Veterans Day – Operations and Lock Desk Hours

The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Friday, November 11, 2016 in observance of Veteran’s Day, which is a Federal Holiday.  Normal Lock Desk hours will resume on Monday, November 14, 2016.

Locks that expire on the holiday will automatically roll to the next business day.  In addition, there are some important disclosure considerations associated with the holiday:

·         Friday, November 11, 2016 cannot be included in the rescission period for refinances

·         Friday, November 11, 2016 cannot be included in the seven (7) day business day waiting period between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan

·         When re-disclosure of the LE is required, Friday, November 11, 2016 cannot be included in the three (3) day business waiting period between the date the revised LE was provided to the borrower and the consummation of the loan

Issues related to locks should be sent via email to lockdesk@carringtonms.com.

Columbus Day Holiday – Operations and Lock Desk Hours

The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Monday, October 10, 2016 in observance of Columbus Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, October 11, 2016. Carrington Mortgage Services (CMS) offices will be open normal business hours on Monday, October 10th, 2016.

Locks that expire on the holiday will automatically roll to the next business day. In addition, there are some important disclosure considerations associated with the holiday:

  • Monday, October 10, 2016 cannot be included in the rescission period for refinances
  • Monday, October 10, 2016 cannot be included in the seven (7) day business day waiting period between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan
  • When re-disclosure of the LE is required, Monday, October 10, 2016 cannot be included in the three (3) day business waiting period between the date the revised LE was provided to the borrower and the consummation of the loan

    Issues related to locks should be sent via email to lockdesk@carringtonms.com.

92900-A FHA Loan App Revision

HUD recently revised the Addendum to Uniform Residential Loan Application (Form HUD 92900-A).  These revisions were made to provide further clarity to loan level certifications on the Addendum form.

Borrower Certification

On the new 92900-A, FHA borrowers must certify their occupancy at item #25-2.  Please make sure this is completed by the borrowers on the initial 92900-A.  This box must be completed for all loan types (refinance and purchase transactions) and not the VA box for occupancy when doing an FHA loan.

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Labor Day Holiday – Operations and Lock Desk Hours

Carrington Mortgage Services, LLC (CMS) is closed Monday, September 5, 2016 in observance of Labor Day, which is a Federal Holiday. The Lock Desk will be closing early on Friday, September 2, 2016 at 10:00 AM PST and will be closed on Monday, September 5, 2016. Normal Lock Desk hours will resume on Tuesday, September 6, 2016.

Locks that expire on the holiday will automatically roll to the next business day.In addition there are some important disclosure considerations associated with the holiday:

  • Monday, September 5, 2016 cannot be included in the rescission period for refinances
  • Monday, September 5, 2016 cannot be included in the seven (7) business day waiting period between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan
  • When re-disclosure of the LE is required, Monday, September 5, 2016 cannot be included in the three (3) business day waiting period between the date the revised LE was provided to the borrower and the consummation of the loan

Issues related to locks should be sent via email to lockdesk@carringtonms.com

Memorial Day Holiday – Operations and Lock Desk Hours

Although Carrington Mortgage Services, LLC (CMS) will be officially closed in observance of Memorial Day on Monday, May 30th; due to business needs there will be limited staffing in a good number of our departments.  Normal business hours will resume on Tuesday, May 31st.
The Lock Desk will stop taking requests on Friday May 27 after 10AM PST / 1PM EST and will be closed on Monday, May 30, 2016. Normal Lock Desk hours will resume on Tuesday, May 31, 2016.

Locks that expire on the holiday will automatically roll to the next business day.

In addition there are some important disclosure considerations associated with the holiday:

·         Monday, May 30, 2016 cannot be included in the rescission period for refinances

·         Monday, May 30, 2016 cannot be included in the seven (7) business day waiting period between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan

·         When re-disclosure of the LE is required, Monday, May 30, 2016 cannot be included in the three (3) business day waiting period between the date the revised LE was provided to the borrower and the consummation of the loan

Issues related to locks should be sent via email to lockdesk@carringtonms.com.

Presidents Day Holiday – Operations and Lock Desk Hours

The Lock Desk at Carrington Mortgage Services will be closed Monday, February 15, 2016 for Presidents Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, February 16, 2016.

Carrington Mortgage Services (CMS) offices will be open normal business hours.

Locks that expire on the holiday will automatically roll to the next business day.

In addition, there are some important disclosure considerations associated with the holiday:

  • Monday, February 15, 2016 cannot be included in the rescission period for refinance
  • Monday, February 15, 2016 cannot be included in the seven (7) business day waiting period between the date the initial TIL was provided to consummation
  • When re-disclosure of the TIL is required, Monday, February 16, 2016 cannot be included in the three (3) day business waiting period between the date the revised TIL was provided to the borrower and the consummation of the loan

Issues related to locks should be sent via email to lockdesk@carringtonms.com.

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