Latest News Author: backerman

Please review important changes to the FHA Streamline program. Starting Monday, September 17th, 2012: An AVM is required on all FHA Streamline loans with FICO scores less than 640. The AVM will be ordered by a Carrington Junior Underwriter early in the process and included in loan file at time of underwriting. The LTV of […]

The Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to increase loan guarantee fees (g-fee) that are charged. As a result, Carrington Mortgage Services will implement a change to our pricing structure for all Conforming Conventional (including High Balance products) loans. Timing for implementation: Effective immediately, new 45 and 60 day […]

This bulletin highlights the increase of the guarantee fee (g-fee) increases mandated by the Federal Housing Finance Agency (FHFA). Effective immediately new 45 and 60 day locks will have the new increased fee built into the base pricing On September 16, the 30 day pricing will reflect the new fee increase On October 1, the […]

This bulletin highlights updates to the FHA Streamline Program and HomePath. The FHA Streamline program has been amended: AVM required on all loans with FICO scores less than 640 Effective on loans submitted on and after Monday September 17, 2012 AVM will be ordered by Junior Underwriter early in the process and included in loan […]

Attached is a bulletin regarding the updated Underwriting Matrix which is posted to the Intranet. Underwriting Matrix posted to the Intranet at: http://carringtonhome.corp.int/Corporate%20Document%20Library/Underwriting%20Conditions%20Matrix.pdf Updates to: Florida Illinois Indiana New York North Carolina Download: Bulletin - #W1274 (PDF)

Attached is a bulletin which outlines the policy regarding the use of a Power Attorney in the loan process.  The policy can be found on the Intranet Addresses the following types of Power of Attorney: Military Durable Power of Attorney General Power of Attorney Special Power of Attorney Requirements of a Power of Attorney vary […]

Attached is a bulletin announcing the addition of the following credit vendors: CIS, Consolidated Information Services Credit Plus Inc Equifax Mortgage Services Credentials for Associates (Operations) will be sent by the credit vendor by Monday, September 10, 2012. The addition of Kroll Factual Data is anticipated within the next two weeks. Download: Bulletin - #W1267 […]

Addition of Seasoned Mortgage Industry Executive to Drive Growth of Lending Business Carrington Mortgage Services (Carrington) today announced the addition of Lynn Halstead as vice president of wholesale operations to its Mortgage Lending Division senior management team. Lynn joins Carrington to drive its wholesale lending channel. "Lynn is exactly the kind of experienced, well-rounded executive […]

This bulletin outlines our requirements for properties affected by Hurricane Isaac. Download: Bulletin - #W1268 (PDF)

FEMA Disaster Declaration for New Mexico, California, Washington, Maryland, Wisconsin, District of Columbia and Virginia Download: Bulletin - #W1270 (PDF)