Latest News Author: backerman

Company’s wide array of products and faster turn times attract brokers, agents and borrowers JUNE 26, 2013 – SANTA ANA, CA – The Wholesale Lending Division of Carrington Mortgage Services, LLC (Carrington) today announced that it has expanded its coverage in the Northeast, adding a branch office in Rhode Island. This latest addition reflects the […]

Topic included in Bulletin W13-066: CMS is closed Thursday, July 4, 2013 in observance of Independence Day, which is a Federal Holiday Lock Desk will be closing early on Wednesday, July 3, 2013 at noon PST and will be closed on Thursday, July 4, 2013 Normal Lock hours will resume on Friday, July 5, 2013 […]

Topic included in Bulletin W13-059: Jumbo Matrix has been updated, effective immediately Updates include: State specific LTV/CLTV reduction for properties located in Arizona, Florida and Nevada has been retired.  The 5% LTV/CLTV reduction remains when the appraisal indicates a declining market in Neighborhood Section Housing Trends or 1004MC Median Comparable Sales Price Maximum cash-out has […]

Topic included in Bulletin W13-065: New Product Policy has been published Policy will unify the company’s approach when considering new products Policy requires the preparation of a Project Charter, Business Plan and change Management Document Effective Immediately Download: Bulletin - W13-065 (PDF)

Topic included in Bulletin W13-064: Re-Launch of LPMI Product Offering Effective Immediately Available on Conventional 30 year Conforming and Conventional High Balance Fixed Rate loans LPMI available for loans with LTVs exceeding 80%, under the following circumstances: Single Family Residence, Primary Resident or Second Home Maximum Loan Amount of $625,500 Maximum LTV of 95% Minimum […]

Topic included in Bulletin W13-063: Exception Policy and Procedure has been published Policy covers exception requests to credit, collateral, guidelines and pricing Underwriting exceptions will be handled by the Underwriter of record Exception Request Form required Exception Request Form is posted on the Intranet at: http://carringtonhome.corp.int/mortgage/lending/Mortgage%20Lending%20Documents/Forms%20and%20Checklists/Retail%20Exception%20Request%20Form.xl Manager approval is required Exception Request Form is sent […]

Topic included in Bulletin W13-062: To streamline the review of appraisal conditions a new mailbox has been created; MLDConditons@carringtonps.com When all conditions have been met and completed, the documents that satisfy the conditions will be sent to MLDConditons@carringtonps.com The “Subject line” of the email must include Loan Number, Borrower Name and Conditions All other appraisal […]

Topic included in Bulletin W13-060: Conventional Conforming DU Matrix has been updated. Updates include: A separate grid within the matrix has been added to clarify requirements on loans with LTVs > 95% Updated grid with Minimum Cash Investment for loans with LTVs>95% Updated grid to reflect 2-4 Units >80% require 5% of the Borrowers own […]

Topic included in Bulletin W13-058: Clarification provided regarding the selection of the correct property type for Manufactured Home Program in Pipeline Manager and Data Trac Download: Bulletin - W13-058 (PDF)

Topic included in Bulletin W13-057: Reminder, tax transcripts are required for all qualifying borrowers Loans that are closing on or after June 15, 2013 (Note date) tax transcripts are required Borrowers that have filed an extension the following is needed: Copy of cancelled check evidencing tax payments made to the IRS, and 2012 Tax Transcript […]