Latest News Category: News

Experience in credit management, underwriting and servicing make Carrington the go-to resource for credit-challenged borrowers – and the mortgage brokers and real estate agents who support them MARCH 20, 2014 – SANTA ANA, CA – Carrington Mortgage Services, LLC (Carrington) today announced plans to further sharpen its focus on reaching and serving “underserved” borrowers (typically […]

Locking Carrington Loans Under the New QM Guidelines IMPORTANT: When locking loans with submission dates of 1/10/2014 or later,  the CMS underwriting fee is now included in your QM points and fees test (3% Cap rule).   If you wish to have the CMS underwriting fee excluded from your points and fees test, Carrington will […]

Carrington is closed on December 24, 25 and January 1 The Carrington lock desk will be closed at 10:30 AM PST on Christmas Eve.     Carrington Mortgage Services Lock Desk     Tues, Dec 24, 2013 Closed Closes 10:30 AM PST     Wed, Dec 25, 2013 Closed Closed     Tues, Dec 31, […]

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Important: All loans with DU 9.0 findings must be submitted to CMS Underwriting no later than December 1, 2013 Fannie Mae's Desktop Underwriter was updated to 9.1, not allowing LTVs > 95% This update excludes DU Refi Plus and HomePath DU findings ran under Version 9.0 that have expired require a new DU using 9.1 […]

As other lenders exit the business, Carrington increases its commitment to wholesale lending with an expanded geographic reach, wide array of products and faster processing times NOVEMBER 21, 2013 – SANTA ANA, CA – The Wholesale Lending Division of Carrington Mortgage Services, LLC (Carrington) today announced that it has expanded its coverage in the Southeast, […]

All Conventional loans funded on and after Thursday, November 1, 2013, must include Tax Transcripts and SSN.  Note, that this includes loans that have funded into the month

New program enables banks and credit unions to offer their customers a wider range of lending options while simultaneously mitigating risk  OCTOBER 30, 2013 – SANTA ANA, CA – The Wholesale Lending Division of Carrington Mortgage Services, LLC (Carrington) today announced that it has expanded its offering to include banks and credit unions as approved […]

Everyone knows about mortgage lenders from their ads and websites, but what about their classrooms and courses? Do educational differences impact borrowers, loan officers and even other lenders? "You bet," said Lori Grigg, executive vice president of human resources with Carrington Mortgage Holdings, LLC. "The lending system today is completely different from the system we […]

As we continue monitoring the government shutdown and adapting our operations to the changing environment.  Carrington is now allowing 1099 and Self Employed Borrowers are eligible to close with alternate documentation in lieu of transcript verification. Self Employed Borrowers require 2 years signed taxes Recap of modifications and notices: Conventional Loan Programs Carrington Mortgage Services, […]