Latest News Author: Rodney Ashton

“Maria is a true non-QM specialist,” says Jeff Massotti, Director, Regional Sales, Wholesale for CMS. “She knows how to custom fit her clients into the best programs for their borrowers. Her attention and knowledge to the guidelines, and ability to maneuver within the non-QM suite of products, speaks to her daily effectiveness and success. She […]

Overview The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk will be closed on Monday, February 21, 2022 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 22, 2022. Rate Locks that expire on the holiday will automatically roll to the next business day.  In […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce a new VA Cash-Out Refinance option up to 100% LTV. The increased VA Cash-Out LTV option is subject to the following requirements: Effective for new submissions or Change of Circumstance (COC) requests on existing submissions beginning January 31, 2022, Maximum 100% LTV/CLTV, inclusive of any […]

Overview Due to severe storms, straight-line winds, and tornadoes in Tennessee, FEMA has declared the following counties a disaster. Incident Period: December 10, 2021 - December 11, 2021 State FEMA Disaster Declaration Counties Tennessee January 14, 2022 Cheatham, Davidson, Dickson, Gibson, Henderson, Henry, Lake, Obion, Stewart, Sumner, Weakley and Wilson Re-Inspection by Product Type If […]

Overview The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk will be closed Monday, January 17, 2022, for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 18, 2022. Rate Locks that expire on the holiday will automatically roll to the next business […]

Overview Due to flooding and mudslides in Washington, FEMA has declared the following counties a disaster. Incident Period: November 13, 2021 - November 15, 2021 State FEMA Disaster Declaration Counties Washington January 5, 2022 Clallam, Skagit and Whatcom Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances […]

Overview Due to wildfires and straight-line winds in Colorado, FEMA has declared the following county a disaster. Incident Period: December 30, 2021 and Continuing State FEMA Disaster Declaration Counties Colorado December 31, 2021 Boulder Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA Full Doc […]

Overview Effective December 31, 2021, Carrington Mortgage Services, LLC (CMS) will discontinue offering FHA 203(b) Escrow Repair loans through the Wholesale Channel.  Brokers must submit all 203(b) loans prior to the December 31, 2021 effective date or the loans will be denied.

Overview Due to severe storms and flooding in Alabama, FEMA has declared the following counties a disaster. Incident Period: October 6, 2021 – October 7, 2021 State FEMA Disaster Declaration Counties Alabama December 21, 2021 Jefferson and Shelby Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances […]

Overview During the 2021 holiday season the Carrington Mortgage Services, LLC (CMS) Lock Desk, will observe the following schedule: Thursday, December 23, 2021 – Close early at 11:00 AM PST (early market closure of 2:00 PM EST) Friday, December 24, 2021 – CMS Offices closed for the Christmas holiday Monday, January 3, 2022 – CMS […]