Latest News Category: Bulletin

Overview The Federal Housing Finance Agency (FHFA) recently announced targeted increases to Fannie Mae and Freddie Mac's Loan Level Pricing Adjustments (LLPA/upfront fees) for certain high balance/super-conforming loans and second home loans. The updated LLPAs are effective for all whole loans purchased on or after April 1, 2022 and for loans delivered into MBS pools […]

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 […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the new ProcessIQ service available for Wholesale Brokers.  This new service provides approved CMS Brokers with the option to have their loans processed by Carrington.  This service is unique in the industry and gives Carrington a competitive advantage over all other lenders!  ProcessIQ allows brokers […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following Carrington Advantage product underwriting updates (highlighted in red). Please note this is an abbreviated summary of the guideline changes. All updates should be viewed within the context of the full guidelines available on Carrington BrokerIQ. Investor Advantage Program Old Requirements Updated Requirements Added […]

Overview Due to severe storms, straight-line winds, flooding, and tornadoes in Kentucky, FEMA has declared the following counties a disaster. Incident Period: December 10, 2021 and continuing State FEMA Disaster Declaration Counties Kentucky December 12, 2021 Caldwell, Fulton, Graves, Hopkins, Marshall, Muhlenberg, Taylor, and Warren Re-Inspection by Product Type If your loan is … A […]