Announcement 19-0010: February 2019 Carrington Advantage Program Updates

February 7, 2019


Effective February 7, 2019, Carrington Mortgage Services, LLC (CMS) is pleased to announce the following guideline improvements for the Carrington Advantage products:

  • Higher LTV’s for CFA Investment cash-out loans
  • More lenient Non-Sufficient Funds (NSF) requirements on bank statement programs

Improved LTV’s for Investment Cash-out (CFA program only)

Improved the Investment Overlay LTV Reduction for Cash-Out refinance transactions by decreasing the LTV adjustment to 5% from 10%. This increases the maximum LTV by 5% for all investment cash-out loans using the Carrington Flexible Advantage program.


Improved Non-Sufficient Funds (NSF) Guidance – Bank Statement Programs

Current NSF guideline:
Up to 3 NSF checks in the most recent 12-month period are allowed with explanation from the borrower.

New NSF guideline:
NSF (non-sufficient funds) is a term used to indicate that a demand for payment can’t be honored due to insufficient funds available in the account. Overdraft protection transfers are not considered an NSF. Excessive NSFs will be highly scrutinized and may cause the loan to be deemed ineligible.

More than 3 NSF checks or overdrafts within the most recent 12 months require explanation, supporting documentation, and underwriter analysis for acceptability. Note: Overdraft Protection Transfers from a linked bank account or line of credit are not considered an NSF. Refer to the CMS Carrington Flexible Advantage Program Underwriting Guidelines available on for additional details.


Please contact with any questions.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
VA Automatic Lender Approval #:

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
P.O. Box 692408
San Antonio, TX 78269-2408

Industry Links

Loan Limits LookupMortgage Letters
This information is provided for your convenience and Carrington Mortgage Services, LLC makes no warranties concerning the accuracy or completeness of any of the information. This is not financial or legal advice and should not be taken as such. This information is for mortgage professionals only and is not intended for distribution to consumers.
CAREERSINVESTORSabout uswholesale

An Equal Housing Opportunity Lender. Copyright 2007 - 2023 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site:

The content of this website is intended for licensed third-party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.

Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram