2019 Wholesale Underwriting Fees

December 6, 2018rashtonBulletins, Bulletins

Overview

Effective January 1, 2019, Carrington Mortgage Services, LLC (CMS) will implement the following Underwriting Fee schedule for all wholesale loan submissions:

Broker Disclosed Loans: All broker-disclosed submissions must include the updated underwriting fee listed on the broker’s initial Loan Estimate.

When Loan Setup receives a broker-disclosed submission without the underwriting fee disclosed correctly and the loan has not been locked, Setup will give the broker/AE an opportunity to pre-lock the loan with a Fee Buyout prior to rejecting the submission.

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