Latest News Author: Rodney Ashton

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority and this bulletin will be updated as additional Agency guidance is received. This announcement has […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and we understand there may be concerns about its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority. As the Agencies provide additional guidance, this bulletin […]

Overview During the current telecommuting work arrangement Carrington Mortgage Services, LLC (CMS) is operating under, the Carrington Client Services Department will not be taking inbound phone calls and will request that Wholesale Brokers email all inquiries to ClientAdministration@CarringtonMS.com. The team will respond to email inquiries by phone and email as soon as possible. The phone […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority. As the Agencies provide additional Appraisal guidance, this bulletin will be updated and republished. FNMA […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and we understand there may be concerns about its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority. As the Agencies provide additional guidance, this bulletin […]

Non-QM Update Carrington Mortgage Services remains committed to the Non-QM market as one of the key leaders in the industry. Unfortunately, we have to temporarily discontinue offering Non-QM loans due to current secondary market conditions. We’re happy to say that any approved loans that are locked will be honored through the remaining locked term. Unfortunately, […]

Overview Due to current market conditions, effective March 20, 2020 and until further notice, Carrington Mortgage Services, LLC (CMS) will temporarily no longer permit a lock until the loan is Approved and the appraisal (where applicable) has been received by CMS.  Please see revised lock policy below. Loan Type Available Lock Terms Additional Requirements Non-QM […]

Overview Due to current market conditions, effective March 13, 2020 and until further notice, Carrington Mortgage Services, LLC (CMS) will temporarily suspend offering 30-day locks. CMS will still offer 15-day, 45-day, and 60-day lock terms in accordance with the revised guidelines for available lock terms outlined below. Loan Type Available Lock Terms Additional Requirements Non-QM […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, February 17, 2020 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 18, 2020. Rate Locks that expire on the holiday will automatically roll to the next business day. In addition there are […]

Overview In the state of North Carolina, borrowers may be charged bona fide discount points for the purpose of reducing their interest rate. For Owner Occupied Loans with a balance of $300,000 or less, up to 2.25% (Agency products) or 0.25% (Non-agency products) may be charged as Discount Points under the North Carolina Max Fee […]