Latest News Category: Bulletin

Overview Effective August 15, 2015, the Carrington Mortgage Services, LLC (CMS) Wholesale Loan Setup requirement to obtain a Written List of Providers (Settlement Service Provider List) with Itemized Fees matching the amounts disclosed on the Broker’s Loan Estimate was temporarily suspended. The temporary suspension means the Written List of Providers will NOT be required to […]

Carrington Mortgage Wholesale Lending continues to remain loyal to the underserved market, while competitors continually move away from this segment. To further expand our support, Carrington is offering a 25bps LLPA adjustment on FHA/VA Full Doc loans with credit scores less than 640 throughout August, Jumbos excluded. Carrington remains the tough loans leader, closing loans others […]

Carrington Mortgage Services, LLC (CMS) is pleased to announce that Alaska has been added as an approved state for the Wholesale channel, effective July 20, 2017.

Overview Effective for all loans in production immediately, Carrington Mortgage Services, LLC (CMS) will apply the following guidance for VA IRRRL transactions:    

Effective immediately, Carrington Mortgage Services, LLC (CMS) will apply the following guidance for FHA loans in a standard IRS repayment plan (may not be part of a lien or judgment):   In addition, the following applies: It is acceptable for the current year owed to be added to an existing repayment plan No change in […]

Overview Effective July 6, 2017 Carrington Mortgage Services, LLC (CMS) now offers the FHLMC Conventional Home Possible and Home Possible Advantage programs. These programs support CMS’ commitment to the underserved market and have the following key benefits:   Program Codes Program Codes for the Home Possible and Home Possible Advantage programs are in the pricing […]

Overview Effective June 27, 2017, Carrington Mortgage Services, LLC (CMS) Wholesale Loan Setup will be required to obtain a Written List of Providers (Settlement Service Provider List) with Itemized Fees matching the amounts disclosed on the Broker’s Loan Estimate or Broker’s Fee Sheet. The Itemized Written List of Providers will be required on CMS disclosed […]

Join us August 18th-20th in Las Vegas Carrington will be exhibiting at the Originators Connect Conference, August 18th-20th at Planet Hollywood in Las Vegas, Nevada. Come talk to the Go-to-Lender for Government and Conventional loans. Stop by booth #311 and learn how to Grow Your Business with Carrington. We are the experts at Serving the […]

The Lock Desk will be closed on Monday and Tuesday, July 3rd & 4th, 2017 for the 4th of July Holiday. Normal lock hours will resume on Wednesday, July 5, 2017. The Lock Desk will close at its usual time (4 pm PT) on Friday, June 30th. Locks that expire on the holiday will automatically […]

Reduced Streamline LLPAs on FICO<600 Give your business the boost it needs by working with your go-to-lender for those tough loans, including Streamlines! We’ve reduced LLPAs on FHA Streamlines and VA IRRRLs for FICO < 600. That means an even bigger reason to stop turning away clients who may have low FICO scores. PROGRAM HIGHLIGHTS FHA STREAMLINE No […]