Latest News Category: News

Last Week in Review: Goldilocks Scenario for Housing Continues... The housing market is enjoying a great 2019 and the good times are poised to continue. We are seeing home price gains slow to a healthier level and at an equilibrium with wage growth. Consumer and business confidence remain at multi-decade highs, unemployment rates are at 51-year […]

This past week financial markets around the globe traded in a bit of a calm sideways pattern ahead of arguably the most important economic event of 2019 -- the US/China trade talks at the G20 meeting. Depending on when you read this newsletter, the headlines may already be out as talks between President Trump and […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Thursday, July 4, 2019 for Independence Day, which is a Federal Holiday and also Friday July 5, 2019 for a Company Holiday. In addition, the lock desk will close early (10:00 AM PST) on Wednesday, July 3, 2019. Normal lock hours will resume […]

Big Pricing Improvement with our Non-QM Loan Programs The team at Carrington Mortgage Services is extremely excited to announce some big changes to our Non-QM pricing: Carrington Flexible Advantagesm: LLPA's improved .25% (Full Doc and lower FICO loans) - see the matrix Carrington Flexible Advantage PLUS: Base price improved .375% - across the board - […]

Overview Effective Tuesday, June 25, 2019, all VA IRRRL’s submitted to Carrington Mortgage Services, LLC (CMS) must have a 36 month or less recoupment of fees.  This applies to all VA IRRRL’s regardless of any other benefits to the borrower.  Specifically, loans with term reductions and payments going up are now ineligible for an IRRRL. […]

Last Week in Review: Rate cuts are coming   This past week the Federal Reserve, aka "The Fed", held their June meeting and as expected, left rates unchanged. However, they said some key things which helped both Stocks and Bonds move nicely higher, with rates touching the best levels in 21 months. The Fed removed […]

Last Week in Review: The rate decline stalls What a difference a month makes. In May, stocks fell sharply, and interest rates declined each week. June has been a different story. The Fed has signaled rate cuts are likely coming. Stocks have been rallying higher, and the decline in interest rates has stalled. The Fed can't […]

Overview To confirm the value determination for Carrington Advantage Product (CFA, CFA Plus, and Investor Advantage) loans with amounts of $1 Million and greater, effective June 17, 2019, Carrington Mortgage Services, LLC (CMS) will implement the following new appraisal requirements.  These requirements apply for all loans received in Loan Set-Up (LSU) on and after the […]

Last Week in Review: Fed cuts and home loan rates For the sixth consecutive week home loan rates declined, once again fueled by the ongoing trade tensions between the US and China. However, the decline in rates was halted on the notion the Fed is likely to CUT rates soon. Huh? That's right -- a couple of Federal Reserve […]

EFFECTIVE JUNE 17, 2019 As a reminder, in an effort to improve our services, Carrington Mortgage Services, LLC will transition to lender disclosed initial disclosure packages on new loan applications submitted on or after June 17th 2019. At that time, we will no longer be able to accept broker disclosed loan packages. With this change, […]