Latest News Category: News

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 […]

Last Week in Review: Liquidity Defined This past week, thanks to the Federal Reserve, home loan rates declined. The high uncertainty around the coronavirus and its impact on homeowners and mortgage payments created a dire need for liquidity in the mortgage-backed security (MBS) market. This is where the Fed came to the rescue by providing […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority. As the Agencies provide additional Appraisal guidance, this bulletin will be updated and republished. FNMA […]

Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and we understand there may be concerns about its potential impact to our borrowers and loan originations. Our ability to continue to serve our customers is a top priority. As the Agencies provide additional guidance, this bulletin […]

Non-QM Update Carrington Mortgage Services remains committed to the Non-QM market as one of the key leaders in the industry. Unfortunately, we have to temporarily discontinue offering Non-QM loans due to current secondary market conditions. We’re happy to say that any approved loans that are locked will be honored through the remaining locked term. Unfortunately, […]