Latest News Category: Bulletin

Topic included in Bulletin W13-130: Monday, October 14, 2013 is Columbus Day and is a Federal Holiday CMS is open on Monday, October 14, 2013; however, the Lock Desk will be closed Normal lock hours will resume on Tuesday, October 15, 2013 Locks that expire on Monday, October 14, 2013 must be extended prior to […]

Topic included in Bulletin W13-129: Maryland has recently enacted a statue which streamlines the subordination process Under certain circumstances it is not necessary to obtain a signed Subordination Agreement Overview provided regarding Maryland’s Automatic Subordination Rule Requirements/Restrictions Under the Maryland Statue DocuTech has been updated Maryland State Guide is in the process of being updated […]

Topic included in Bulletin W13-128: LPMI matrix has been updated Updates include: Added, requirement for all projects to meet Fannie Mae requirements Added, overlay for maximum concentration in Condo Project to 30% Updated, Condo Hotels are ineligible collateral Updated,  Minimum Borrower Investment requirements in the grid and in the Income/Asset section to reflect the following: […]

Topic included in Bulletin W13-126: Reminder, Initial Rate and Payment Change Dates for FHA and VA 5/1 ARM Loans Table for dates is included in the bulletin and can also be found on the Intranet or at: http://carringtonhome.corp.int/Corporate%20Document%20Library/FHA%20VA%205-1%20ARM%20Interest%20Rate%20Change%20Dates.pdf Download: Bulletin - W13-126 (PDF)

Topic included in Bulletin W13-125: The Non-Public Personal Information (NPPI) Requirements & Procedures for Associates Working Off-Site have been published Procedure documents when employees, independent contractors, consultants and temporary employees of CMS, MLD are working at off-site locations Procedures include: Customer Information Confidentiality Off-Suite NPPI Procedure Associate Off-Site Work Approval Off-Site Employee and Company Issued […]

Topic included in Bulletin W13-123: New Hampshire regulations now require that the Tradeoff Table found on page 3 of the Good Faith Estimate be completed when the originating company is not funding the loan Effective immediately, all loan located in the state of New Hampshire, the broker’s Good Faith Estimate must have the Tradeoff Table […]

Topic included in Bulletin W13-124: MLD has published an Account Based System Procedure The Account Based System Procedure includes the following topics: Objective Account Types Protected Broker Definition Account Availability Territory Management Shared Accounts New Accounts Executive Broker Protection Start Date Protection Conflicts/Resolution Corporate Branches Terminations Training will be held the week of October 1, […]

Topic included in Bulletin W13-122: Clarification provided regarding loans originated in Illinois and specifically Cook, Kane, Peoria and Will counties Owner occupied residential 1-4 loans originated in Cook Kane, Peoria and Will counties in Illinois require a Certification of Compliance to be compliant with the Illinois Anti-Predatory regulations The following property types are exempt: Non-Owner […]

Topic included in Bulletin W13-121: Due to recent severe storms, flooding, landslides and mudslides in Colorado, FEMA has declared the following counties a disaster: Adams Arapahoe Boulder Broomfield Clear Creek El Paso Jefferson Larimer Logan Weld Guidance and loan property requirements are published in the CMS Declared Disaster Policy which is found on the Intranet […]

Topic included in Bulletin W13-119: Minimum credit score on Conventional Conforming High Balance loans has been lowered to 620 As a result of this update, loans with credit scores < 660 must be priced manually Refer to the CMS Lock Policy for the required information when submitting a manual lock Manual locks must be sent […]