The National Association of Mortgage Brokers (NAMB) has formed a partnership with the Chenoa Fund, a down payment assistance program, to help mortgage brokers better serve first-time and underserved homebuyers who struggle with upfront homebuying costs, the organizations announced on Wednesday.
Through the collaboration, NAMB members will gain enhanced access to Chenoa Fund programs, tools and training aimed at expanding affordable homeownership opportunities across the country. NAMB, founded in 1973, is a national volunteer-led trade group representing mortgage brokers and homebuyers.
The Chenoa Fund program is administered by CBC Mortgage Agency (CBCMA) and provides down payment assistance (DPA) in the form of repayable and forgivable second mortgages for qualified borrowers.
“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. That’s why we see this as a long-term partnership between CBCMA and NAMB,” Miki Adams, president of CBC Mortgage Agency, said in a statement.
“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 includes joint educational initiatives and webinars so brokers can understand program guidelines, eligibility and operational best practices for DPA. Training will focus on how to structure loans with down payment assistance, compliance considerations, and how to reach borrowers who are creditworthy but lack sufficient funds for a down payment and closing costs.
“NAMB is proud to partner with the Chenoa Fund to expand access to affordable homeownership opportunities,” NAMB President Kimber White said. “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.”
The collaboration underscores both organizations’ stated focus on housing accessibility and financial inclusion. For brokers, the relationship may streamline how they learn about and deploy DPA in purchase transactions, which can be a competitive differentiator in low-inventory, high-cost markets.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.