Announcements

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following recent guideline enhancements for the VA loan product. Please note: Substantial changes have been made to the guidelines to align with recent VA Guidance and are summarized below. Refer to the CMS VA Underwriting Guidelines for detailed information. VA Guidelines Topic Updated Requirements […]

Overview The VA has implemented changes to ensure Veterans’ funding fee exemption information is up-to-date at the time of closing to avoid incorrect charges to exempt Veterans. Lenders may not advise Veteran borrowers who believe they are exempt from paying the funding fee to close on a loan without first establishing the borrower’s funding fee […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce that our approved document vendor, Doc Magic, has completed an enhancement to their document library that now allows Correspondent Sellers to select Carrington as the Investor when drawing closing documents. DocMagic is a leading provider of fully-compliant loan document preparation solutions. Integrating Carrington’s loan programs […]

Overview Due to severe winter storms, snowstorms, and flooding in South Dakota, FEMA has declared the following counties a disaster. Updated county is shown in bold. Incident Period: March 13, 2019 – April 26, 2019 State FEMA Disaster Declaration Counties South Dakota June 7, 2019 Bennett, Bon Homme, Charles Mix, Cheyenne River Indian Reservation, Dewey, Hutchinson, Jackson, […]

Overview Due to severe storms, straight-line winds, tornadoes, and flooding in Oklahoma, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: May 07, 2019 to June 9, 2019 State FEMA Disaster Declaration Counties Oklahoma June 1, 2019 Alfalfa, Canadian, Cherokee, Craig, Creek, Delaware, Garfield, Kay, Kingfisher, Le Flore, Logan, Mayes, […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Thursday, July 4, 2019 for Independence Day, which is a Federal Holiday and also Friday July 5, 2019 for a Carrington Company Holiday. In addition, the lock desk will close early (10:00 AM PST) on Wednesday, July 3, 2019. Normal lock hours will […]

Overview Effective Tuesday, June 25, 2019, all VA IRRRL’s submitted to Carrington Mortgage Services, LLC (CMS) must have a 36 month or less recoupment of fees.  This applies to all VA IRRRL’s regardless of any other benefits to the borrower.  Specifically, loans with term reductions and payments going up are now ineligible for an IRRRL. […]

Overview Due to severe storms, straight-line winds, tornadoes, flooding, landslides, and mudslides in Ohio, FEMA has declared the following counties a disaster. Incident Period: May 27, 2019 – May 29, 2019 State FEMA Disaster Declaration Counties Ohio June 18, 2019 Auglaize, Darke, Greene, Hocking, Mercer, Miami, Montgomery, Muskingum, Perry, and Pickaway Please note: If an appraisal was […]

Overview Due to severe storms, straight-line winds, tornadoes, and flooding in Oklahoma, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: May 07, 2019 to June 9, 2019 State FEMA Disaster Declaration Counties Oklahoma June 1, 2019 Canadian, Cherokee, Creek, Delaware, Kay, Le Flore, Logan, Mayes, Muskogee, Noble, […]

Overview Due to severe storms and flooding in Arkansas, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: May 21, 2019 and continuing State FEMA Disaster Declaration Counties Arkansas June 8, 2019 Arkansas, Conway, Crawford, Desha, Faulkner, Jefferson, Logan, Perry, Pope, Pulaski, Sebastian, and Yell Please note: If […]