Latest News Author: backerman

Topic included in Bulletin W13-018: Oklahoma has been added as an approved state for the Wholesale channel Effective Friday, March 1, 2013 The following systems are ready: Data Trac Pipeline Manager DocuTech Comergence Optimal Blue Oklahoma state guide can be found on the Intranet at Mortgage Services/Mortgage Lending/Policies and Procedures/State Guides Download: Bulletin - W13-018 […]

Topic included in Bulletin W13-017: Reminder, Account Executives need to have a current license in Florida and Kentucky when loans are submitted to CMS in these states Download: Bulletin - W13-017 (PDF)

Topic included in Bulletin W13-016: Pricing Engine has been updated with the guidelines for FHA, VA and DU Refi Plus Manual Locks and Price Quotes no longer necessary Download: Bulletin - W13-016 (PDF)

Topic included in Bulletin W13-015: CMS has made changes to the FHA and VA guidelines Changes are effective immediately The pricing engine will be updated with these changes by Monday, February 25, 2013 Loans being locked under the new guidelines will temporarily be manual locks Email the CMS Lock Desk for quotes and lock requests […]

Carrington Mortgage Services has expanded  guidelines on specific loan programs to help you increase your business and serve more customers. Pipeline Manager will be updated on Monday, February 26th.   To take advantage of these changes and lock under the new guidelines – contact our lock desk. FHA Loan Programs, Conventional and High Balance Loan Amounts […]

Topic included in Bulletin W13-014: DU Refi Plus Matrix has been updated Updates effective immediately Updates include: Primary Residence, 1-2 units, Conforming and High Balance loan limits, 135% LTV/CLTV with 660 credit score Primary Residence, 1-2 units, Conforming and High balance loan limits, 105% LTV/CLTV with 620 credit score 50% DTI regardless of DU findings […]

Topic included in Bulletin W13-013: Property inspections are no longer required on FHA Streamline loans On Conventional and Government loans with appraisals, if the appraisal was completed prior to Hurricane Sandy and is less than 120 days at Note date, an inspection will be required. If the appraisal is greater than 120 days, a new […]

Bulletin W13-012 - Guideline Updates Topic included in Bulletin W13-012: Monday, February 18, 2013 is Presidents Day and is a Federal holiday A staff of volunteers will be working on Monday, however, the Lock Desk will be closed Normal Lock Desk hours will resume on Tuesday, February 19, 2013 Important disclosure date considerations An announcement […]

Topic included in Bulletin W13-011: Updates to the CMS Underwriting Guidelines Effective immediately Guidelines updated and posted to the Intranet Guideline topics that are updated: Clarification to 4506T (Tax Transcripts) Requirements Age of Appraisal Maximum number of properties financed with CMS Non-Permitted Addition, Improvement or Conversion Property Flipping Download: Bulletin - W13-011 (PDF)

Topic included in Bulletin W13-006: Intranet Update Compiled Approved New York Attorney list Closing Attorney Risk Management Policy is in the process of being created Approved New York Attorney List can be found on the Intranet at; Mortgage Services/Mortgage Lending/MLD Approved Vendors/Preferred Closing/Settlement Agents Download: Bulletin - W13-006 (PDF)