Latest News Category: Bulletin

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 […]

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 […]

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 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 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 […]