Latest News Author: Jordan Reed

Last Week in Review: Fed Raises Rates, Home Loan Rates Decline This past week, home loan rates hovered near the lowest levels in over a month as the Federal Reserve raised rates once again. Let's walk through the Fed Meeting and the other big events impacting the markets. Fed Funds Rate Hike "Some additional policy […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following Non-QM program underwriting updates (highlighted in red). Please note this is an abbreviated summary of the guideline changes and all updates should be viewed within the context of the full guidelines.  The pricing engine and loan origination system will be ready with these […]

Last Week in Review: SVB Bank Fallout and Rates This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let's walk through what happened as we approach the Fed Meeting this week. SVB Failure And Rates It's important […]

Overview Due to a severe winter storm and snowstorm in New York, FEMA has declared the following counties a disaster. Incident Period: December 23, 2022 - December 28, 2022 State FEMA Disaster Declaration Counties New York 3/15/2023 Erie and Niagara Re-Inspection by Product Type If your loan is … A re-inspection is required … Under […]

Last Week in Review: Powell Visits Capitol Hill This past week, Fed Chair Powell testified on Capitol Hill and his words sent rates higher. Let's walk through what happened and take a peek at what to watch next week. "Rates Need to Go Higher, Faster" Last Tuesday and Wednesday, Fed Chair Jerome Powell testified before […]

Last Week in Review: Inflation and The Fed Dominate Markets This past week, home loan rates touched their highest levels since November. Let's walk through what happened and mention the big events in the week ahead. Global Inflation Remains High Back in early February Fed Chair Jerome Powell stated that the disinflation process has begun […]

This Week in Review: Three Things That Happened Last Week Last week, rates touched the highest levels since Fall. Let's walk through three things that happened and what to watch in the week ahead. 1.) Fed Meeting Minutes Released Last Wednesday, the Minutes from the February 1st Fed Meeting were released. At that meeting, the […]

Overview Due to severe winter storms, flooding, landslide and mudslides in California, FEMA has declared the following counties a disaster. Updated counties are listed in bold font. Incident Period: December 27, 2022 - January 31, 2023 State FEMA Disaster Declaration Counties California 1/14/2023 Alameda, Amador, Calaveras, Contra Costa, Mendocino, Merced, Monterey, Sacramento, San Joaquin, San […]

Overview Due to severe weather in Georgia, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: January 12, 2023 State FEMA Disaster Declaration Counties Georgia 1/16/23 Butts, Henry, Jasper, Meriwether, Newton, Pike, Spalding and Troup Re-Inspection by Product Type If your loan is … A re-inspection is required […]

Last Week in Review: Fed Chair is Back After Strong Jobs Report After last week's surprisingly strong Jobs Report, Fed Chair Jerome Powell spoke about the economy and direction of rates. Let's walk through what happened and what to watch in the week ahead. "The strong Jobs Report shows you why we think this will […]