Latest News Category: Bulletin

Last Week in Review: Sales of new homes rose in May while annual inflation readings edged higher. First quarter GDP disappointed. Sales of new homes rose 6.7 percent from April to an annual rate of 689,000, the Commerce Department reported. However, April's sales figure was revised lower to 646,000 from the original reading of 662,000. […]

Overview Carrington Mortgage Services. LLC (CMS) is pleased to announce the following product improvements for the Carrington Flexible Advantage (formerly Non-Prime) and Carrington Flexible Advantage Plus (formerly Near-Prime) Programs. Maximum Loan Amount increased to $2M (formerly $1.5M) Maximum Cashout increased to $750K for loans with LTVs ≤ 75%; $500K for loans with LTVs > 75 […]

The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed on Wednesday, July 4, 2018, for Independence Day, which is a Federal Holiday. In addition, the lock desk will close early (10:00 AM PST) on Tuesday, July 3, 2018. Normal lock hours will resume on Thursday, July 5, 2018. Locks that expire on the […]

Last Week in Review: Existing Home Sales fell in May. Housing Starts signaled potential hope for would-be buyers. May Existing Home Sales fell 0.4 percent from April to an annual rate of 5.43 million units, the National Association of REALTORS® reported. From May 2017 to May 2018, Existing Home Sales were down 3 percent. While […]

Coming to Sacramento July 12th! Elevate your performance as a Loan Originator in the Sacramento area with the information and tools provided by attending this free event. Gain new insights into your local market and national trends. Get ahead of your competition by leveraging this information to elevate your performance and better serve customers in […]

Carrington Mortgage Services, LLC (CMS) complies with the Government Refinance Seasoning and Net Tangible Benefit requirements as described below. Please note: FHA/USDA seasoning days calculation has been revised based on updated guidance from GNMA.  Encompass has been updated to enforce these requirements. Seasoning Requirements Net Tangible Benefit Requirements   Footnotes for Seasoning and Net Tangible […]

Last Week in Review: Retail Sales were on the rise while inflation showed some warming signs. The Fed also hiked its benchmark rate. The Commerce Department reported that Retail Sales jumped 0.8 percent from April to May, well above the 0.4 percent expected. From May 2017 to May 2018, Retail Sales were up 5.9 percent. […]

Last Week in Review: Home prices continue to rise while geopolitical and trade war uncertainty eased. Research firm CoreLogic reported that home prices, including distressed sales, rose 6.9 percent from April 2017 to April 2018, while there was a 1.2 percent gain from March to April of this year. Looking ahead, CoreLogic forecasts a 5.3 percent […]

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! Carrington has a full spectrum of programs for your borrowers for a variety of loan scenarios, including FHA, VA, USDA, Conventional and […]

Carrington Mortgage Services, LLC (CMS) is pleased to announce that effective Tuesday, June 5, 2018, Brokers may submit loans using Lender Paid Compensation for the Near-Prime and Non-Prime products. Refer to the CMS Rate Sheets for the latest pricing. Please note: For all transactions where the Broker selects the Lender Paid Compensation option, the submission […]