Latest News Category: Bulletin

Topic included in Bulletin W13-058: Clarification provided regarding the selection of the correct property type for Manufactured Home Program in Pipeline Manager and Data Trac Download: Bulletin - W13-058 (PDF)

Topic included in Bulletin W13-057: Reminder, tax transcripts are required for all qualifying borrowers Loans that are closing on or after June 15, 2013 (Note date) tax transcripts are required Borrowers that have filed an extension the following is needed: Copy of cancelled check evidencing tax payments made to the IRS, and 2012 Tax Transcript […]

Topic included in Bulletin W13-054: Launch of Escrow Holdback Program Escrow Holdback Program available immediately for all CMS programs, except, Conventional Jumbo Program allows loans on properties where scheduled improvements/repairs are to be completed after the close of escrow There are various escrow holdback requirements for different programs, as well as limitations on the types […]

Topic included in Bulletin W13-053: FHA and VA guidelines have been updated and are effective Monday, June 3, 2013 Updates include: First Time Homebuyers – removal of all prior overlays FHA Streamline Refinance s- Maximum CLTV increased to 125% Non-Traditional credit allowed on FHA and VA Standard programs Added section regarding Insufficient Credit to matrices […]

Topic included in Bulletin W13-052: Launch of Manufactured Homes on FHA and VA Product Offerings Highlights of the program are: Availability on Standard FHA, FHA Streamline, Standard VA and VA IRRRLs Must be permanently affixed to the foundation and taxed as real property Property must be completed; proposed construction and under construction loans are not […]

Topic included in Bulletin W13-051: Update, additional counties now eligible for Individual Assistance in Illinois Complete list of counties: Bureau, Cook, Crawford, DeKalb, DuPage, Fulton, Grundy, Henderson, Kane, Kendall, Knox, Lake, LaSalle, Livingston, Marshall, Mason, McDonough, McHenry, Peoria, Rock Island, Schuyler, Stark,Tazzewell, Will and Woodford For further guidance and loan property requirements refer to the […]

Topic included in Bulletin W13-050: New labels available in Data Trac Bulletin includes Label Name, Category and Documents to be Filed Under Effective immediately Download: Bulletin - W13-050 (PDF)

Bulletin W13-049 - FEMA Disaster Declaration for Oklahoma Topic included in Bulletin W13-049: The Underwriting Matrix has been updated Updates include items for: District of Columbia New Mexico Maryland Oklahoma New Hampshire New York Texas Tennessee West Virginia The updated matrix has been posted to the Intranet Download: Bulletin - W13-049 (PDF)

Topic included in Bulletin W13-048: The following counties in Oklahoma have been declared a disaster by FEMA: Cleveland Lincoln McClain Oklahoma Pottawatomie Additional guidance and loan property requirements are available in the CMS Declared Disaster Policy which is available on the Intranet Download: Bulletin - W13-048 (PDF)

Carrington Mortgage is pushing back on the market with a reduction in FHA price adjustments, effective now. Already in Pipeline Manager, submit a loan today. FHA Credit Adjustments: FICO 620-639, Reduced 75bps to now, 100bps FICO 600-619 Reduced 125bps to now, 150bps Get notified of promotions and important information, join our email list. Along with the addition […]