Latest News Category: Bulletin

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and we understand there may be concerns about its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority. This bulletin has updated effective dates. Updates are […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority and this bulletin will be updated as additional Agency guidance is received. This bulletin has […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority and this bulletin will be updated as additional Agency guidance related to powers of attorney […]

Overview In an effort to continue responsible lending during the COVID-19 pandemic, effective Monday May 11, 2020, Carrington Mortgage Services, LLC (CMS) will implement a new Loan Applicant Attestation form that will generate with the closing package for all loans. To execute the form, the Closing Agent will present the 1003 Loan Application(s) and orally […]

Overview The Lock Desk will be closed on Monday, May 25, 2020 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, May 26, 2020. Additionally, the Lock Desk will close early on Friday, May 22, 2020 at 11:00 A.M. PST due to the early close of the financial markets. […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following recent Government product underwriting updates (highlighted in red). These updates are clarifications of existing guidance or were announced via previous bulletins and are effective immediately.  Please note this is an abbreviated summary of the guideline changes. All updates should be viewed within the […]

Overview Due to recent Fannie Mae/Freddie Mac guidance related to cash-out refinances where borrowers request forbearance assistance, effective immediately and until further notice, Carrington Mortgage Services, LLC (CMS) will no longer offer cash-out refinance transactions under the conventional loan program.  As CMS cannot foresee when a borrower will request forbearance assistance for this loan program, […]

Overview The IRS has announced a temporary suspension of their Income Verification Express Service (IVES) due to their COVID-19 procedures.  IVES is used by mortgage vendors to obtain IRS transcripts.  It appears that orders placed on and prior to March 26, 2020 will continue to be processed by the IRS, albeit with significant delays, and […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority and this bulletin will be updated as additional Agency guidance related to powers of attorney […]

Overview As a reminder, Carrington Mortgage Services, LLC (CMS) recently implemented revised lock policy requirements requiring the loan be approved prior to lock and an appraisal in file (when required).  BrokerIQ has been updated to allow pricing even when the loan is not eligible for lock.  The requirement to select a loan product and price […]