Latest News Category: Bulletin

Topic included in Bulletin W13-106: CMS is closed Monday, September 2, 2013 in observance of Labor Day, which is a Federal Holiday Due to the upcoming holiday the Lock Desk will be closing early on Friday, August 30, 2013 at 2:00 PM PST and will be closed on Monday, September 2, 2013 Normal Lock hours […]

On Monday, September 2, 2013, Carrington Mortgage Services will be closed in celebration of Labor Day. The Carrington lock desk will close on Friday, August 30, 2013, at 2 PM PST, be closed throughout the holiday weekend, and will resume normal hours again on Tuesday, September 3, 2013.

Bulletin W13-105 - Update, CMS Approved Credit Providers Topic included in Bulletin W13-105: Added Credit Information Providers: CBA Credit Information Systems Equidata, Inc NCO Credit One Source Credit Bureau Strategic Information Resources, Inc SARMA Credit Facts Services is no longer an approved credit provider All CMS approved credit providers are available for both Fannie Mae […]

Topic included in Bulletin W13-102: The following Policies and Procedures have been updated in July 2013: VAIRRRL AVM Ordering Process Appraisal Management Policy Hazard Insurance Policy Exception Request Policy Quality Control Suspense Policy MLD Travel & Expense Policy Bulletin notes each update for the Policy and or Procedure Updated Policies and Procedures published on the […]

Topic included in Bulletin W13-104: CMS announces the addition of the Jumbo Preferred program to our product offerings Highlights of the program include: Available for Purchase and Rate/Term Refinance transactions 30 and 15 Year Fixed Rate 5/1 and 7/1 ARMs available Maximum LTV/CLTV is 80%, subject to Market Classifications Minimum credit score of 720 DTI […]

Topic included in Bulletin W13-101: CMS announces the addition of the Jumbo Preferred program to our product offerings Highlights of the program include: Available for Purchase and Rate/Term Refinance transactions 30 and 15 Year Fixed Rate 5/1 and 7/1 ARMs available Maximum LTV/CLTV is 80%, subject to Market Classifications Minimum credit score of 720 DTI […]

Topic included in Bulletin W13-100: On August 15, 2013, FHA issued three Mortgagee Letters revising their stance on three credit topics: Mortgagee Letter 2013-24, Handling of Collections and Disputed Accounts Mortgagee Letter 2013-25, Collections and Disputed Accounts – TOTAL Mortgage Scorecard User Guide Mortgagee Letter 2013-26, Back to Work, Extenuating Circumstance for Economic Events Mortgagee […]

Topic included in Bulletin W13-097: Quality Control File Suspense Procedures published for MLD Procedure outlines how to manage files that have been suspended by the CMS Quality Control (QC) process Procedure provides the necessary steps to complete file suspense process Effective immediately Download: Bulletin - W13-097 (PDF)

Topic included in Bulletin W13-095: Government guidelines and matrices have been updated for FHA Standard and High Balance, VA Standard and High Balance and USDA Updates included for FHA Standard and High Balance and VA Standard and High Balance: Ratios, Collections and Sourcing Large Deposits See bulletin for details Updates on USDA: Added credit history […]

Topic included in Bulletin W13-093: New York’s Department of Financial Services (DFS) issued a TEMPORARY ORDER relating to the determination of thresholds for Subprime Home Loans Doc Magic has temporarily programed their system to calculate the revised New York Subprime Home Loan APR rules.  WARNINGS  will be displayed if the system determines that the loan […]