Latest News

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the market conditions that led to temporary suspensions of some lock terms and exception requirements have been resolved and effective Monday, June 22, 2020 CMS will resume following our normal rate lock policy. As a reminder CMS generally offers 15-day, 30-day, 45-day, and 60-day lock […]

Overview Effective June 19, 2020, Carrington Mortgage Services, LLC (CMS) will implement the following new mailing address for borrowers to send their payments: Carrington Mortgage Services, LLCP.O. Box 660586Dallas, TX 75266-0586 The CMS Correspondent Seller Guide is updated to reflect this new payment address The Correspondent Seller must ensure all Payment Letters and Servicing Transfer […]

Overview The VA requires that 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 exemption status. Updated […]

Overview Effective May 27, 2020 Carrington Mortgage Services, LLC (CMS) will offer a 60-day lock to sellers prior to loan submission when the loan has been registered in CorrrIQ. Loan Type Available Lock Terms Additional Requirements All Loan Types 60-Days Loan registered in CorrIQ 15-Days Loan must be Approved with All Conditions Submitted for final […]

Overview Due to severe storms, tornadoes and straight-line winds in South Carolina, FEMA has declared the following counties a disaster. The updated counties are shown in bold. Incident Period: April 12-13, 2020 State FEMA Disaster Declaration Counties South Carolina May 1, 2020 Aiken, Barnwell, Berkeley, Colleton, Hampton, Marlboro, Oconee,Orangeburg, and Pickens Please note: If an […]

Overview Due to severe storms, tornadoes, straight-line winds and flooding in Mississippi, FEMA has declared the following counties a disaster. The updated counties are shown in bold. Incident Period: April 12, 2020 State FEMA Disaster Declaration Counties Mississippi April 16, 2020 Clarke, Covington, Grenada, Jasper, Jefferson Davis, Jones, Lawrence, Panola and Walthall Please note: If […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed on Monday, May 25, 2020 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, May 26, 2020. Additionally, the CMS Lock Desk will close early on Friday, May 22, 2020 at 11:00 A.M. PST due to the […]

Big Rate Reduction + Drastic Reduction in LLPAs Effective immediately, Carrington Mortgage has improved pricing and reduced LLPAs on FHA and VA products. In these ever-changing times, you can count on Carrington to consistently help drive your success. Carrington. Your one "constant" for... Options for FICOs as low as 500 Manual underwriting expertise Financing manufactured […]

Overview Due to severe storms, tornadoes and straight-line winds in South Carolina, FEMA has declared the following counties a disaster. Incident Period: April 12-13, 2020 State FEMA Disaster Declaration Counties South Carolina May 1, 2020 Aiken, Colleton, Hampton, Marlboro, Oconee, Orangeburg, and Pickens Please note: If an appraisal was completed prior to the incident date […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following recent Government loan product underwriting updates (highlighted in red). These updates are clarifications of existing guidance or were announced via previous Correspondent Announcements and are effective immediately.  Please note this is an abbreviated summary of the guideline changes.  All updates should be viewed […]