25 bps to 100 bps Pricing Improvement
Effective immediately, Carrington Mortgage Services, LLC – Wholesale Lending Division has improved pricing on our Flexible Advantage programs (non-prime/near prime) :
- Full Doc Loans
- 12 Month Bank Statement Advantage
- 24 Month Bank Statement Advantage
- Max Loan Amount increased to $2 Million
- Maximum Cash out Increased to $750,000
Contact your Account Executive for more information, and make sure to check out our rates.
Become an Approved Carrington Broker Today! Apply now.
The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed on Wednesday, July 4, 2018, for Independence Day, which is a Federal Holiday. In addition, the lock desk will close early (10:00 AM PST) on Tuesday, July 3, 2018. Normal lock hours will resume on Thursday, July 5, 2018.
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:
- Wednesday, July 4, 2018, cannot be included in the rescission period for refinance transactions.
- Wednesday, July 4, 2018, 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, Wednesday, July 4, 2018, cannot be included in the four (4) business day 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, Wednesday, July 4, 2018, cannot 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 email@example.com.
Coming to Sacramento July 12th!
Elevate your performance as a Loan Originator in the Sacramento area with the information and tools provided by attending this free event. Gain new insights into your local market and national trends. Get ahead of your competition by leveraging this information to elevate your performance and better serve customers in your area.
You Can’t Afford to Miss This Event
Exclusive for Loan Originators and Mortgage Brokers hosted by Carrington Mortgage Services, LLC a leader in the serving the underserved market and known for being the Go-to-Lender for Tough Loans.
- 8 am – 9 am Complimentary Breakfast and Networking Opportunity
- 9 am – 9:45 am Local and National Real Estate and Housing Market Update
Find out what’s happening in the US economy and the housing market with a mid-year market update, and forecast for 2018 and beyond by Carrington Executive Vice President Rick Sharga, a frequent contributor to national media outlets such as CNBC, FOX Business, the Wall St. Journal, and Housing Wire.
- Elevate Your Performance with Carrington
An introduction to Carrington’s new Non-QM home loan programs that can elevate your performance and assist you in closing more loans for borrowers with less than perfect credit, late payments, recent blemishes on their credit, high balance/jumbo or self-employed borrowers.
Congratulations to the team at Carrington Mortgage Services for being recognized as one of the top mortgage employers by NMP Magazine.
Last Week in Review:
Home prices continue to rise while geopolitical and trade war uncertainty eased.
Research firm CoreLogic reported that home prices, including distressed sales, rose 6.9 percent from April 2017 to April 2018, while there was a 1.2 percent gain from March to April of this year. Looking ahead, CoreLogic forecasts a 5.3 percent increase in home prices from April 2018 to April 2019.
CoreLogic Chief Economist Frank Nothaft noted that “new construction has failed to keep up with and meet new housing growth or replace existing inventory.
Also of note, there was good news from the labor sector, as weekly Initial Jobless Claims continue to hover near lows seen in the early 1970’s.
Headlines from across the globe had an impact on the markets in recent days. However, the smoothing of the political turmoil in the Eurozone and easing trade issue woes lifted some of the uncertainty that had driven investors into the safer haven of the Bond market. Mortgage Bonds have been edging lower as a result. Investors may also be awaiting the upcoming Fed meeting June 12-13, as it has the potential to move the markets.Also of note, there was good news from the labor sector, as weekly Initial Jobless Claims continue to hover near lows seen in the early 1970’s.
At this time, home loan rates remain historically attractive.
Carrington Mortgage Services, LLC (CMS) is pleased to announce that effective Tuesday, June 5, 2018, Brokers may submit loans using Lender Paid Compensation for the Near-Prime and Non-Prime products.
Refer to the CMS Rate Sheets for the latest pricing.
Please note: For all transactions where the Broker selects the Lender Paid Compensation option, the submission is required to include a valid Anti-Steering Disclosure.