The National Association of Mortgage Brokers (NAMB) has entered into a strategic partnership with the Chenoa Fund, a move aimed at expanding access to affordable homeownership — particularly for first-time and underserved borrowers.
The collaboration will give NAMB members expanded access to the Chenoa Fund’s down payment assistance (DPA) programs, along with training resources and tools designed to help brokers better navigate affordability challenges tied to upfront housing costs.
The Chenoa Fund, administered by CBC Mortgage Agency, offers a range of DPA options, including both repayable and forgivable second mortgages. These structures are designed to bridge the gap for borrowers who may qualify for a mortgage but lack sufficient funds for a down payment or closing costs.
“Mortgage brokers are deeply rooted in the communities they serve and play a critical role in helping borrowers make some of the most important financial decisions of their lives,” said Miki Adams, president of CBC Mortgage Agency. “That’s why we see this as a long-term partnership between CBCMA and NAMB. By working together, we can better support brokers, strengthen advocacy and education, and create real, measurable value for both organizations while helping more families and communities thrive.”
The partnership also includes joint educational initiatives, such as webinars and training sessions, aimed at improving broker familiarity with DPA program guidelines and best practices. That could help reduce friction in originating loans that rely on layered financing structures.
Kimber White, president of NAMB, said the partnership aligns with the organization’s broader focus on sustainable homeownership.
“This partnership equips our members with innovative tools and training that will help them better serve first-time and underserved homebuyers, while reinforcing our commitment to responsible lending and sustainable homeownership,” White said.
For brokers, the partnership comes as affordability pressures continue to sideline otherwise qualified borrowers. Programs like the Chenoa Fund have gained traction as lenders and originators look for ways to expand eligibility without relying solely on rate-driven affordability.
The partnership signals continued momentum behind DPA as a production lever. For originators, deeper access to structured assistance programs and training on how to use them could translate into higher conversion rates among first-time buyers who are constrained by upfront costs, even when income and credit qualify them.
