Latest News Category: News

Last Week in Review: Fed Speak Shakes Markets Home loan rates remain near historic lows and have stabilized, thanks mainly to the Federal Reserve, as the central bank continues to purchase mortgage-backed securities on a daily basis. The Fed also helped rates this past week in another way, but it may have been unintentional. Fed […]

Last Week in Review: Oversupply of Bonds and Unemployment One week after home loan rates failed to improve further in the face of multiple Bond-friendly stories, such as low inflation, high unemployment claims, and the Fed's continued commitment to purchase Bonds, we watched home loan rates tick up this past week. Why? Oversupply. The U.S. […]

Overview Effective May 11, 2020, the Wholesale/Correspondent lock policy will allow a 60-day lock at the Approval milestone regardless of whether the appraisal has been received. There is no longer an option for a 45-day lock term. See updated Minimum Lock Term table below. Revised Lock Policy Encompass and Optimal Blue will enforce these requirements. […]

We are doing all we can to provide an exceptionally high level of service during this unprecedented time, so that you can close every loan as swiftly as possible. To better serve you and eliminate delays, we’ve put together a list of tips to help get your loan closed quickly and smoothly.   All New […]

Overview The Lock Desk will be closed on Monday, May 25, 2020 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, May 26, 2020. Additionally, the Lock Desk will close early on Friday, May 22, 2020 at 11:00 A.M. PST due to the early close of the financial markets. […]

Big Rate Reduction + Drastic Reduction in LLPAs Effective immediately, Carrington Mortgage has improved pricing and reduced LLPAs on FHA, VA & USDA products. In these ever-changing times, you can count on Carrington to consistently help drive your success. Carrington. Your one "constant" for... Options for FICOs as low as 500 Manual underwriting expertise Financing […]

Last Week in Review: Is This the Bottom? Home loan rates continue to hover near all-time lows, but there are three reasons why they should have improved but didn't. Let's take a look at some of the "Bond-friendly" news from this week that was unable to push mortgage-backed security (MBS) prices higher and home loan rates […]

Last Week in Review: Stabilization in the MBS Market One of the major effects of the coronavirus was the enormous destabilization of the mortgage-backed securities (MBS) market back in mid-March. MBS pricing and trading activity determine home loan rates, so a big and fast solution was necessary. Thankfully, the Federal Reserve quickly came to the rescue […]

Last Week in Review: The Unemployment Line is Growing The leading indicator on the health of the job market is the Initial Jobless Claims report, which essentially tells us the length of the unemployment line. And that line just grew. Over the past four weeks, approximately 22 million people have filed for unemployment benefits, erasing nearly […]

Last Week in Review: Coronavirus Fallout to Hit Homeowners The Coronavirus has impacted millions of Americans across the country due to job loss and furloughs making it difficult, and sometimes impossible, for homeowners to make their mortgage payments. The U.S. government has stepped in to offer homeowners financial relief during this unprecedented time with the Coronavirus […]