Announcements

Overview Due to recent federal tax law changes that are effective for the 2018 tax year, unreimbursed employee business expenses can no longer be claimed for a tax deduction. In prior years, IRS Form 2106: Employee Business Expenses was a tax form used to validate employees’ deductions for ordinary and necessary expenses related to their […]

Overview Due to severe winter storms, straight-line winds, and flooding in Nebraska, FEMA has declared the following counties a disaster. Updated counties are shown in bold. Incident Period: March 9, 2019 Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required. If an appraisal was […]

Overview In observance of Good Friday, the Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Friday, April 19, 2019. Normal Lock Desk hours will resume on Monday, April 22, 2019. As a reminder, pursuant to CMS Lock Policy all lock extensions must be requested prior to expiration. If a lock expires on Friday, […]

Correspondent Announcement Updated FEMA Disaster Declaration for Nebraska April 1 2019 Corr19-0023 Overview Due to severe winter storms, straight-line winds, and flooding in Nebraska, FEMA has declared the following counties a disaster. Updated counties are shown in bold. Incident Period: March 9, 2019 State FEMA Disaster Declaration Counties Nebraska March 21, 2019 Boone, Buffalo, Butler, […]

Overview The Carrington Mortgage Services, LLC (CMS) underwriting guidelines have been revised with the following changes for the Carrington Advantage products (CFA, CFA Plus, and Investor Advantage): Carrington Flexible Advantage Guidelines Old Requirements Updated Requirements New - Higher Priced Mortgage Loans (HPML) A higher-priced mortgage loan (HPML) is a closed-end consumer credit transaction secured by […]

Overview Due to severe storms and flooding in Iowa, FEMA has declared the following counties a disaster. Incident Period: March 12, 2019 Please note If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required. If an appraisal was not required due to a property inspection waiver or […]

Overview Due to severe winter storms, straight-line winds, and flooding in Nebraska, FEMA has declared the following counties a disaster. Incident Period: March 9, 2019 Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required. If an appraisal was not required due to a property […]

Overview Over the past several years FHA has seen a continued increase in certain higher-risk credit characteristics in mortgages it insures, including an increase in cash out refinances and mortgages with high debt-to-income (DTI) ratios, a decrease in average borrower credit scores and an increasing concentration of credit scores less than 640 combined with DTI […]

Overview Non-Borrowing Spouse credit history is required for FHA, VA, and USDA full doc loans when the subject property is located in a Community Property State. When credit history is required for a Non-Borrowing Spouse in one of the Community Property States listed below, Carrington Mortgage Services, LLC will require a copy of the Non-Borrowing […]

Overview Carrington Mortgage Services is pleased to announce new guidelines to make documenting business bank account ownership more straightforward and reduce exceptions for Carrington Flexible Advantage (CFA and CFA Plus) Bank Statement loans. Old Requirements New Requirements All parties listed on each bank account must be included as borrowers on the loan. If the borrower […]