Policy Announcement: Itemized Written List of Providers Requirement Suspended

August 22, 2017rashtonBulletins, Bulletins

Overview

Effective August 15, 2015, the Carrington Mortgage Services, LLC (CMS) Wholesale Loan Setup requirement to obtain a Written List of Providers (Settlement Service Provider List) with Itemized Fees matching the amounts disclosed on the Broker’s Loan Estimate was temporarily suspended.

The temporary suspension means the Written List of Providers will NOT be required to have Itemized Fees matching the Loan Estimate on Broker disclosed submissions. Wholesale Loan Setup will not be required to match the Broker Loan Estimate to the Written List of Providers until further notice. Submissions will continue to be rejected if the Broker Disclosed Loan did not provide a Written List of Providers within three (3) business days of the Application Date.

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