Latest News Category: Bulletin

Topic included in Bulletin W13-029: CoreLogic product ValuePoint4 (VP4) is only AVM option for VA IRRRLs CMS will rely on the value as stated in the VP4 for qualification purposes If the VP4 shows “not available in this county” or “failure”, the Broker can submit the file to CMS and the CMS Appraisal Review Department […]

Topic included in Bulletin W13-028: FHA Conforming and High Balance Matrix has been updated with the changes announced in Mortgagee Letter 2013-05, with Case Numbers assigned on and after April 1, 2013 Changes are: All files require an AUS finding.  Files receiving a Refer/Eligible for credit score less than 620 and DTI greater than 43% […]

Topic included in Bulletin W13-027: CMS pleased to announce the addition of a new Jumbo program! Some highlights of the program are: Loan Amounts up to $2mm Fully Delegated to $2mm Manual Underwrite - No AUS required 41% DTI Gift funds allowed for Down Payment and Closing Costs (Borrower required 5% contribution) Business funds allowed […]

Topic included in Bulletin W13-026: In observance of Good Friday, Thursday, March 28, 2013 the Lock Desk hours will be 7:00 AM PST to 1:00 PM PST The Lock Desk will be closed on Friday, March 29, 2013 Normal Lock Desk hours will resume on Monday, April 29, 2013 Issues related to locks should be […]

Topic included in Bulletin W13-024: DU Refi Plus Matrix updated with a Program Code section Program Code section supports Optimal Blue Matrix published on Intranet at Mortgage Services/Mortgage Lending/Guidelines and Bulletins/CMS Product Matrices, or at: http://carringtonhome.corp.int/Corporate%20Document%20Library/CMS%20DU%20REFI%20PLUS%20Matrix.pdf Wholesale website in process of being updated Download: Bulletin - W13-024 (PDF)

Topic included in Bulletin W13-023: Effective Monday, March 25, 2013 Appraisal Management Solutions, LLC and HVCC Appraisal Ordering will no longer be an approved AMC for CMS Appraisals ordered after Monday, March 25, 2013 from Appraisal Management Solutions, LLC and HVCC Appraisal Ordering will not be accepted CMS approved AMC Companies include: Clear Capital Appraisals […]

Notice to our broker community.  Carrington Mortgage Services' partner in broker signup, approval, and recertification has closed their services via their site starting Friday, 3/15 through Sunday 3/17 and will resume operations Monday, 3/18 during normal business hours. If you require assistance, please contact your Account Executive for more information.

Topic included in Bulletin W13-022: Upcoming changes to the Mutual Mortgage Insurance Fund FHA is: Revising the period of assessing the annual MIP, Removing the exemption from the annual MIP for loans with terms of 15 years or less and LTV ratios of less than or equal to 78% at origination; and Increasing the annual […]

Topic included in Bulletin W13-019: Reminder, for payment questions, coupons, billing, impounds and general servicing questions, contact Customer Service at 800-561-4567 The Customer Service Department will be able to direct our customers to the appropriate Associate regarding their questions Download: Bulletin - W13-019 (PDF)

Topic included in Bulletin W13-018: Oklahoma has been added as an approved state for the Wholesale channel Effective Friday, March 1, 2013 The following systems are ready: Data Trac Pipeline Manager DocuTech Comergence Optimal Blue Oklahoma state guide can be found on the Intranet at Mortgage Services/Mortgage Lending/Policies and Procedures/State Guides Download: Bulletin - W13-018 […]