Latest News Category: Bulletin

Topic included in Bulletin W13-068: Underwriting Policy describes the responsibilities and requirements of the Carrington Mortgage Services, LLC, (CMS) Mortgage Lending Division Underwriter when reviewing and underwriting mortgage loan applications Underwriting Policy is published on the Intranet or:  http://carringtonhome.corp.int/Corporate%20Document%20Library/Underwriting%20Policy.pdf Policy is effective immediately Download: Bulletin - W13-068 (PDF)

Topic included in Bulletin W13-067: Mortgage Lending has developed and follows credit parameters that limit the credit risk to the borrower as well as Carrington Mortgage Services, LLC (CMS) These parameters are defined through the products offered, the underwriting guidelines and all applicable laws, rules and regulations Credit Policy is published on the Intranet or […]

Topic included in Bulletin W13-074: CMS must deliver the Notice of Expiration of Lock to each individual applicant The New York Notice of Expiration of Lock, How-to-Guide is published on the Intranet, or: http://carringtonhome.corp.int/mortgage/lending/Mortgage%20Lending%20Documents/Training%20Materials/User%20Guides%20and%20Job%20Aids/New%20York%20Notice%20of%20Expiration%20of%20Lock%20How-To%20Guide.pdf This How-to-Guide details the steps necessary to access the file and how to send the notice within the required time frame […]

Topic included in Bulletin W13-072: CMS announces the addition of Informative Research as an approved credit provider, effective Monday, July 8, 2013 Complete list of credit providers is posted on the Intranet Credentials will be provided to all necessary Associates by Monday, July 8, 2013 Website will be updated and an announcement will be posted […]

Company’s wide array of products and faster turn times attract brokers, agents and borrowers JUNE 26, 2013 – SANTA ANA, CA – The Wholesale Lending Division of Carrington Mortgage Services, LLC (Carrington) today announced that it has expanded its coverage in the Northeast, adding a branch office in Rhode Island. This latest addition reflects the […]

Topic included in Bulletin W13-066: CMS is closed Thursday, July 4, 2013 in observance of Independence Day, which is a Federal Holiday Lock Desk will be closing early on Wednesday, July 3, 2013 at noon PST and will be closed on Thursday, July 4, 2013 Normal Lock hours will resume on Friday, July 5, 2013 […]

Topic included in Bulletin W13-059: Jumbo Matrix has been updated, effective immediately Updates include: State specific LTV/CLTV reduction for properties located in Arizona, Florida and Nevada has been retired.  The 5% LTV/CLTV reduction remains when the appraisal indicates a declining market in Neighborhood Section Housing Trends or 1004MC Median Comparable Sales Price Maximum cash-out has […]

Topic included in Bulletin W13-065: New Product Policy has been published Policy will unify the company’s approach when considering new products Policy requires the preparation of a Project Charter, Business Plan and change Management Document Effective Immediately Download: Bulletin - W13-065 (PDF)

Topic included in Bulletin W13-064: Re-Launch of LPMI Product Offering Effective Immediately Available on Conventional 30 year Conforming and Conventional High Balance Fixed Rate loans LPMI available for loans with LTVs exceeding 80%, under the following circumstances: Single Family Residence, Primary Resident or Second Home Maximum Loan Amount of $625,500 Maximum LTV of 95% Minimum […]

Topic included in Bulletin W13-063: Exception Policy and Procedure has been published Policy covers exception requests to credit, collateral, guidelines and pricing Underwriting exceptions will be handled by the Underwriter of record Exception Request Form required Exception Request Form is posted on the Intranet at: http://carringtonhome.corp.int/mortgage/lending/Mortgage%20Lending%20Documents/Forms%20and%20Checklists/Retail%20Exception%20Request%20Form.xl Manager approval is required Exception Request Form is sent […]