Latest News Category: News

Please review important changes to the FHA Streamline program. Starting Monday, September 17th, 2012: An AVM is required on all FHA Streamline loans with FICO scores less than 640. The AVM will be ordered by a Carrington Junior Underwriter early in the process and included in loan file at time of underwriting. The LTV of […]

The Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to increase loan guarantee fees (g-fee) that are charged. As a result, Carrington Mortgage Services will implement a change to our pricing structure for all Conforming Conventional (including High Balance products) loans. Timing for implementation: Effective immediately, new 45 and 60 day […]

Addition of Seasoned Mortgage Industry Executive to Drive Growth of Lending Business Carrington Mortgage Services (Carrington) today announced the addition of Lynn Halstead as vice president of wholesale operations to its Mortgage Lending Division senior management team. Lynn joins Carrington to drive its wholesale lending channel. "Lynn is exactly the kind of experienced, well-rounded executive […]

Monday September 3, 2012 is Labor Day and is a Federal Holiday. Carrington Mortgage Services and the Lock Desk will be closed. Carrington Mortgage Services will be closing early on Friday August 31, 2012 and the Lock Desk will be closing at 1:00 PST and will be closed on Monday September 3, 2012.

The Federal Housing Administration has eliminated their own new rule aimed at consumers with even fairly minor “collections debt.” The new rule, which would have gone into effect July 1, required potential borrowers to settle any disputed debts totaling $1,000 or more before the FHA would consider backing their mortgage. The rule originated as part […]

Now Through 6/10/2012 As announced in FHA ML 12-04—Effective for case numbers assigned on/after 6/11/12 for streamline refinance transactions of FHA loans endorsed on/before 5/31/09: Decrease to Up Front MIP: Up Front MIP = 0.01 of the base loan amount. Decrease to Annual MIP: Annual MIP = 55 bps, regardless of loan amount. Submit Early […]

Borrowers now need to resolve even minor disputes with their creditors before expecting the Federal Housing Administration to insure their loan. As of April 1, the FHA will no longer consider insuring a mortgage to any potential borrower with ongoing credit disputes totaling more than $1,000. Prior to the new rule, individual underwriters and lenders […]

Carrington Mortgage Services is now lending in Wisconsin, Minnesota, and North Carolina. Effective immediately, all loan programs are available for all eligible subject properties located in these states. See our loan programs for details. Brokers located in these states interested in becoming an approved Carrington partner should contact their Account Executive or new broker applicants […]

View our current FHA Streamline guidelines offering non credit qualifying and credit qualifying programs.  Contact your Account Executive for more information or view the loan program details,  click here NON CREDIT QUALIFYING* PRODUCT HIGHLIGHTS Total lender fees: $399 No appraisal required No income documentation required Mortgage history - no late payments in the last 12 […]