Latest News Author: Rodney Ashton

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, January 20, 2020 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 21, 2020. Rate Locks that expire on the holiday will automatically roll to the next business day.  In […]

Overview During the holiday season the Carrington Mortgage Services, LLC (CMS) Lock Desk, will observe the following schedule: Tuesday, December 24, 2019 – Close early for Christmas Eve at 11:00 AM PST (early market closure of 2:00 PM EST) Wednesday, December 25, 2019 – Closed for the Christmas holiday Tuesday, December 31, 2019 – Close […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Thursday, December 5, 2019, CMS will introduce the new Carrington Prime Advantage program with Fixed, ARM and Interest-only ARM options. Carrington Prime Advantage allows alternative income documentation along with competitive pricing and loan amounts up to $2,500,000 and is designed for higher-credit-quality, non-agency borrowers […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk, will be closed Thursday, November 28, 2019 in observance of Thanksgiving, which is a federal holiday.  Due to the holiday, the Lock Desk will be closing early on Friday, November 29, 2019 at 11:00 AM PST (early market closure of 2:00 PM EST).  Normal Lock Desk […]

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Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the Lock Desk has re-enabled the Auto-lock functionality. Effective immediately on Wholesale files, all rate lock extensions no longer require a written email request to be sent to the Lock Desk.  Broker Loan Officers now have the ability to submit Lock Extension requests directly in […]

Overview Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Monday, November 11, 2019 in observance of Veteran’s Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, November 12, 2019. Locks that expire on the holiday will automatically roll to the next business day.  In addition, there […]

In an effort to make disclosing loans easier and faster, Carrington Mortgage Services, LLC will begin providing State Specific Disclosures as part of the lender disclosure package for all loans disclosed on or after November 1, 2019. Disclosure packages will be available in brokerIQ where you can download the disclosures to meet signature requirements. It […]

The Carrington Mortgage Services, LLC - Wholesale Lending Division Lock Desk will be closed on Monday, September 2, 2019 for Labor Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, September 3, 2019. Additionally, the Lock Desk will close early on Friday, August 30, 2019 at 11:00 A.M. PST due to […]

Overview As a reminder, the maximum loan-to-value (LTV) and combined loan-to-value (CLTV) percentages will be reduced from 85% to 80% for all FHA cash-out refinance mortgages with case numbers assigned on or after September 1, 2019. For borrowers seeking to combine a first and second lien, the maximum CLTV ratio for an FHA Rate and Term refinance is 97.75%. […]