flood Zone Area) of Zone V (a coastal area) and insurance under the National Flood Insurance Program (NFIP) is not available in the community. First Mortgage<\/em>: Flood certifications must be from CoreLogic and Service Link; this must include a life of loan certification. If the correct flood certificate is not present, CBCMA will pull a CoreLogic flood certificate and bill the correspondent the $15 fee on the PA.<\/p>\n 7.22<\/strong> (Documentation\u2014General Requirements): A bullet point in the original section was altered.<\/p>\n 10.2<\/strong> (Mortgage Electronic Registration Systems [MERS]): The MERS ORG ID number was updated (1014821).<\/p>\n 11.4.1<\/strong> (Loan Package Contents and Delivery): Information about the \u201cGoodbye Letter\u201d has been updated for the first mortgage, the repayable second mortgage, and the forgivable second mortgage. The text is included in its entirety below.<\/p>\n In order to confirm an accurate notice of transfer of servicing, a \u201cGoodbye Letter,\u201d CBCMA requires a sample copy of the notice of transfer of servicing to be included in the loan package at time of delivery. This applies to all first mortgages. Essex Mortgage<\/strong> The primary, toll free customer service number is (855) 748-2722. Hours are Monday through Friday, 8:30am\u20135:00pm PT. Payments may also be made online at https:\/\/www.essexmortgage.com\/MyAccount<\/a>.<\/p>\n The information of CBC Mortgage Agency\u2019s Master Servicer (address, contact information, etc) to be used for the notice of transfer of servicing, the \u201cGoodbye Letter\u201d for the second mortgage (repayable seconds only), may be found in sections 12.3.5<\/strong> (Repayable 2nd Mortgage Master Servicer General Contact Information), 12.3.6<\/strong> (Repayable 2nd Mortgage Master Servicer General Mailing Address), 12.5.3<\/strong> (Repayable 2nd Mortgage Payment Address), 12.5.5<\/strong> (Overnight Deliveries 2nd Mortgages), and 12.7.2<\/strong> (Second Mortgages [Repayable] [Qualified Written Requests]). The general mailing address is included below:<\/p>\n ATTN: Cashiering<\/strong> The primary, toll free customer service number is (888) 892-0881. Hours are Monday through Friday, 8:30am\u20135:00pm PT. Payments may also be made online at https:\/\/www.essexmortgage.com\/MyAccount<\/a>.<\/p>\n CBC Mortgage Agency\u2019s address and contact information to be used for the notice of transfer of servicing, the \u201cGoodbye Letter\u201d for the second mortgage (forgivable seconds only), is as follows:<\/p>\n CBC Mortgage Agency<\/strong> The primary, toll free customer service number is (866) 563-3507. Hours are Monday through Friday, 8:00am\u20135:00pm MST. Payments do not apply for forgivable seconds.<\/p>\n 12.2<\/strong> (CBCMA Codes): The MERS ORG ID number was updated, and a HUD Servicer ID was added.<\/p>\n 12.3<\/strong> (Contact Information): This section has been updated with Master Servicer information, which created four new sections: 12.3.3<\/strong> (1st Mortgage Master Servicer General Contact Information), 12.3.4<\/strong> (1st Mortgage Master Servicer General Mailing Address), 12.3.5<\/strong> (Repayable 2nd Mortgage Master Servicer General Contact Information), 12.3.6<\/strong> (Repayable 2nd Mortgage Master Servicer General Mailing Address).<\/p>\n 12.3.3<\/em> (1st Mortgage Master Servicer General Contact Information)<\/p>\n Essex Mortgage<\/strong> 12.3.4<\/em> (1st Mortgage Master Servicer General Mailing Address)<\/p>\n Essex Mortgage<\/strong> 12.3.5 <\/em>(Repayable 2nd Mortgage Master Servicer General Contact Information)<\/p>\n Essex Mortgage<\/strong> 12.3.6<\/em> (Repayable 2nd Mortgage Master Servicer General Mailing Address)<\/p>\n ATTN: Cashiering<\/strong> 12.4.3<\/strong> (Mortgagee Clause): The mortgagee clause for first and second mortgages (repayable and forgivable) has been updated. 12.5<\/strong> (Borrower Payment Addresses): This section has been updated with Master Servicer information: 12.5.1<\/strong> (1st Mortgage Payment Address), 12.5.2<\/strong> (1st Mortgage Overnight Delivery), 12.5.3<\/strong> (Repayable 2nd Mortgage Payment Address), 12.5.5<\/strong> (Overnight Deliveries 2nd Mortgage). Section 12.5.4<\/strong> (Forgivable 2nd Mortgage Payment Address) will be included for consistency, though it has not changed.<\/p>\n 12.5.1<\/em> (1st Mortgage Payment Address)<\/p>\n Essex Mortgage<\/strong> 12.5.2<\/em> (1st Mortgage Overnight Delivery)<\/p>\n ATTN: Lockbox 105178 Services – Essex<\/strong> 12.5.3<\/em> (Repayable 2nd Mortgage Payment Address)<\/p>\n ATTN: Cashiering 12.5.4<\/em> (Forgivable 2nd Mortgage Payment Address)<\/p>\n CBC Mortgage Agency<\/strong> 12.5.5<\/em> (Overnight Deliveries 2nd Mortgages)<\/p>\n ATTN: Cashiering<\/strong> 12.6<\/strong> (Wiring Instructions [First Mortgages]): This is a new section with information regarding wiring.<\/p>\n 12.6.1<\/em> (Forwarded Payments\u2014Payment Clearing)<\/p>\n Beneficiary Name: ServiceMac, LLC Bank<\/strong> 12.6.2<\/em> (Forwarded Payoffs\u2014Payoff Clearing Beneficiary)<\/p>\n Name: ServiceMac, LLC<\/strong> 12.7<\/strong> (Qualified Written Requests): This is a new section with information regarding qualified written requests for both first and second (repayable) mortgages.<\/p>\n 12.7.1<\/em> (First Mortgages)<\/p>\n Qualified Written Requests (QWRs) are required to be submitted to the address listed below. When Essex Mortgage is in receipt of a Qualified Written Request (as defined by RESPA), an acknowledgment notice is sent within five (5) business days. We will respond to you within thirty (30) business days of receipt of your written notice, unless otherwise defined by RESPA guidelines.<\/p>\n Essex Mortgage<\/strong> 12.7.2<\/em> (Second Mortgages [Repayable])<\/p>\n Qualified Written Requests (QWRs) are required to be submitted to the address listed below. When Essex Mortgage is in receipt of a Qualified Written Request (as defined by RESPA), an acknowledgment notice is sent within five (5) business days. We will respond to you within thirty (30) business days of receipt of your written notice, unless otherwise defined by RESPA guidelines.<\/p>\n ATTN: Customer Care<\/strong> 12\/22\/2020 All policy changes and updates are linked to the appropriate section below. These policy changes are effective 12\/22\/2020 unless otherwise noted. These updates are…<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[104],"tags":[334],"class_list":{"0":"post-10088","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-updates-and-announcements","7":"tag-program-guidelines"},"yoast_head":"\n
\nA property is not eligible for FHA insurance if the improvements are or are proposed to be located within a Coastal Barrier Resource System (CBRS).
\nFor more information, please refer to FHA 4000.1.<\/p>\n\n
\n
\nThe information of CBC Mortgage Agency\u2019s Master Servicer (address, contact information, etc) to be used for the notice of transfer of servicing, the \u201cGoodbye Letter\u201d for the first mortgage, may be found in sections 12.3.3<\/strong> (1st Mortgage Master Servicer General Contact Information), 12.3.4<\/strong> (1st Mortgage Master Servicer General Mailing Address), 12.5.1<\/strong> (1st Mortgage Payment Address), 12.5.2<\/strong> (First Mortgage Overnight Delivery), and 12.7.1<\/strong> (First Mortgages [Qualified Written Requests]). The general mailing address is included below:<\/p>\n
\nIts Successors and\/or Assigns ATIMA
\nPO Box 100077
\nDuluth, GA 30096<\/p>\n
\n2100 SE 17th Street #112
\nOcala, FL 34471<\/p>\n
\nIts Successors and\/or Assigns ATIMA
\n912 W Baxter Drive, #150
\nSouth Jordan, UT 84095<\/p>\n\n
\nWebsite: https:\/\/www.essexmortgage.com\/MyAccount<\/a>
\nEmail: support@myessexmortgage.com<\/a>
\nToll Free Numbers:<\/p>\n\n
\nIts Successors and\/or Assigns ATIMA
\nP.O. Box 100077
\nDuluth, GA 30096<\/p>\n
\nWebsite: https:\/\/www.essexmortgage.com\/MyAccount<\/a>
\nEmail Address: loanservicing@essexmortgage.com<\/a>
\nGeneral Contact Number: 888-892-0881<\/p>\n
\n2100 SE 17th Street #112
\nOcala, FL 34471<\/p>\n
\nEssex Mortgage<\/strong>
\nIts Successors and\/or Assigns ATIMA
\nPO Box 29411
\nPhoenix, AZ 85038-9411<\/p>\n
\nIts Successors and\/or Assigns ATIMA
\nPO Box 105178
\nAtlanta, GA 30348-5178<\/p>\n
\n3585 Atlanta Avenue
\nHapeville, GA 30354-1705<\/p>\n
\n2100 SE 17th Street #112
\nOcala, FL 34471<\/p>\n
\nIts Successors and\/or Assigns ATIMA
\n912 W Baxter Drive, #150
\nSouth Jordan, UT 84095<\/p>\n
\n2100 SE 17th Street #112
\nOcala, FL 34471<\/p>\n
\nName: Wells Fargo
\nCity, State: Atlanta, GA
\nBeneficiary Account #: 4728377680
\nABA Routing #: 121000248
\nATTN: Reference to transaction, Company Name or loan number<\/p>\n
\nBank Name: Wells Fargo
\nCity, State: Atlanta, GA
\nBeneficiary Account #: 4749659454
\nABA Routing #: 121000248
\nATTN: Reference loan number(s)<\/p>\n
\nPO Box 100078
\nDuluth, GA 30096<\/p>\n
\n2100 SE 17th Street #112
\nOcala, FL 34471<\/p>\n","protected":false},"excerpt":{"rendered":"