Latest News Category: Bulletin

Overview Effective immediately, and until further notice, Carrington Mortgage Services, LLC (CMS) will temporarily suspend funding all loans with subject properties in North Carolina, South Carolina, Virginia and West Virginia. This suspension is due to the potential impact of Hurricane Florence that continues to be a dangerous Category 4 storm which is expected to arrive […]

Last Week in Review: Non-farm payrolls rose in August. So did home prices in July. U.S. employers hired 201,000 new workers in August, above the 187,000 expected, the Bureau of Labor Statistics reported. However, June and July were revised lower by a total of 50,000 jobs. Job gains have averaged 185,000 per month over the last 3 […]

CARRINGTON CAN HELP YOU CLOSE LOANS OTHERS CAN’T Carrington recently closed this Non-Prime* loan scenario for one of our clients. Look familiar? Did you recently reject an applicant with similar facts? We approved them! We have a full spectrum of programs for a variety of loan scenarios, including FHA, VA, USDA, Conventional and Carrington's Flexible Advantage℠ […]

The Lock Desk will be closed on Monday, September 3, 2018, for Labor Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, September 4, 2018. Additionally, the Lock Desk will close early on Friday, August 31, 2018, at 10:00 A.M. PST due to the early close of the financial markets. Locks […]

Last Week in Review: Home price gains were strong in June. Did inflation heat up in July? Research firm CoreLogic reported that home prices, including distressed sales, rose 6.8 percent from June 2017 to June 2018. Prices were up 0.7 percent from May to June. However, gains could slow over the next year if further […]

Overview Effective Thursday, August 9, 2018, Carrington Mortgage Services, LLC (CMS) will introduce the Investor Advantage Program. The Investor Advantage Program is well suited for Investors with some credit challenges and is convenient without the need for income documentation and traditional debt ratios to qualify.  The borrower only needs to have positive cash flow for […]

Last Week in Review: Job growth eased in July while annual inflation remained tame in June and home prices continued to rise. Non-Farm Payrolls rose by 157,000 new jobs in July, below the 190,000 expected, the Bureau of Labor Statistics reported. However, the figures for May and June were revised higher by a total of […]

Last Week in Review: Annual inflation ticked up while small business optimism neared record highs. The Consumer Price Index (CPI) rose 2.9 percent in the 12 months ending in June, up slightly from the 2.8 percent annual reading in May. This was the largest annual increase since the year ending in February 2012, and it […]

25 bps to 100 bps Pricing Improvement  Effective immediately, Carrington Mortgage Services, LLC - Wholesale Lending Division has improved pricing on our Flexible Advantage programs (non-prime/near prime) : Full Doc Loans 12 Month Bank Statement Advantage 24 Month Bank Statement Advantage Program Enhancements  Max Loan Amount increased to $2 Million Maximum Cash out Increased to […]

Last Week in Review: The Jobs Report for June was better than expected. The holiday-shortened trading week saw market volatility due to global trade issues. Non-Farm Payrolls rose by 213,000 new jobs in June, above the 195,000 expected, the Bureau of Labor Statistics reported. The figures for April and May were also revised higher by […]