Five Low-to-Moderate-Income Lenders Receive Kani Award

CBC Mortgage Agency recognizes correspondent lenders
for their achievements in LMI communities

SOUTH JORDAN, Utah, Oct. 23, 2023 /PRNewswire/ -- CBC Mortgage Agency (CBCMA), a Native American wholly owned and federally chartered housing finance agency, today announced the recipients of its first-ever Kani Award, which recognizes the company's correspondent lending partners for their work in advancing homeownership by providing mortgages to low-to-moderate income (LMI) minority and first-time homebuyers.

Winners of the Kani Award were selected based on their share of mortgages sold to LMI borrowers during the previous calendar year (in this case 2022).

The 2023 Kani Award recipients are:

• Cardinal Financial Company
• Everett Financial
• Fairway Independent Mortgage Corporation
• Nova Home Loans
• Paramount Residential Mortgage Group, Inc.

"At a time when affordability, soaring interest rates, and dwindling inventory are huge hurdles to homeownership, we are thrilled to honor the dedicated partners who navigate these challenges with unwavering commitment," said Miki Adams, president of CBCMA. "Despite a difficult housing market, their incredible efforts are turning dreams of homeownership into reality, one resilient borrower at a time."

"Kani," (K-AH-N-EE) the traditional Paiute word for home, embodies the spirit of the Kani Award. The meaning behind the Kani Award echoes CBCMA's tribal roots and the company's longstanding commitment to promoting inclusive homeownership since its inception 10 years ago.

"The dream of homeownership becomes a reality for many borrowers with the partnership between Chenoa and NOVA Home Loans," Ryan Vondrak, CEO NOVA Home Loans, stated.

The Kani Award is intended to spotlight lenders that share CBCMA's passion for creating positive change in LMI communities and supporting economic stability for homebuying families by offering innovative programs that combat barriers to homeownership. 

"Supreme Lending is proud to partner with CBC Mortgage Agency and we're truly honored to earn the inaugural Kani Award distinction," said Supreme Lending SVP of National Sales Candice McNaught. "At Supreme, we're committed to delivering homeownership for all, especially lower income families, first-time buyers, and underserved communities. We're grateful to offer financing options through programs like the Chenoa Fund that help put people into homes and enrich lives." 

To be eligible for the Kani Award, lenders must be active correspondents with at least $20 million in loan volume during the past year and currently use Chenoa Fund programs. CBC Mortgage Agency operates the Chenoa Fund down payment assistance (DPA) program that enable first-time and existing homebuyers to access assistance for up to 5% of their home price.

"Each of this year's Kani Award winners has shown exceptional commitment and dedication to providing equitable opportunities for underrepresented communities to achieve homeownership," Adams said.  

About CBC Mortgage Agency 

Founded in 2013, CBC Mortgage Agency is a nationally chartered housing finance agency. As a leading source of down payment assistance, the company helps low-to-moderate income consumers, often in minority neighborhoods, achieve the dream of homeownership. CBC Mortgage Agency, recognized as one of the Top 25 Companies in Mortgage & Servicing by MReport, is a wholly owned subsidiary of Cedar Band Corp., a federally chartered tribal corporation founded by the Cedar Band of Paiute Indians. Visit chenoafund.org for more information.

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SOURCE CBC Mortgage Agency