Company News

The Lock Desk at Carrington Mortgage Services will be closed Monday, February 15, 2016 for Presidents Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, February 16, 2016.
Carrington Mortgage Services (CMS) offices will be open normal business hours.
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, February 15, 2016 cannot be included in the rescission period for refinance
• Monday, February 15, 2016 cannot be included in the seven (7) business day waiting period between the date the initial TIL was provided to consummation
• When re-disclosure of the TIL is required, Monday, February 16, 2016 cannot be included in the three (3) day business waiting period between the date the revised TIL 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 will be closed Monday, January 18, 2016 in observance of Martin Luther King Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, January 19, 2016.
Carrington Mortgage Services (CMS) offices will be open normal business hours.
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 18, 2016 cannot be included in the rescission period for refinance
• Monday, January 18, 2016 cannot be included in the seven (7) business day waiting period between the date the initial TIL was provided to consummation
• When re-disclosure of the TIL is required, Monday, January 18, 2016 cannot be included in the three (3) day business waiting period between the date the revised TIL was provided to the borrower and the consummation of the loan

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

Carrington Mortgage Services will be closed:

• Thursday, December 24 and Friday, December 25, 2015 for the Christmas holiday
• Friday, January 1, 2016 for New Year’s Day.

December 25, 2015 and January 1, 2016 are Federal holidays.
The Lock Desk will be closing at 11:00 AM PST on Thursday, December 31, 2015. Normal lock hours will resume on Monday, January 4, 2016.
Locks that expire on the holidays will automatically roll to the next business day.
There are important disclosure considerations associated with the holidays:

• Friday, December 25, 2016 and Friday January 1, 2016 cannot be included in the rescission period for refinances.
• Friday, December 25, 2015 and Friday, January 1, 2016 cannot be included in the seven (7) business day waiting period between the date the initial TIL was provided to consummation.
• When re-disclosure of the TIL is required, December 25, 2015 and January 1, 2016 cannot be included in the three (3) day business waiting period between the date the revised TIL was provided to the borrower and the consummation of the loan

Ellie Mae has posted a notification regarding Pipeline Manager issues. They have identified a TPO Log In issue with clients using Internet Explorer 11. Users may experience the Log In page becoming un-responsive and may potentially hang the browser session. The suggested workaround is to use Internet Explorer 10, a prior version of Internet Explorer, or a different browser completely. I.e., Chrome or Firefox.

Thanksgiving
Carrington Mortgage Services, LLC (CMS) will be closed 11/26/2015 and 11/27/2015 for the Thanksgiving holiday.
The Lock Desk will be closing at 2:00 PM Pacific Time on Wednesday, November 25, 2015. Normal lock hours will resume on Monday, November 30, 2015.
As a reminder, pursuant to the Lock Policy all lock extensions need to be requested prior to expiration. In addition there are some important disclosure considerations associated with the holiday:

• Thursday, November 26, 2015 cannot be included in the rescission period for refinances
• Thursday, November 26, 2015 cannot be included in the seven (7) business day waiting period between the dates the initial TIL or LE, as applicable was provided to consummation
• When re-disclosure of the TIL or LE is required, November 26, 2015 cannot be included in the three (3) day business waiting period between the date the revised TIL or 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, Wholesale Lending Division, will be closed Monday, October 12, 2015 in observance of Columbus Day, which is a Federal Holiday.
Normal Lock Desk hours will resume on Tuesday, October 13, 2015. Carrington Mortgage Services (CMS) offices will be open normal business hours on Monday, October 12th, 2015.
As a reminder, pursuant to the Lock Desk Policy all lock extensions need to be requested prior to their expiration.
In addition, there are some important disclosure considerations associated with the holiday:

• Monday, October 12, 2015 cannot be included in the rescission period for refinance.
• Monday, October 12, 2015 cannot be included in the seven (7) day business day waiting period between the date the initial TIL was provided to consummation.
• When re-disclosure of the TIL is required,Monday, October 12, 2015 cannot be included in the three (3) day business waiting period between the date the revised TIL was provided to the borrower and the consummation of the loan.

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

Encompass will not be available all day Saturday October 3^rd through Sunday October 4^th and Carrington personnel will not be available in centers to work on files.
Pipeline Manager will be available to accept submissions and new files
 

Carrington Mortgage Services, LLC is pleased to announce the addition of a new appraisal vendor; Appraisal Links effective September 11, 2015.  Appraisal Links is a national company that utilizes one of the nation's largest networks of certified appraisers.
You can access the Appraisal Links AMC at the company’s website Appraisal Links.  Credentials for current Retail Associates will be created and emailed to each Associate directly from Appraisal Links.  New Associates will have credentials issued by MLD Administration at the time of onboarding.
As a reminder, the process for applicants to pay for the appraisal upfront is as follows:

• The Applicant must provide their personal credit card information to the approved AMC directly.
• All CMS associates are prohibited from collecting the applicant’s credit card information when ordering an appraisal under any circumstances.
• CMS may never have the applicant’s personal credit card information on file.

For loans where the applicant pays for the appraisal upfront, the appraisal request may only be submitted with the following AMC’s:

• Solution Star
• Nationwide
• Streetlinks
• ServiceLink
• Appraisal Links

Refer to the Retail Appraisal Management Procedures for detailed instructions regarding ordering appraisals.

ANAHEIM, Calif., Aug. 4, 2015 /PRNewswire/ -- Carrington Mortgage Services, LLC (Carrington) today announced that the company's "Serving the Underserved" initiative launched in 2014 has now aided over 10,000 borrowers with their home financing. Driven by Carrington's commitment to create a more transparent and manageable home loan process, the program offers simplified loan offerings for first-time home buyers, many of whom have a FICO credit score below 640. As of July 2015, Carrington has originated over $1.8 billion in home loans for borrowers with credit scores below 640. Fifty-seven percent of the home purchase loan originations were from first-time home buyers.  This growth aligns with a national trend reflected in the percentage of Federal Housing Administration loans originated for borrowers with credit scores below 640, which is up 125% in just two years.
"Our goal is to simplify the path to home ownership wherever feasible and demystify the complexity that often surrounds the loan process," said Carrington Mortgage Services Mortgage Lending Division Executive Vice President Ray Brousseau. "Our tailored programs help those who do not have sufficient cash on hand or may feel like their credit score isn't strong enough to fulfill their dream of homeownership."   … Read More on Yahoo Finance
 

Carrington Mortgage Services Wholesale Lending Division is now offering loans from 550 FICO to max credit for your clients on FHA, VA and USDA Purchase and Refinance Programs. Newly Expanded guidelines include manufactured housing, manual  underwriting and use of non-traditional credit.  Contact your Account Executive for details.