Latest News Category: Bulletin

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Friday, July 2, 2021 for a Company Holiday and also Monday, July 5, 2021 for Independence Day, which is the observed Federal Holiday. Normal lock hours will resume on Tuesday, July 6, 2021. Locks that expire on the holiday will automatically roll to […]

Overview The U.S. Department of Housing and Urban Development (HUD) has updated the payment calculation of monthly obligation for student loans. The change is effective for all case numbers assigned on or after August 16, 2021; however, Carrington Mortgage Services, LLC (CMS) has elected to begin using the new guidance effective immediately. The change applies […]

Overview On June 17, 2021, President Biden signed legislation making June 19th a federal holiday to be officially known as Juneteenth National Independence Day. The creation of this new federal holiday will impact mortgage disclosure regulations that are tied to “business day” time periods, in particular the time to close after a consumer’s receipt of […]

Overview HUD recently announced clarifications to their guidelines for certain Non-Permanent Residents applying for FHA-insured mortgages, including: Eligibility of borrowers with H1-B non-immigrant visa status without an EAD, Eligibility of citizens from the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau without an EAD, and Adopting and continuing […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following underwriting guideline enhancements for the Non-QM loan programs (Prime Advantage, Flexible Advantage/Advantage Plus and Investor Advantage). All guideline enhancements are effective immediately and may be applied to loans not yet closed. Please note this is an abbreviated summary of the guideline changes. All […]

Overview Due to damage from severe storms and flooding in West Virginia, FEMA has declared the following counties a disaster. Incident Period: February 27, 2021 - March 4, 2021 State FEMA Disaster Declaration Counties West Virginia May 20, 2021 Cabell, Kanawha, Mingo and Wayne Re-Inspection by Product Type If your loan is … A re-inspection […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, May 31, 2021 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, June 1, 2021. Additionally, the CMS Lock Desk will close early on Friday, May 28, 2021 at 11:00 A.M. PST due to […]

Overview Due to damage from severe storms, tornadoes and flooding in Tennessee, FEMA has declared the following counties a disaster. Incident Period: March 25, 2021 – April 03, 2021 State FEMA Disaster Declaration Counties Tennessee May 08, 2021 Davidson, Williamson and Wilson Re-Inspection by Product Type If your loan is … A re-inspection is required […]

Overview Due to damage from severe storms, straight-line winds, and tornadoes in Alabama, FEMA has declared the following counties a disaster. Incident Period: March 25, 2021 - March 26, 2021 State FEMA Disaster Declaration Counties Alabama April 26, 2021 Bibb, Calhoun, Clay, Hale, Jefferson, Perry, Randolph and Shelby Re-Inspection by Product Type If your loan […]

Overview Due to damage from Severe Storms, Flooding, Landslides and Mudslides in Kentucky, FEMA has declared the following counties a disaster. Incident Period: February 27, 2021 - March 14, 2021 State FEMA Disaster Declaration Counties Kentucky April 23, 2021 Breathitt, Clay, Estill, Floyd, Johnson, Lee, Magoffin, Martin and Powell Re-Inspection by Product Type If your […]