Latest News Author: Rodney Ashton

The Carrington Mortgage Services, LLC (CMS) Lock Desk will close early at 11:00 AM Pacific Time on Friday, March 30, 2018 for Good Friday. Normal lock hours will resume on Monday, April 2, 2018.

Since 2007 Carrington Mortgage Services has grown into a nationally recognized mortgage lender funding over $20 billion. We are one of the top employers by National Mortgage Professional in 2018!  

Effective March 14, 2018, CMS will offer a separate LLPAs for FICO scores below 641 for USDA Full Documentation Loans. This should reduce the number of USDA Full Documentation loans that previously failed the QM Fee Limits threshold test. IMPORTANT NOTE: For loans that are already locked, the pricing and product code will remain unchanged […]

Executive Vice President Rick Sharga discuss the impact of rising interest rates on the housing market. Watch the latest video at foxbusiness.com View on FoxBusiness.com.

The Lock Desk will be closed on Monday, February 19, 2018 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 20, 2018. Locks that expire on the holiday will automatically roll to the next business day. In addition, there are some important disclosure considerations associated with the holiday: […]

Bank statements now acceptable in place of IRS Tax documents for Carrington’s Non-Prime Loans. PURCHASE & REFINANCELOAN DETAILS UP TO $1.5 MILLION FICO DOWN TO 500 | 70% LTV UP TO $500K CASH-OUT FICO DOWN TO 500 | 70% LTV UP TO $1 MILLION INVESTMENT PROPERTIES FICO DOWN TO 620 | 75% LTV UP TO […]

Expand Your Pipeline with Non-Prime Loan Products Purchase, refinance and cash-out available Give your business the boost it needs by adding Non-Agency loans to your product offerings. NON-PRIME LOAN PROGRAM HIGHLIGHTS* Primary and second homes Purchase, refinance and cash-out loans available Loan amounts up to $1.5 million Minimum credit score of 500 (75% LTV) Maximum […]

The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, January 15, 2018 for Martin Luther King Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 16, 2018. Locks that expire on the holiday will automatically roll to the next business day.  In addition, there are […]

Effective December 21, 2017 the USDA suspended its requirements with regard to obtaining IRS Form 4506-T tax transcripts for all adult members of the household. It is no longer necessary to complete or process an IRS 4506-T for the borrower(s) or for any other adult member in the household prior to funding. Verification of adjusted […]

BrokerIQ is set up to accept 2018 Demographic (DI) information at this time. Effective January 1, 2018, all Lender Disclosed packages and Broker Disclosed Accepted Submissions must have the updated 1003 with DI Addendum. If Brokers submit with a prior version, Loan Setup will accept the submission but require a corrected and signed updated 1003 […]