{"id":14470,"date":"2024-02-12T08:00:34","date_gmt":"2024-02-12T08:00:34","guid":{"rendered":"https:\/\/chenoafund.org\/?p=14470"},"modified":"2024-02-09T18:53:36","modified_gmt":"2024-02-09T18:53:36","slug":"program-guidelines-update-announcements-2-12-2024","status":"publish","type":"post","link":"https:\/\/chenoafund.org\/program-guidelines-update-announcements-2-12-2024\/","title":{"rendered":"Program Guidelines Update Announcements 2\/12\/2024"},"content":{"rendered":"<p>All policy changes and updates are referenced below in the appropriate section of the Correspondent Lending Guide. These policy changes apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning 2\/27\/2024, unless otherwise noted.<\/p>\n<p>This announcement, and previous announcements are available on the Announcements page of our website.<\/p>\n<p><strong>Announcement: Change in Sub-Servicer<\/strong><br \/>\nCBC Mortgage Agency has engaged Midwest Loan Services for sub-servicing on its repayable 2nd lien portfolio. As a result, effective with ALL closings that take place on or after February 27, 2024, information for Midwest Loan Services must be used on applicable documents in the repayable 2nd lien closing package.<\/p>\n<p>This includes these repayable 2nd lien documents:<\/p>\n<p>\u2022 The payments section in the 2nd lien Note.<br \/>\n\u2022 The Notice of Servicing Transfer.<br \/>\n\u2022 The First Payment Letter.<\/p>\n<p>The information for Midwest Loan Services is:<\/p>\n<p><strong>Correspondence, Payment, and Borrower Information (Repayable, 2nd Liens Only):<\/strong><\/p>\n<p>Midwest Loan Services<br \/>\nP.O. Box 209<br \/>\nHancock, MI 49930 www.midwestloanservices.com<\/p>\n<p>Phone number: 800\u2010262\u20106574<br \/>\nHours of operation: 8:00AM to 8:00PM EST Monday\u2010Friday<br \/>\nEmail Address: customerservice@midwestloanservices.com<\/p>\n<p><strong>Mortgagee Clause Info (Repayable, 2nd Liens Only)<\/strong><br \/>\nLENDER\/SERVICER, ISAOA\/ATIMA<br \/>\nc\/o Midwest Loan Services<br \/>\nP.O. Box 39159<br \/>\nSolon, OH 44139\u20100159<\/p>\n<p>Please note that lenders should continue to use the MERS information that is already in the program guidelines.<\/p>\n<p><strong>Announcement: New Post-Purchase Condition(s)<\/strong><\/p>\n<p>Effective with all loans purchased by CBC Mortgage Agency on or after 02\/27\/24, CBC Mortgage Agency will require a copy of the goodbye letter sent to the borrower(s) of the 1st lien loan. Correspondents will be required to upload this document in the QC section of the client portal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All policy changes and updates are referenced below in the appropriate section of the Correspondent Lending Guide. These policy changes apply to everyone using the&#8230;<\/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":[42,334],"class_list":{"0":"post-14470","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-updates-and-announcements","7":"tag-chenoa-fund","8":"tag-program-guidelines"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Program Guidelines Update Announcements 2\/12\/2024 - CBC Mortgage Agency<\/title>\n<meta name=\"description\" content=\"Access policy changes that apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning 2\/27\/2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chenoafund.org\/program-guidelines-update-announcements-2-12-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Program Guidelines Update Announcements 2\/12\/2024 - 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