Latest News Category: Bulletin

Effective for Non-Prime Primary Residence and Second Home loans with applications taken on and after Monday, April 2, 2018, Carrington Mortgage Services, LLC (CMS) will introduce the following guideline enhancements: New Credit Grades – Non-Prime Program revised to Credit Grades A, B, and C (formerly grades A-, B+, B and RHE). See CMS Non-Prime Matrix […]

Carrington Mortgage Services, LLC (CMS) is pleased to announce the addition of a new appraisal vendor, CoesterVMS Nationwide Appraisal Management and Valuation Services, effective March 30, 2018. Coester VMS is a nationwide appraisal management company and provides lenders with the most accurate valuations. As of the effective date, Coester VMS will be live in Smart […]

Want to know what’s in store for the real estate and mortgage industries in 2018? Will low inventory, rising rates, and falling affordability derail the housing recovery? Get the answers to these and other questions in an informative webinar hosted by Rick Sharga, Executive Vice President, Carrington Mortgage Holdings, on the State of the U.S. […]

Carrington Mortgage Services, Wholesale Lending division is implementing an $85 Tax Service fee. For loans where Carrington discloses, the $85 tax fee will be automatically included. This is effective immediately. For Broker Disclosed loans, we ask that you begin disclosing this fee right away. As of June 1st, 2018 loans we will be rejecting submissions […]

The Carrington Mortgage Services, LLC (CMS) Lock Desk will close early at 11:00 AM Pacific Time on Friday, March 30, 2018 for Good Friday. Normal lock hours will resume on Monday, April 2, 2018.

Since 2007 Carrington Mortgage Services has grown into a nationally recognized mortgage lender funding over $20 billion. We are one of the top employers by National Mortgage Professional in 2018!  

Effective March 14, 2018, CMS will offer a separate LLPAs for FICO scores below 641 for USDA Full Documentation Loans. This should reduce the number of USDA Full Documentation loans that previously failed the QM Fee Limits threshold test. IMPORTANT NOTE: For loans that are already locked, the pricing and product code will remain unchanged […]

Executive Vice President Rick Sharga discuss the impact of rising interest rates on the housing market. Watch the latest video at foxbusiness.com View on FoxBusiness.com.

Per Diem Interest on FHA Streamline and VA IRRRL Loans, Effective March 1st, 2018 Effective March 1, 2018, Carrington Mortgage Services, LLC (CMS) will no longer offer an interest credit to cover the per diem interest on FHA Streamline and VA IRRRL loans. New Streamline/IRRRL submissions received on or after March 1, 2018 will no […]

Carrington Mortgage Services, LLC requires survey coverage in Florida, Ohio, New Mexico, New York and Texas for all loan transactions with the exception of condominium transactions. Effective for all new loan submission on and after February 23, 2018, Survey fees must be added to all loans from these five states. Contact your Account Executive or […]