Latest News Category: Bulletin

Overview Effective January 2, 2019, Carrington Mortgage Services, LLC (CMS) Wholesale will update the Submission Acceptance process on Broker Disclosed Loans as follows: A Broker may submit a Clerical Revised Loan Estimate to correct information located on page 3 of the Loan Estimate, within three (3) business days of the submission. CMS will no longer […]

Overview In compliance with Maryland Mortgage Statue 09.03.06.20 – Duty of Care, Carrington Mortgage Services, LLC (CMS) will require the Broker / Loan Officer to provide an executed HPML Attestation (refer to sample provided) for all Carrington Flexible Advantage and Flexible Advantage Plus Higher Priced Mortgage Loans (HPML) with a subject property in the state […]

Overview During the holiday season Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will observe the following schedule: Monday, December 24, 2018 – Closed for the Christmas holiday Tuesday, December 25, 2018 – Closed for the Christmas holiday Tuesday, January 1, 2019 – Closed for New Year’s Day holiday In addition, due to […]

Last Week in Review: Summer Rates Return As it pertains to low rates, be careful what you ask for - it will likely take pain, chaos, fear and uncertainty to get them.  This past Thursday, thanks to uncertainty around the U.S. and China trade deal, fear of slowing global economic growth, a roughed-up Stock market and […]

Overview Effective January 1, 2019, Carrington Mortgage Services, LLC (CMS) will implement the following Underwriting Fee schedule for all wholesale loan submissions: Broker Disclosed Loans: All broker-disclosed submissions must include the updated underwriting fee listed on the broker’s initial Loan Estimate. When Loan Setup receives a broker-disclosed submission without the underwriting fee disclosed correctly and […]

  Overview The Carrington Mortgage Services (CMS) Lock Desk will be closed in observance of President George H.W. Bush’s death on Wednesday, December 5, 2018 which has been designated as a National Day of Mourning. The financial markets will be closed and no rate sheets will be produced and no rate locks will be allowed. […]

Last Week in Review: Soothing Words Helps Rates Improve We heard doves cry this week, when Fed Chairman Jerome Powell spoke in NYC on Wednesday. Doves are people who offer peaceful polices, so upon Mr. Powell's soothing speech both Stocks and Bonds moved nicely higher, with home loan rates hitting their best levels in nearly […]

Overview Effective immediately, CoesterVMS will no longer be an approved AMC for new orders. Orders placed before November 27, 2018 with Coester will be accepted. For questions regarding orders, please contact solutions@coestervms.com.

New Program Gives Originators a Distinct Advantage in the Market ANAHEIM, Calif. (Nov. 19, 2018) — Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, today announced the launch of its Correspondent Lending Division. The addition of the Correspondent channel complements CMS’s full portfolio of loan origination channels, which includes […]

The Carrington Mortgage Services, LLC - Wholesale Lending Division Offices and Lock Desk will be closed Thursday, November 22, 2018 and Friday, November 23, 2018 in observance of Thanksgiving, which is a federal holiday. Due to the holiday, the Lock Desk will be closing early on Wednesday, November 21, 2018 at 11:00 AM PST (early […]