Latest News Category: Bulletin

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).  […]

Overview Effective April 16, 2020, Carrington Mortgage Services, LLC (CMS) will implement the following temporary changes to our wholesale submission acceptance until further notice: Suspending all skinny package loan submission […]

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 […]

Overview Here is a simplified guide to help evaluate the permissible Agency appraisal and form requirements during the COVID-19 crisis.  Effective immediately, and until further notice, all loans submitted to […]

Overview Effective immediately, Carrington Mortgage Services, LLC (CMS) will require Brokers to transfer all FHA Cases to CMS prior to submission to Underwriting.  The Broker must request the case transfer […]

Overview This temporary guidance is effective for all loans submitted on or after April 13, 2020. Carrington Mortgage Services, LLC (CMS) is temporarily updating the debt to income (DTI) guidelines […]

Overview Effective immediately, Carrington Mortgage Services, LLC (CMS) will require Borrower Paid Compensation for FHA and USDA Full Documentation loan submissions with FICO scores less than 620.  CMS will hold […]

Overview Due to closure of recording offices, Carrington Mortgage Services, LLC (CMS) may not proceed with the closing or funding in counties with Recording Office Closures in a state that […]

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.  […]

Overview Here is a simplified guide to handle employment, income and asset documentation and verification during the COVID-19 crisis.  These procedures are effective indefinitely until we issue further direction. Employment […]