Latest News Author: Rodney Ashton

Overview Due to damage from the severe winter storms in Texas, FEMA has declared the following counties a disaster. Incident Period: February 11, 2021 and continuing State FEMA Disaster Declaration Counties Texas February 19, 2021 Angelina, Aransas, Bastrop, Bee, Bell, Bexar, Blanco, Brazoria, Brazos, Brown, Burleson, Caldwell, Calhoun, Cameron, Chambers, Collin, Comal, Comanche, Cooke, Coryell, […]

The Redesigned URLA is Here At the first of the year, Fannie Mae and Freddie Mac rolled out the redesigned Uniform Residential Loan Application (URLA), along with new automated underwriting system (AUS) specifications for DU and LPA. Get the full rundown on the form updates, which aim to: Help lenders more easily capture relevant loan […]

The Redesigned URLA is Here At the first of the year, Fannie Mae and Freddie Mac rolled out the redesigned Uniform Residential Loan Application (URLA), along with new automated underwriting system (AUS) specifications for DU and LPA. Get the full rundown on the form updates, which aim to: Help lenders more easily capture relevant loan […]

Fall in LOVE with Full-Doc Pricing! If you’ve been trying to close customers who need a Full-Doc government loan, you're going to love this... Effective TODAY, we’ve made significant price improvements for VA and FHA full doc programs. Give us a call, we’d love to talk it over or login to see our rate sheet. […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, February 15, 2021 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 16, 2021. Rate Locks that expire on the holiday will automatically roll to the next business day.  In addition there are […]

Overview On January 20, 2021, HUD announced major changes to their guidelines for borrowers with Deferred Action for Childhood Arrivals (DACA) status. Individuals classified under DACA who are legally permitted to work in the U.S. are eligible to apply for mortgages backed by the FHA. These changes are effective immediately and apply to new loan […]

Overview Effective for all loan submissions on and after February 1, 2021, Carrington Mortgage Services, LLC (CMS) will implement the following underwriting fee schedule. The new CMS Underwriting Fees are below: Loan Product Underwriting Carrington Prime Advantage $750 Carrington Flexible Advantage (CFA/CFA+) $750 Carrington Investor Advantage $750 Conventional $699 FHA $699 VA $699 USDA $699 […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Monday, January 18, 2021 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 19, 2021. Rate Locks that expire on the holiday will automatically roll to the next business day.  In addition […]

Overview Effective February 1, 2021, Carrington Mortgage Services, LLC (CMS) will discontinue offering FHA 203k (Standard and Limited) loans through our Wholesale Channel.  Brokers must submit all 203k loans prior to the February 1, 2021.  All approved 203k loans in the active pipeline will be honored and can close as expected. Contacts Please contact your […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Thursday, December 17, 2020; CMS will implement the following Carrington Advantage (Prime Advantage, Flexible Advantage Plus, Flexible Advantage, and Investor Advantage) product underwriting updates (highlighted in blue).  Please note this is an abbreviated summary of the guideline changes. For additional information, please review the […]