CBC Mortgage Agency

What CBC Mortgage Agency does

CBC Mortgage Agency is a tribally owned, private mortgage finance company headquartered in South Jordan, Utah, and one of nine enterprises under the Cedar Band Corporation (wholly owned by the Cedar Band of Paiutes, a federally recognized tribe). The company provides down payment assistance (DPA) for FHA-insured home purchases through its flagship Chenoa Fund program, which funds either 3.5% or 5% of the required down payment as a second mortgage with both forgivable and repayable structures. The program is differentiated by minimum credit score thresholds (600), the absence of income limits, no first-time homebuyer requirement, and nationwide availability across 49 US states under standardized guidelines (excluding New York). The company has helped over 60,000 homebuyers achieve homeownership since inception.

The product surface extends beyond the core FHA DPA into a USDA rural financing sub-product, a Borrower Success Program delivered through a HUD-approved housing counseling agency, and a set of lender-facing tools including an Excel-based AMI calculator and a loan delivery checklist. Operational technology is largely conventional: a correspondent lender portal at client.chenoafund.org handles partner access and exception requests, while underwriting follows industry-standard credit score selection rules (middle of three, lower of two). No AI/ML, proprietary models, or disclosed data flywheels are referenced in the source material; the stack is rules-based rather than data-driven.

The business model is transaction-based: revenue is generated per originated DPA loan through channel partners (approved correspondent lenders, mortgage brokers accessed via a National Association of Mortgage Brokers partnership, and real estate agent referrals). As a tribal enterprise without external institutional investors or venture capital, the company reinvests earnings into the Cedar Band of Paiutes government and social programs. Pricing is not publicly disclosed and is quote-based through approved lender partners, and specific revenue figures are not released.

Name

CBC Mortgage Agency

Legal name

CBC Mortgage Agency

Website

https://cbcmortgageagency.org

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

CBC Mortgage Agency provides down payment assistance for FHA and USDA home loans through the Chenoa Fund program, serving first-time and underserved homebuyers via a correspondent lender and mortgage broker network across 49 US states.

Ownership category

akta.pro rank

Product category

Down Payment Assistance / Mortgage Lending

NAICS

Real Estate Credit (522292), Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Down Payment Assistance (DPA) Credit Enhancement & Subsidy Programs (FSALAJAI)

akta.pro secondary industries

Down Payment Assistance (DPA) & Homebuyer Subsidy Programs (FSALAKAE), Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI)

Keywords

• Down payment assistance
• FHA loan programs
• Homebuyer financing
• Mortgage lending
• Second mortgage products

Headquarters

HQ city

Utah

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Down Payment Assistance Financing: CBC Mortgage Agency provides down payment assistance through second mortgage products - both forgivable and repayable options. Revenue is generated through the financing of down payment assistance loans to qualifying homebuyers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

CBC Mortgage Agency provides down payment assistance financing for FHA-insured home loans through its Chenoa Fund program, offering 3.5% or 5% of the required down payment as either a forgivable or repayable second mortgage. The program is distributed nationwide (except New York) through approved correspondent lenders, mortgage brokers, and real estate agents, with a minimum 600 credit score requirement and no income limits or first-time homebuyer restriction.

Product overview

CBC Mortgage Agency operates as a single-product company centered on the Chenoa Fund, a nationwide down payment assistance program that provides either 3.5% or 5% of the down payment needed for FHA-financed home purchases. The program offers multiple second mortgage structures (forgivable and repayable options) and is supplemented by a USDA rural financing program, a Borrower Success education program, lender tools including an AMI calculator and loan delivery checklist, and a correspondent lender portal for program access and management.

Differentiator

Problem solved

Functional benefit

Brands

• Chenoa Fund: A down payment assistance program administered by CBC Mortgage Agency that offers either 3.5% or 5% of the down payment needed to purchase a home with an FHA loan. The program includes forgivable and repayable second mortgage options and is available in all states except New York.

Products and services

• Chenoa Fund Down Payment Assistance Program A down payment assistance program offering either 3.5% or 5% of the down payment needed to purchase a home with an FHA loan, provided as a second mortgage with forgivable or repayable options. Features include no income limits, no first-time homebuyer requirement, minimum credit score of 600, and availability in all states except New York.
• Chenoa Fund USDA Program A financing program for rural property purchases available through the Chenoa Fund, helping homebuyers in USDA-eligible rural areas achieve homeownership.
• Borrower Success Program A homebuyer education and support program offered through a HUD-approved housing counseling agency, required for borrowers below a certain credit score threshold to ensure successful homeownership outcomes with the Chenoa Fund.

Quantifiable outcome

• Over 60,000 homebuyers helped achieve homeownership

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• National Association of Mortgage Brokers (NAMB)coreGTM or Marketing Partner · 22 April 2026Strategic partnership to help mortgage brokers better serve first-time and underserved homebuyers through enhanced access to down payment assistance programs. The collaboration includes joint educational initiatives, webinars on program guidelines and eligibility, tools, and training. The partnership aims to expand affordable homeownership opportunities and serve as a competitive differentiator for brokers in low-inventory, high-cost markets.

Scale indicators3 records

Expansion highlights5 records

Broad incumbents

• Guild Mortgage: National retail mortgage lender offering government-insured loans and proprietary down payment assistance programs, including programs targeting first-time and underserved buyers. Comparable as a broad incumbent with overlapping DPA offerings, though it is a far larger, full-service originator.
• Fannie Mae HomeReady: GSE-sponsored low-down-payment program with lender-funded flexibilities and community-based DPA options for income-eligible borrowers. Comparable as a large-scale, federally aligned low-down-payment mortgage product competing for the same first-time buyer segment.
• United Wholesale Mortgage (UWM): Largest U.S. wholesale mortgage lender, dominant in the broker channel that Chenoa Fund relies on. Comparable as a broad incumbent controlling the distribution layer that CBC Mortgage Agency depends on for borrower flow.
• Rocket Mortgage: Largest U.S. retail mortgage lender with extensive FHA origination and its own DPA/grant programs. Comparable only at the broad-incumbent level given Rocket's scale, but overlaps directly in FHA lending for first-time and underserved buyers.
• Freddie Mac Home Possible: GSE low-down-payment mortgage program paired with secondary financing and DPA sources for first-time and low-to-moderate-income buyers. Comparable as a nationally scaled, federally aligned low-down-payment competitor to Chenoa Fund's borrower base.

Others

• NeighborWorks America: National network of HUD-approved housing counseling and affordable homeownership providers, including DPA administration and homebuyer education. Comparable as an ecosystem participant addressing the same first-time, underserved-buyer affordability and education needs Chenoa Fund targets.

Direct peers

• Texas Department of Housing and Community Affairs (TDHCA): State housing agency administering statewide down payment assistance programs alongside FHA, VA, and USDA loan products through a partner lender network. Directly comparable as a public-purpose DPA administrator using a correspondent-style lender channel model.
• Carrington Mortgage Services: Large non-QM and government loan originator with dedicated down payment assistance products and forgivable-second programs for first-time and underserved buyers. Closely comparable in DPA product structure, FHA focus, and partnership-led distribution.
• CalHFA (California Housing Finance Agency): State housing finance agency offering government-insured and conventional first mortgages along with multiple down payment assistance programs. Highly comparable as a DPA + FHA-adjacent lender serving first-time and underserved California buyers, the same borrower persona Chenoa Fund targets.
• Florida Housing Finance Corporation: State HFA that provides down payment assistance and first mortgages primarily for first-time and low-income homebuyers, often paired with FHA, VA, and USDA financing. Comparable to CBC Mortgage Agency in its DPA-led mission, FHA-loan pairing, and partner-lender distribution.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/Chenoa_Fund
• YouTubeyoutube.com/channel/UCjSqN9lHVbBrdn7u9tpPTDA
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/cbc-mortgage-agency
• Instagraminstagram.com/chenoafundofficial
• TikToktiktok.com/@chenoafund

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CBC Mortgage Agency