Latest News Category: Bulletin

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 […]

The Mercury Network Carrington Mortgage Services, LLC (CMS) is pleased to announce that effective December 10, 2021, Wholesale brokers will be able to utilize the Mercury Network, a leading Appraisal Vendor Management Company, to coordinate appraisal ordering, payment billing and appraisal delivery by CMS approved Appraisal Management Companies (AMCs). Brokers with existing Mercury Accounts can […]

Conventional Loans The Federal Housing Finance Agency (FHFA) has issued the following maximum first mortgage loan limits that will apply to conventional loans for acquisition by Fannie Mae / Freddie Mac with a note date on and after January 1, 2022. 2022 Conventional Loan Limits Units Conforming Amount - Contiguous States and District of Columbia […]

Overview Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Thursday, November 25, 2021 and Friday, November 26, 2021 in observance of Thanksgiving, which is a federal holiday.  Due to the holiday, the Lock Desk will be closing early on Wednesday, November 24, 2021 at 11:00 AM PST (early market closure of […]

Overview Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Thursday, November 11, 2021 in observance of Veteran’s Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Friday, November 12, 2021. Locks that expire on the holiday will automatically roll to the next business day.  In addition, there […]