Latest News Category: Bulletin

Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Monday, November 12, 2018 in observance of Veteran’s Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, November 13, 2018. Locks that expire on the holiday will automatically roll to the next business day. In addition, there are […]

Last Week in Review:  Rates hit seven-year highs midweek on the heels of a confusing Fed message. Our Federal Reserve has a dual mandate - to maintain price stability (inflation) and maximum employment. They also have a 3rd "unstated" mandate, which is to maintain market calm. This past week, the Fed came up a bit […]

CARRINGTON CAN HELP YOU CLOSE LOANS OTHERS CAN’T Carrington recently closed these Non-QM* loan scenarios for 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℠ & Flexible […]

Last Week in Review: Rates were higher early in the week - but improved on the heels of a soft Consumer Inflation reading and rout in Stocks. When following the direction of interest rates, one only has to follow the direction of inflation. If inflation is moving higher, rates are going higher. The opposite is […]

On Friday, October 12, 2018, Carrington Mortgage Services, LLC (CMS) resumed normal operations under the Disaster Policy. CMS will authorize funding in all five states (Alabama, Florida, Georgia, North Carolina, and South Carolina) that were previously placed on hold. FEMA has declared the following counties in Florida for Individual Assistance. Incident Period: October 7, 2018 […]

Effective immediately, and until further notice, Carrington Mortgage Services, LLC (CMS) will temporarily suspend funding all loans with subject properties in the following Florida and Georgia counties: This suspension is due to the potential impact of Hurricane Michael that continues to be a major Category 3 storm which is expected to arrive at the Gulf […]

Carrington Mortgage Services, LLC - Wholesale Division is pleased to announce Underwriting updates to our Carrington Flexible Advantage℠, Advantage℠ Plus, & Investor Advantage℠ Non-QM products; effective for submissions dated on and after September 19, 2018. Please contact your account executive if you have questions. [btn link="/become-approved/" color="skyBlue" size="size-m"]Become Approved[/btn]

On Monday, September 17th, 2018, Carrington Mortgage Services, LLC (CMS) will resume normal operations under the Disaster Policy. CMS will authorize funding in all four states (North Carolina, South Carolina, Virginia, and West Virginia) that were placed on hold. FEMA has declared the following counties in North Carolina for Individual Assistance: Only those loans in […]

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 […]