Announcements

Overview On January 20, 2021, HUD announced major changes to their guidelines for borrowers with Deferred Action for Childhood Arrivals (DACA) status. Individuals classified under DACA who are legally permitted to work in the U.S. are eligible to apply for mortgages backed by the FHA. These changes are effective immediately and apply to new loan […]

Overview As a reminder, Carrington Mortgage Services, LLC (CMS) has the Quick Pricer function in CorrIQ which allows correspondent sellers to enter loan scenarios to obtain pricing and view a list of qualifying loan programs. Please be advised that it is very important when pricing out FHA Streamline and VA IRRRL loans in CorrIQ that […]

Overview Effective for all loans purchased on and after February 1, 2021, Carrington Mortgage Services, LLC (CMS) will implement the following Correspondent fee schedule. The new CMS Underwriting Fees are highlighted in BLUE below: Loan Product Non-Delegated Fee Type Underwriting Flood Cert Tax Service Carrington Prime Advantage $750 $9 $85 Carrington Flexible Advantage (CFA/CFA+) $750 […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Monday, January 18, 2021 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 19, 2021. Rate Locks that expire on the holiday will automatically roll to the next business day.  In addition […]

Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Wednesday December 16, 2020; CMS will implement the following Carrington Advantage (Prime Advantage, Flexible Advantage Plus, Flexible Advantage and Investor Advantage) product underwriting updates (highlighted in blue).  Please note this is an abbreviated summary of the guideline changes. For additional program information, please review the […]

Overview During the holiday season the Carrington Mortgage Services, LLC (CMS) Lock Desk, will observe the following schedule: Thursday, December 24, 2020 – Closed for Christmas Eve Friday, December 25, 2020 – Closed for the Christmas holiday Thursday, December 31, 2020 – Close early for New Year’s Eve at 11:00 AM PST (early market closure […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk, will be closed Thursday, November 26, 2020 in observance of Thanksgiving, which is a federal holiday and also Friday, November 27, 2020 which is a CMS company holiday.  Due to the holiday, the Lock Desk will be closing early on Wednesday, November 25, 2020 at 11:00 […]

Overview Due to California wildfires, FEMA has declared the following counties a disaster. Updated counties are shown in bold. Incident Period: August 14, 2020 – Continuing State FEMA Disaster Declaration Counties California August 22, 2020 Butte, Lake, Lassen, Mendocino, Monterey, Napa, San Mateo, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Trinity, Tulare and Yolo Re-Inspection […]

Overview Due to Louisiana Hurricane Delta, FEMA has declared the following parishes a disaster. Updated counties are shown in bold. Incident Period: October 6, 2020 – October 10, 2020 State FEMA Disaster Declaration Parishes Louisiana October 16, 2020 Acadia, Beauregard, Calcasieu, Cameron,Jefferson Davis, Lafayette, Rapides, St. Landry,St. Martin Parish’s and Vermilion Re-Inspection by Product Type […]

Overview Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will be closed Wednesday, November 11, 2020 in observance of Veteran’s Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Thursday, November 12, 2020. Locks that expire on the holiday will automatically roll to the next business day.  In addition, […]