Updated Broker Licensing for Investor Loans

Overview

As previously announced, effective July 5, 2022, Carrington Mortgage Services, LLC (CMS) began accepting loan submissions for the Investor Advantage program where Brokers are exempt from state licensing. Brokers must still be approved with Carrington and in good standing.  The broker company/branch and broker loan officer must have an NMLS number, but the broker and loan officer do not require a state license in the following states for originating Investor Advantage loans. Additional states are shown in red font below:

Resources

Refer to the CMS Investor Advantage Program Underwriting Guidelines for additional information regarding DSCR loan requirements.