Latest News Category: News

Last Week in Review: The US economy remains "durable" Good news is typically bad news for Bonds and home loan rates. That has not been the trend of late, and certainly not this past week. Durable Goods Orders is a report which shows buying demand for products with a life cycle beyond 4 years -- think […]

Join us to learn why FHA Manual UW is even more important after recent DU TOTAL Scorecard Updates. During this webinar we will cover: What factors in the file can trigger a downgrade to Manual Underwrite What Non-Traditional Credit options are available for borrowers without a credit score What are Compensating Factors, and how can […]

In an effort to better serve our broker partners, Carrington Mortgage has created a Marketing Resouces center in brokerIQ for approved brokers. The materials available include flyers in PDF format that are customizable with your name, logo, contact information and disclaimers. The flyers can be printed and/or emailed to your prospective borrowers. Please browse the page […]

Last Week in Review: Good times continue Initial Jobless Claims is a weekly report that tracks how many people have filed for unemployment benefits. It is both a solid gauge on the state of the labor market and economy, and a leading indicator on what to expect in the months ahead. So, what are Initial Jobless […]

Overview In observance of Good Friday, the Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Friday, April 19, 2019. Normal Lock Desk hours will resume on Monday, April 22, 2019. As a reminder, pursuant to the Lock Policy all lock extensions must be requested prior to expiration. If a lock expires on Friday, […]

Last Week in Review: 10 Reasons for housing to celebrate Spring is the peak home buying season for many parts of the country. After years of softer home sale activity – thanks to low housing inventory, affordability issues, and more – this Spring home buying season could prove to be one of the best in years. […]

This past week we saw mortgage rates experience their largest one-week decline in 10 years!!! What caused the sharp decline in home loan rates? Recessionary fears, and the likelihood the Fed's next move on rates may be a cut and as soon as this year. The Treasury's Two-Month Bill yielded 2.40% this past week and the […]

On March 15, 2019, we surveyed our broker community to find out more about their media consumption habits. 116 people responded and these are the results. We think they are very interesting and we hope you do too.

Last Week in Review: Thank you Jerome Powell The monetary authority of the United States, the Federal Reserve, meets 8 times a year to discuss the economy and adjust monetary policy to promote maximum employment and maintain price stability (inflation). The Fed, led by Chairman Jerome Powell, met this past Wednesday and decided to leave the […]

Overview Over the past several years FHA has seen a continued increase in certain higher-risk credit characteristics in mortgages it insures, including an increase in cash out refinances and mortgages with high debt-to-income (DTI) ratios, a decrease in average borrower credit scores and an increasing concentration of credit scores less than 640 combined with DTI […]