Latest News Author: Rodney Ashton

Overview Carrington Mortgage Services, LLC (CMS) has made an immediate adjustment to the Wholesale Rate Lock policy. Effective, May 14th, 2019, the Lock Desk will no longer process any lock extensions on VA IRRRL transactions. In addition, automated lock extensions are no longer available in BrokerIQ/CorrIQ/Encompass on VA IRRRL loan programs.

Last Week in Review: Americans favor owning Americans Favor Owning Versus Renting a Home The Census Bureau recently reported a homeownership rate of 64.2% in the first quarter of 2019, up from the 10-year low of 63.7% in the first quarter of 2015. A recent study by LendingTree shows that 67% of homeowners surveyed aged […]

Overview In response to continued feedback and clarification from the VA and others, the Carrington Mortgage Services, LLC (CMS) VA Interest Rate Reduction Refinance Loan (VA-IRRRL) Guidelines and Matrix are being republished with updated requirements regarding recoupment and NTB. As a reminder, The Protecting Veterans From Predatory Lending Act of 2018 (the Act), was enacted […]

Join us to learn why FHA Manual UW is even more important after recent DU TOTAL Scorecard Updates. During this webinar we will cover: What factors in the file can trigger a downgrade to Manual Underwrite What Non-Traditional Credit options are available for borrowers without a credit score What are Compensating Factors, and how can […]

In an effort to better serve our broker partners, Carrington Mortgage has created a Marketing Resouces center in brokerIQ for approved brokers. The materials available include flyers in PDF format that are customizable with your name, logo, contact information and disclaimers. The flyers can be printed and/or emailed to your prospective borrowers. Please browse the page […]

On March 15, 2019, we surveyed our broker community to find out more about their media consumption habits. 116 people responded and these are the results. We think they are very interesting and we hope you do too.

  Last Week in Review: Disinflation washes up on our shores If inflation moves lower or is expected to move lower -- rates must go lower as well. That's the situation right now. The financial markets and interest rates also follow inflation on a global scale. Why is this important to homeowners? If disinflation or the […]

On March 5, 2019, we asked our broker community about how much of their business is Non-QM. We're curious since there is so much talk in the broker and lending community about Non-QM right now and we wanted to see what you think the future will be. 316 people responded to our survey. Here are […]

Overview Due to severe storms, straight-line winds, and tornadoes in Alabama, FEMA has declared the following county a disaster. Incident Period: March 3, 2019 Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required. If an appraisal was not required due to a property inspection […]

Back by Popular Demand! Carrington Mortgage Services, Wholesale Lending Division is offering to waive the underwriting fee on ALL Non-QM* submissions in the month of March. Whether you submit 1 or 100 loans, the underwriting fee ($650 in most states) will be waived! Bonus: The Slamdunk Offer! In by 10 and out Same Day** For […]