Latest News Author: Rodney Ashton

The Lock Desk will be closed on Monday, May 28, 2018 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, May 29, 2018. Additionally, the Lock Desk will close early on Friday, May 25, 2018 at 10:00 A.M. PST due to the early close of the financial markets. Locks […]

Overview Effective May 3, 2018 Carrington Mortgage Services, LLC (CMS) will introduce a new Near-Prime Product to broaden our commitment to serving the underserved borrower! The Near-Prime product is well suited for borrowers who may have credit challenges but need pricing that is closer to prime rates. The program features Fixed and Adjustable Rate loan […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce that New York loans (excluding NY CEMA loans) will be eligible under the Non-Prime and Near-Prime products effective May 3, 2018. For a New York loan to qualify the minimum loan size must be greater than the Conforming loan limit plus $1.

As a reminder, VA regulations limit the fees the veteran can pay to obtain a loan. Carrington Mortgage Services, LLC (CMS) strictly adheres to the limitations on borrower-paid fees and charges when making VA loans. CMS will permit the Broker Fee to be included in the 1% Fee Amount to the veteran may be charged. […]

The HUD Higher Priced Mortgage Loan (HPML) rule exempts FHA Streamline loans from the Federal ATR/QM Higher Priced Maximum APR requirement. CMS will accept FHA Streamlined loan submissions that exceed HPML APR Thresholds (APR can exceed APOR + 1.15 + MIP). FHA Streamlined loans will remain subject to: ATR/QM Fee threshold unless the property is […]

CNBC highlights Carrington's new Non-Prime programs with Rick Sharga See what Rick Sharga, Executive Vice President of Carrington Mortgage Holdings has to say about Carrington's new Non-Prime loan programs, in this CNBC video clip.  

Effective for Non-Prime Primary Residence and Second Home loans with applications taken on and after Monday, April 2, 2018, Carrington Mortgage Services, LLC (CMS) will introduce the following guideline enhancements: New Credit Grades – Non-Prime Program revised to Credit Grades A, B, and C (formerly grades A-, B+, B and RHE). See CMS Non-Prime Matrix […]

Carrington Mortgage Services, LLC (CMS) is pleased to announce the addition of a new appraisal vendor, CoesterVMS Nationwide Appraisal Management and Valuation Services, effective March 30, 2018. Coester VMS is a nationwide appraisal management company and provides lenders with the most accurate valuations. As of the effective date, Coester VMS will be live in Smart […]

Want to know what’s in store for the real estate and mortgage industries in 2018? Will low inventory, rising rates, and falling affordability derail the housing recovery? Get the answers to these and other questions in an informative webinar hosted by Rick Sharga, Executive Vice President, Carrington Mortgage Holdings, on the State of the U.S. […]

Carrington Mortgage Services, Wholesale Lending division is implementing an $85 Tax Service fee. For loans where Carrington discloses, the $85 tax fee will be automatically included. This is effective immediately. For Broker Disclosed loans, we ask that you begin disclosing this fee right away. As of June 1st, 2018 loans we will be rejecting submissions […]