Company News

We want to send a big thank you to everyone who participated in the Road to Houston sweepstakes and helped make it a great success.
And a special congratulations to Joseph G. of Hesperia California! Joseph and a guest have won tickets and travel to Super Bowl LI at NRG Stadium in Houston Texas.
We hope you have a great time at that game Joseph!

The Lock Desk will be closed on Monday, January 16, 2017 for Martin Luther King Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 17, 2017.
Locks that expire on the holiday will automatically roll to the next business day. In addition there are some important disclosure considerations associated with the holiday:

• Monday, January 16, 2017 cannot be included in the rescission period for refinance transactions.
• Monday, January 16, 2017 cannot be included in the seven (7) business day waiting period between the between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan
• When re-disclosure of the LE is required, Monday, January 16, 2017 cannot be included in the three (3) day business waiting period between the date the revised LE was provided to the borrower and the consummation of the loan.

Issues related to locks should be sent via email to lockdesk@carringtonms.com.

During the holiday season Carrington Mortgage Services, LLC (CMS) will observe the following schedule:

• Friday, December 23, 2016 – MLD open regular business hours
• Monday, December 26, 2016 – Closed for the Christmas holiday
• Monday, January 2, 2017 – Closed for New Year’s Day holiday

The Lock Desk will be closed December 26, 2016 and January 2, 2017 which are Federal holidays. Due to the holidays, the Lock Desk will be closing early on Friday, December 23, 2016 and Friday, December 30, 2016 at 10:00 AM PST. Normal Lock Desk hours will resume December 27, 2016 and January 3, 2017.
Rate Locks that expire on the holidays will automatically roll to the next business day. In addition there are some important disclosure considerations associated with the holidays:

• Monday, December 26, 2016 and Monday January 2, 2017 cannot be included in the rescission period for refinances.
• Monday, December 26, 2016 and Monday January 2, 2017 cannot be included in the seven (7) business day waiting period between the between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan.
• When re-disclosure of the LE is required, Monday, December 26, 2016 and Monday January 2, 2017 cannot be included in the three (3) day business waiting period between the date the revised LE was provided to the borrower and the consummation of the loan.

Issues related to locks should be sent via email to lockdesk@carringtonms.com.

The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Thursday, November 24, 2016 and Friday, November 25, 2016 in observance of Thanksgiving, which is a federal holiday. Due to the holiday, the Lock Desk will be closing early on Wednesday, November 23, 2016 at 2:00 PM PST. Normal Lock Desk hours will resume on Monday, November 28, 2016.
Locks that expire on the holiday will automatically roll to the next business day. In addition there are some important disclosure considerations associated with the holiday:

• Thursday, November 24, 2016 cannot be included in the rescission period for refinance transactions.
• Thursday, November 24, 2016 cannot be included in the seven (7) business day waiting period between the between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan
• When re-disclosure of the LE is required, Thursday, November 24, 2016 cannot be included in the three (3) day business waiting period between the date the revised LE was provided to the borrower and the consummation of the loan.

Issues related to locks should be sent via email to lockdesk@carringtonms.com.

The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Friday, November 11, 2016 in observance of Veteran’s Day, which is a Federal Holiday.  Normal Lock Desk hours will resume on Monday, November 14, 2016.
Locks that expire on the holiday will automatically roll to the next business day.  In addition, there are some important disclosure considerations associated with the holiday:
·         Friday, November 11, 2016 cannot be included in the rescission period for refinances
·         Friday, November 11, 2016 cannot be included in the seven (7) day business day waiting period between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan
·         When re-disclosure of the LE is required, Friday, November 11, 2016 cannot be included in the three (3) day business waiting period between the date the revised LE was provided to the borrower and the consummation of the loan
Issues related to locks should be sent via email to lockdesk@carringtonms.com.

HUD recently revised the Addendum to Uniform Residential Loan Application (Form HUD 92900-A).  These revisions were made to provide further clarity to loan level certifications on the Addendum form.

Borrower Certification

On the new 92900-A, FHA borrowers must certify their occupancy at item #25-2.  Please make sure this is completed by the borrowers on the initial 92900-A.  This box must be completed for all loan types (refinance and purchase transactions) and not the VA box for occupancy when doing an FHA loan.

Although Carrington Mortgage Services, LLC (CMS) will be officially closed in observance of Memorial Day on Monday, May 30th; due to business needs there will be limited staffing in a good number of our departments.  Normal business hours will resume on Tuesday, May 31st.
The Lock Desk will stop taking requests on Friday May 27 after 10AM PST / 1PM EST and will be closed on Monday, May 30, 2016. Normal Lock Desk hours will resume on Tuesday, May 31, 2016.
Locks that expire on the holiday will automatically roll to the next business day.
In addition there are some important disclosure considerations associated with the holiday:
·         Monday, May 30, 2016 cannot be included in the rescission period for refinances
·         Monday, May 30, 2016 cannot be included in the seven (7) business day waiting period between the date the initial Loan Estimate (LE) was provided to the borrower and the consummation of the loan
·         When re-disclosure of the LE is required, Monday, May 30, 2016 cannot be included in the three (3) business day waiting period between the date the revised LE was provided to the borrower and the consummation of the loan
Issues related to locks should be sent via email to lockdesk@carringtonms.com.

For the upcoming holiday weekend:

• Thursday, March 24th, 2016 - Lock Desk hours will be 7:30 AM to 12:00 PM PST.
• Friday, March 25th, 2016 - In observance of Good Friday, the Lock Desk will be closed.
• Monday, March 28th, 2016 - Normal Lock Desk hours will resume.
  As a reminder, pursuant to the Lock Policy, all lock extensions must be requested prior to expiration. If a lock expires on Friday, March 25th, 2016, it will need to be extended no later than Thursday, March 24th, 2016.
  Issues related to locks should be sent via email to lockdesk@carringtonms.com