CBC Mortgage Agency Celebrates Five Year Anniversary – NMP Skip to main content

CBC Mortgage Agency Celebrates Five Year Anniversary

NationalMortgageProfessional.com
Jan 27, 2020
CBC Mortgage Agency has announced that in 2020, the company is celebrating its five-year anniversary

CBC Mortgage Agency has announced that in 2020, the company is celebrating its five-year anniversary. For a half-decade, CBC Mortgage Agency has been enabling American families to buy a home when they otherwise would be unable to save for a downpayment, and helping them create wealth in the process.
 
Founded by the Cedar Band of Paiute Indians, whose reservation is situated in Cedar City, Utah, CBC Mortgage Agency (CBCMA) provides downpayment assistance using traditional and forgivable second mortgages. Correspondent lenders then originate, process and close the first and second mortgages, and sell them to CBCMA. The company closed its first transaction in November 2014 and has since helped nearly 20,000 families achieve homeownership through downpayment assistance.
 
A November downpayment assistance study by CBCMA found that more than half of buyers that received DPA are racial or ethnic minorities, and that more than one-third of all borrowers are the first in their family to buy a home.
 
"I am proud of our team for helping so many families achieve homeownership over the past five years," CBC Mortgage Agency President Richard Ferguson said. "Based on a sizable sample of our transactions, we estimate that our average homebuyer has reaped more than $25,000 in equity appreciation since buying their home. There really is no greater tool for helping creditworthy buyers and their families build wealth than owning a home."

 
Published
Jan 27, 2020
Lakeview Loan Servicing Faces Multiple Lawsuits Over Data Breach

At least a dozen civil lawsuits have been filed against the company, all seeking class-action status.

Industry News
May 26, 2022
Homepoint Rolls Out Jumbo ARM Loans

Homepoint's Jumbo ARM is a strategic addition to the company’s expanding jumbo portfolio.

Industry News
May 25, 2022
Planet Home Lending Expands in Oregon

New team in Portland focuses on construction lending in the Northwest.

Career
May 24, 2022
PennyMac Cutting 207 Jobs

A wide variety of positions are affected.

Industry News
May 24, 2022
Loan Officer Charged With Bank Fraud, Identity Theft

If convicted, she faces up to 30 years in federal prison on each bank fraud count and a mandatory consecutive 2 years’ imprisonment.

Industry News
May 24, 2022
Openn Launches Pilot with bridgeMLS For Sales In California

Agents in Northern California, Bay Area will be able to list property and accept offers using the platform. 

Tech
May 24, 2022