Thanksgiving Day – Operations and Lock Desk Hours

The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Thursday, November 24, 2016 and Friday, November 25, 2016 in observance of Thanksgiving, which is a federal holiday. Due to the holiday, the Lock Desk will be closing early on Wednesday, November 23, 2016 at 2:00 PM PST. Normal Lock Desk hours will resume on Monday, November 28, 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:

  • Thursday, November 24, 2016 cannot be included in the rescission period for refinance transactions.
  • Thursday, November 24, 2016 cannot be included in the seven (7) business day waiting period between the 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, Thursday, November 24, 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.

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.

Easter Weekend Holiday Hours

For the upcoming holiday weekend:

  • Thursday, March 24th, 2016 – Lock Desk hours will be 7:30 AM to 12:00 PM PST.
  • Friday, March 25th, 2016 – In observance of Good Friday, the Lock Desk will be closed.
  • Monday, March 28th, 2016 – Normal Lock Desk hours will resume.

    As a reminder, pursuant to the Lock Policy, all lock extensions must be requested prior to expiration. If a lock expires on Friday, March 25th, 2016, it will need to be extended no later than Thursday, March 24th, 2016.

    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.

MLK Holiday – Operations and Lock Desk Hours

The Lock Desk at Carrington Mortgage Services will be closed Monday, January 18, 2016 in observance of Martin Luther King Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, January 19, 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, January 18, 2016 cannot be included in the rescission period for refinance
  • Monday, January 18, 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, January 18, 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.

December-January Holiday Hours

Carrington Mortgage Services will be closed:

  • Thursday, December 24 and Friday, December 25, 2015 for the Christmas holiday
  • Friday, January 1, 2016 for New Year’s Day.

December 25, 2015 and January 1, 2016 are Federal holidays.

The Lock Desk will be closing at 11:00 AM PST on Thursday, December 31, 2015. Normal lock hours will resume on Monday, January 4, 2016.

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

There are important disclosure considerations associated with the holidays:

  • Friday, December 25, 2016 and Friday January 1, 2016 cannot be included in the rescission period for refinances.
  • Friday, December 25, 2015 and Friday, January 1, 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, December 25, 2015 and January 1, 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
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