Latest News Category: Bulletin

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 […]

Carrington Mortgage has improved pricing 20bps on FHA Loans, purchase and refinance (including Streamline). Already in Pipeline Manager, submit a loan today. Expanded Guidelines on FHA Programs Just Released Get notified of promotions and important information, join our email list. FTHB (First Time Home Buyer), FHA Purchase: No overlays with DU Approve/Eligible Manufactured Housing, FHA Purchase and […]

Topic included in Bulletin W13-047: CMS will be closed on Monday, May 27, 2013 in observance of Memorial Day The Lock Desk will be closing early on Friday, May 24, 2013 at 10:00 AM PST and will be closed on Monday, May 27, 2013 Normal lock hours will resume on Tuesday, May 28, 2013 Important […]

Topic included in Bulletin W13-046: CMS has published an Adverse Action Policy Policy is effective Friday, May 17, 2013 Policy and Procedure can be found on the Intranet at, Mortgage/Lending/Policies and Procedures Download: Bulletin - W13-046 (PDF)

Topic included in Bulletin W13-045: Jumbo product guidelines updated and effective Monday, May 20, 2013 Updates include: Revised documentation requirements when using retirement funds for closing/or reserves Added HPML (Section 35) as ineligible for the Jumbo program Updates are posted to the Intranet and the website has been updated Download: Bulletin - W13-045 (PDF)

Topic included in Bulletin W13-044: Due to recent severe storms, straight-line winds and flooding in Illinois, FEMA has declared the following counties a disaster: Cook, DeKalb, DuPage, Fulton, Grundy, Kane, Kendall, Lake, LaSalle, McHenry and Will Refer to the CMS Declared Disaster Policy for further guidance and loan property requirements CMS Declared Disaster Policy posted […]

Topic included in Bulletin W13-043: CMS will accept hazard insurance policies that are underwritten by a state’s Fair Access to Insurance Requirements (FAIR) plan if it is the only coverage available CMS will also accept coverage through a state’s insurance plan if it is the only coverage available CMS will accept policies of an insurer […]

Topic included in Bulletin W13-042: New program available Monday, May 13, 2013; FHA $100 Down Payment Program Standard FHA guidelines apply to this program in addition to the following: Must be HUD REO Sales Agent must be HUD approved and sales contract must confirm transaction is $100 Down Payment Program Property must be appraised “as-is” […]

Topic included in Bulletin W13-041: West Virginia has been added as an approved state for Wholesale, effective Thursday, May 9, 2013 The following systems are ready for West Virginia: Data Trac Pipeline Manager DocuTech Comergence Optimal Blue State guides are available on the  Intranet The website will be updated Download: Bulletin - W13-041 (PDF)