CDMP Highlight Sheet

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					                                             June 2010
                                         For HMC use only

                           CDMP & NCDMP
                Community Development Mortgage Program
          Neighborhood Community Development Mortgage Program

Sales Tip of the Week
The CDMP and NCDMP programs are a joint effort between WFHM and Wells Fargo Bank to
meet the needs of low- to moderate-income (LMI) borrowers and borrowers purchasing in LMI
census tracts. There are no mortgage insurance premiums and no funding fees, which can result
in a better monthly payment than an FHA loan.

         Offers many of the features and advantages that make homeownership more realistic
         Supports the requirements outlined in the Community Reinvestment Act (CRA) of 1977
              Requires financial institutions to meet the needs of their LMI community members
         CDMP uses HUD income limits
         NCDMP has no income limit and uses the Geo Census tracts

This affordable mortgage program is ONLY available in the following states.

    1.    Arizona: All counties
    2.    Arkansas: Select counties
    3.    Colorado: All counties
    4.    Georgia: All counties
    5.    Idaho: All counties
    6.    Illinois: Select counties
    7.    Indiana: Select counties
    8.    Iowa: All counties
    9.    Michigan: Select counties
    10.   Minnesota: All counties
    11.   Montana: All counties
    12.   Nebraska: All counties
    13.   Nevada: All counties
    14.   New Jersey: All counties
    15.   New Mexico: All counties
    16.   New York: All counties
    17.   North Carolina: All counties
    18.   North Dakota: All counties
    19.   Ohio: Select counties
    20.   Oregon: All counties
    21.   Pennsylvania: All counties
    22.   South Carolina: All counties
    23.   South Dakota: All counties
    24.   Texas: All counties
    25.   Utah: All counties
    26.   Virginia: All counties
    27.   Washington: All counties


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   28. Washington, D.C.: All included
   29. Wisconsin: All counties
   30. Wyoming: All counties

Target Borrower

CDMP borrowers must meet the low- to moderate-income guidelines set by HUD. In
some states, the income may be adjusted by family size. NCDMP has no income limit
and uses the Geo Census tracts

Program Features
The program offers many features to make home ownership a reality for LMI community
members.
        Qualifying guidelines include expanded debt ratios of 42%
        Loan purpose is owner-occupied purchase properties
        30-year fixed-rate terms
        Low down payments
        Higher loan-to-value ratios up to 98%
        Homebuyer education programs
        No mortgage insurance is required
        CDMP only: Borrower eligibility up to 80% of the median family income for the county
        NCDMP only: No income limits
        NCDMP only: Purchased home must be in low or moderate census tract

Benefits to Buyers

      Non-traditional credit profiles for borrowers with limited credit usage
      Maximum Loan to Value (LTV) in stable markets is 98 percent
      No cash reserve requirements for CDMP
      Comprehensive homebuyer education programs that include home ownership and
       budget management
      Income limits are waived in low-to-moderate income census tracts under the NCDMP
      Lower minimum loan amounts
      Flexibility on the source of closing costs (such as gifts) and approved Down Payment
       Assistance Programs (DAPs)
      Thirty-year fixed interest rate products for purchase only transactions
      Increased purchasing power
      Down Payment Assistance Programs (DAPs) are allowed
           o No seller-funded DAPs allowed
      Increased confidence in the ability to own and maintain a home by understanding the
       homebuyer process
      No mortgage insurance requirement

Benefits to Realtors
Homeownership can become an exciting possibility for your low- to moderate-income buyers.

Training Tools
Ncyclopedia: http://ncyclopedia.wfhm.homestead.wellsfargo.com/ncyclo/prod/CDMP.pdf




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CDMP and NCDMP Prerequisite Training for Certification Online:
http://ekod.wellsfargo.com/cdmpprerequisite

Prerequisite Training for Certification (printable version) - with notes

Marketing Tools
Coming to www.hslmarketing.com on June 3, 2010.




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