Latest News Category: Bulletin

  Last Week in Review: Disinflation washes up on our shores If inflation moves lower or is expected to move lower -- rates must go lower as well. That's the situation right now. The financial markets and interest rates also follow inflation on a global scale. Why is this important to homeowners? If disinflation or the […]

On March 5, 2019, we asked our broker community about how much of their business is Non-QM. We're curious since there is so much talk in the broker and lending community about Non-QM right now and we wanted to see what you think the future will be. 316 people responded to our survey. Here are […]

Overview Due to severe storms, straight-line winds, and tornadoes in Alabama, FEMA has declared the following county a disaster. Incident Period: March 3, 2019 Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required. If an appraisal was not required due to a property inspection […]

Last Week in Review: U.S. Economy showing solid growth. This past week, the Bureau of Economic Analysis (BEA) reported the U.S. economy, as defined by Gross Domestic Product (GDP), grew at a 2.6% rate in the fourth quarter of 2018. Economists and the markets were expecting 2.0% to 2.3%, so this was a nice upside surprise. […]

Back by Popular Demand! Carrington Mortgage Services, Wholesale Lending Division is offering to waive the underwriting fee on ALL Non-QM* submissions in the month of March. Whether you submit 1 or 100 loans, the underwriting fee ($650 in most states) will be waived! Bonus: The Slamdunk Offer! In by 10 and out Same Day** For […]

Last Week in Review: Minutes Revealed The highlight of this past week was the Fed Minutes from the January Fed Meeting. The Minutes are a detailed record of the Fed's monetary policy setting meeting, so the markets gain insight into the psyche of the Fed as it relates to interest rates, the economy and more. What […]

Overview As a reminder, effective for loan applications taken on or after February 15th, 2019 Lenders must provide a Comparison Disclosure within three (3) days of loan application for all VA Full Doc refinance loan transactions (even if the existing loan is NOT a VA loan). Carrington Mortgage Services, LLC (CMS) has developed a new […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed on Monday, February 18, 2019 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 19, 2019. Locks that expire on the holiday will automatically roll to the next business day.  In addition, there are some important […]

Overview On December 17th, 2018, the Veteran’s Administration (VA) published an Interim Final Rule addressing VA guaranty requirements for cash-out refinance loans. The rule will be effective for loan applications taken on or after February 15th, 2019 and applies to all Full Doc refinance loan transactions (even if the existing loan is NOT a VA […]

Overview Effective February 7, 2019, Carrington Mortgage Services, LLC (CMS) is pleased to announce the following guideline improvements for the Carrington Advantage products: Higher LTV’s for CFA Investment cash-out loans More lenient Non-Sufficient Funds (NSF) requirements on bank statement programs Improved LTV’s for Investment Cash-out (CFA program only) Improved the Investment Overlay LTV Reduction for […]