All policy changes and updates are referenced below in the appropriate section of the Seller’s Guide. These policy
changes apply to everyone using the Chenoa Fund down payment assistance program and are effective beginning
08/09/2024, unless otherwise noted. This announcement, and previous announcements are available on the
Announcements page of our website.
Correspondent Lending Guide is now known as the Correspondent Seller Guide.
Please kindly note that our Correspondent Lending Guide will now be known as the Correspondent Seller Guide.
This update reflects our ongoing commitment to providing clear and relevant information to our partners. While the
name has changed, the comprehensive information and support you rely on remain the same. Please update your
records accordingly.
Single-wide units are allowed for manufactured housing.
We now allow single-wide units according to FHA guidelines. This change effects the following sections of the
Correspondent Seller’s Guide:
4.5 | First Mortgage
The mortgage type must be FHA 203 (b) 1–2 units, primary residence only. The following property types are
allowed: SFR, PUD, townhome, condo, attached, detached, modular, and manufactured. (Note that manufactured
homes must meet the requirements outlined in Section 5 [Manufactured Housing] of this guide.)
Addendum A Supplement to Correspondent Mortgage Loan Purchase Agreement added to Correspondent
Seller Guide.
To align our Correspondent Loan Purchase Agreement with the Correspondent Seller Guide, we have added Addendum A Supplement to Correspondent Mortgage Loan Purchase Agreement. This Addendum incorporates our
standard Representations and Warranties into the Correspondent Seller Guide.
Update to address and support email for Third-Party Vendor for sending Trailing Documents.
Our Third-party vendor, DocProbe, has updated the address and support email for trailing documents. Please see
below for updated information:
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