Latest News Category: Bulletin

Last Week in Review: Stocks and Mortgage Rates Rise This past week home loan rates ticked up sharply from the previous week leaving many wondering -- have rates bottomed? For would-be homebuyers, real estate agents, and folks working in the housing industry, here are three things affecting home loan rates today and stories to follow in […]

Last Week in Review: Too Much of a Good Thing for Rates Bonds and home loan rates hate good news. So, the influx of positive news abroad coupled with strong jobs data here in the U.S. pressured Mortgage Bonds lower and home loan rates higher. The main event, which helped Stocks and hurt home loan rates, […]

The Carrington Mortgage Services, LLC - Wholesale Lending Division Lock Desk will be closed on Monday, September 2, 2019 for Labor Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, September 3, 2019. Additionally, the Lock Desk will close early on Friday, August 30, 2019 at 11:00 A.M. PST due to […]

Overview As a reminder, the maximum loan-to-value (LTV) and combined loan-to-value (CLTV) percentages will be reduced from 85% to 80% for all FHA cash-out refinance mortgages with case numbers assigned on or after September 1, 2019. For borrowers seeking to combine a first and second lien, the maximum CLTV ratio for an FHA Rate and Term refinance is 97.75%. […]

Overview The Veteran’s Administration (VA) published Circular 26-19-22 on August 8, 2019. The Circular is effective immediately and clarifies the Recoupment, NTB, Appraisal, Seasoning Requirements (for all Refinances including Cash-out), and Loan Comparison Statement requirements for all VA IRRRLs.  All previous Circulars pertaining to VA IRRRLs are superseded by this new Circular.  The Circular is […]

Last Week in Review: Indecision Ahead of Huge News Week The U.S. Bond market traded in a tight sideways range, leaving home loan rates essentially at unchanged levels week over week. However, the technical picture reveals Bond market indecision as prices trade near the best levels of the year. Why the indecision? The financial markets are […]

Last Week in Review: Summer Sideways Trend Continues This past week had little economic data for the financial markets to react to. As a result, home loan rates have inched higher though they remain near multi-year lows. It's pretty easy to see the sideways trend in mortgage Bonds and the reason why home loans have […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Monday, July 15, 2019, the Carrington Advantage (Flexible Advantage/Advantage Plus and Investor Advantage) programs will offer a new Interest-only product option. Interest-Only loans offer borrowers lower monthly payments by allowing borrowers to pay only the interest during the 10 year interest-only period.  Once the […]

Last Week in Review: Goldilocks Scenario for Housing Continues... The housing market is enjoying a great 2019 and the good times are poised to continue. We are seeing home price gains slow to a healthier level and at an equilibrium with wage growth. Consumer and business confidence remain at multi-decade highs, unemployment rates are at 51-year […]

Big Pricing Improvement with our Non-QM Loan Programs The team at Carrington Mortgage Services is extremely excited to announce some big changes to our Non-QM pricing: Carrington Flexible Advantagesm: LLPA's improved .25% (Full Doc and lower FICO loans) - see the matrix Carrington Flexible Advantage PLUS: Base price improved .375% - across the board - […]