Latest News Author: backerman

Topic included in Bulletin W13-113: To minimize the number of phone calls to verify employment in a short period of time, the Verbal Verification of Employment Process has been updated The Account Manager will continue to complete the Verbal Verification of Employment (VVOE) and: If the Note date is >5 business days at the time […]

Topic included in Bulletin W13-112: Jumbo Preferred matrix has been updated Changes include: Co-Signed Loans (added category) Alimony/Child Support/Maintenance (added category) Minimum Payment (update) The Intranet and website have been updated Updates are effective immediately. Download: Bulletin - W13-112 (PDF)

Topic included in Bulletin W13-111: Virginia has updated a statue which streamlines the subordination process. Bulletin outlines the rules for the streamline process DocuTech is in the process of being updated, until this is completed please contact the Compliance Department for assistance Download: Bulletin - W13-111 (PDF)

Topic included in Bulletin W13-110: Reminder, Bill, H.R.933 – Consolidated and Further Continuing Appropriations Act 2013, which was signed by the President on March 26, 12013, extends the eligible rural areas that were in effect as of September 30, 2012 until September 30, 2013. Barring any Congressional actions, implementation of the 2013 Census Data is […]

Topic included in Bulletin W13-109: CMS adds the Freddie Mac Relief Refinance Open Access program to product offerings Highlights of the program include: 30,20 and 15 Year Fixed Rate Primary Residence, 1-4 Units, Conforming and Super Conforming loan limits, 135% LTV/CLTV with 660 credit score Primary Residence, 1-4 Units, Conforming and Super Conforming loan limits, […]

Topic included in Bulletin W13-107: Reminder, FHA has provided guidelines for borrowers returning to work after an Economic Event Effective with Case Numbers assigned on and after August 15, 2013 Definition of an Economic Event To align ourselves with FHA, CMS has updated the FHA Standard and High Balance Matrix and the FHA Lending Guide […]

Topic included in Bulletin W13-106: CMS is closed Monday, September 2, 2013 in observance of Labor Day, which is a Federal Holiday Due to the upcoming holiday the Lock Desk will be closing early on Friday, August 30, 2013 at 2:00 PM PST and will be closed on Monday, September 2, 2013 Normal Lock hours […]

On Monday, September 2, 2013, Carrington Mortgage Services will be closed in celebration of Labor Day. The Carrington lock desk will close on Friday, August 30, 2013, at 2 PM PST, be closed throughout the holiday weekend, and will resume normal hours again on Tuesday, September 3, 2013.

Bulletin W13-105 - Update, CMS Approved Credit Providers Topic included in Bulletin W13-105: Added Credit Information Providers: CBA Credit Information Systems Equidata, Inc NCO Credit One Source Credit Bureau Strategic Information Resources, Inc SARMA Credit Facts Services is no longer an approved credit provider All CMS approved credit providers are available for both Fannie Mae […]

Topic included in Bulletin W13-102: The following Policies and Procedures have been updated in July 2013: VAIRRRL AVM Ordering Process Appraisal Management Policy Hazard Insurance Policy Exception Request Policy Quality Control Suspense Policy MLD Travel & Expense Policy Bulletin notes each update for the Policy and or Procedure Updated Policies and Procedures published on the […]