Latest News Category: News

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk, will be closed Thursday, November 28, 2019 in observance of Thanksgiving, which is a federal holiday.  Due to the holiday, the Lock Desk will be closing early on Friday, November 29, 2019 at 11:00 AM PST (early market closure of 2:00 PM EST).  Normal Lock Desk […]

Last Week in Review: The Definition of Goldilocks "Looking ahead, my colleagues and I see a sustained expansion of economic activity, a strong labor market, and inflation near our symmetric 2% objective as most likely." -- Fed Chairman Jerome Powell, 11/13/2019 This quote from our Fed Chair on Capitol Hill this past week was the definition […]

Last Week in Review: How Fast Rates Can Change Right now, the biggest news story to follow is the U.S. and China trade negotiations. This past week, home loans started inching higher but were "saved" momentarily midweek when reports came out suggesting a delay of a "phase one" trade deal signing. Remember that Bonds and home […]

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Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the Lock Desk has re-enabled the Auto-lock functionality. Effective immediately on Wholesale files, all rate lock extensions no longer require a written email request to be sent to the Lock Desk.  Broker Loan Officers now have the ability to submit Lock Extension requests directly in […]

Overview Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Monday, November 11, 2019 in observance of Veteran’s Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, November 12, 2019. Locks that expire on the holiday will automatically roll to the next business day.  In addition, there […]

Last Week in Review: Fed Takes Action This past week the Federal Reserve cut the Fed Funds Rate for the third time this year, by .25%. Along with the rate cut, the Fed released a statement that suggested a "pause" in further cuts, but stated they will be ready to act again should "slowing global conditions" […]

In an effort to make disclosing loans easier and faster, Carrington Mortgage Services, LLC will begin providing State Specific Disclosures as part of the lender disclosure package for all loans disclosed on or after November 1, 2019. Disclosure packages will be available in brokerIQ where you can download the disclosures to meet signature requirements. It […]

Last Week in Review: The Remedy for Higher Rates This past week home loan rates were essentially unchanged from the previous week, breaking a trend of higher rates since the beginning of October. Bonds hate good news and there is still plenty to go around: U.S./China trade dispute progress Brexit progress Corporate earnings remain positive, as […]

Last Week in Review: Optimism Hurts Rates This past week home loan rates ticked up, yet remain just above 3-year lows. Here are 3 reasons why: Solid corporate earnings and future positive guidance from many public companies were a pleasant surprise for many who were bracing for a far more disappointing outlook. As a result, Stocks […]