Latest News Category: Bulletin

Overview Effective April 18, 2022, Carrington Mortgage Services, LLC (CMS) is pleased to announce an Investor Advantage program enhancement to increase the maximum LTV to 75% for First Time Investors with higher FICO scores. The maximum LTV requirements for First Time Investors are outlined below: Maximum LTV = 75% with FICO ≥ 680 and DSCR ≥ […]

Overview In observance of Good Friday, the Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Friday, April 15, 2022. Normal Lock Desk hours will resume on Monday, April 18, 2022. As a reminder, pursuant to the Lock Policy all lock extensions must be requested prior to expiration. If a lock expires on Friday, […]

Overview Effective March 21, 2022, Carrington Mortgage Services, LLC (CMS) is pleased to announce the following enhancements for the Investor Advantage loan program: Increased Maximum LTV from 82.50% to 85% for the 700 FICO band with loan amounts up to $1,000,000. Increased the permitted interested party Seller Contributions from 2% to 4% toward closing. Gift […]

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 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 […]