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DS5: Reconsidering Down Payment Assistance

In this week's episode of DS5: Inside the Industry, the show is joined by Richard Ferguson, President of CBC Mortgage Company.

Ferguson operates the Chenoa Fund, provided through CBC, which is a federally chartered government agency. CBCMA’s mission is to increase affordable and sustainable homeownership, specifically for creditworthy, low and moderate-income individuals.

In an earlier press release, Ferguson said, "State and local DPA programs have made it possible for many minority homebuyers to achieve the American dream. However, a state-by-state approach is not realistic for large lenders who operate in multiple states. Programs like ours enable correspondent lenders to operate with one set of DPA guidelines so they can originate and close loans they are confident will be purchased."

Here, Ferguson discusses the ways he and his team are "leveraging technology" in the era of COVID-19 and changing perceptions related to down-payment assistance.

About Author: Christina Hughes Babb

Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media/Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning news, among others.
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