CMS Lock Desk Holiday Hours and Key Compliance Dates

Overview

During the 2022 holiday season Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will observe the following schedule:

• Monday, December 26, 2022 – closed for the Christmas holiday
• Monday, January 2, 2023 – closed for New Year’s Day holiday

Normal Lock Desk hours will resume December 27, 2022 and January 3, 2023.

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

• Monday, December 26, 2022 and Monday January 2, 2023 are considered business days for purposes of rescission; therefore, they may be included in the rescission period for refinances. Encompass and Empower are calculating the rescission and disbursement dates correctly.
• Monday, December 26, 2022 and Monday January 2, 2023 may 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, Monday, December 26, 2022 and Monday January 2, 2023 may 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.
• When re-disclosure of the CD is required, Monday, December 26, 2022 and Monday January 2, 2023 may be included in the three (3) business day waiting period between the date the revised CD was provided to the borrower and the consummation of the loan.

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

Contacts

Please contact your Account Executive or Account Manager with any questions.

Carrington thanks you for your business.