Announcement 19-0027: Revised Bank Statement Calculator

April 19, 2019

Overview

Carrington Mortgage Services, LLC (CMS) is pleased to announce the Bank Statement Calculator for use with bank statement income documentation for Carrington Advantage program (Flexible Advantage, Flexible Advantage Plus and Investor Advantage) loans has been revised to include the following enhancements:

    • 12- and 24-month Business Bank Statement calculators now include a “Business Ownership Percentage” field that will calculate through qualifying income
    • 24-month Personal and Business Bank Statement calculators will now use the lower of the 12- or 24-month averages
    • Data entry fields are now shaded green or red, system-calculated fields remain shaded gray
    • Deposit deduction fields are formatted so the figures reflect as negative values (red, with parentheses)

Resources

The Bank Statement Calculator is available at: CorrIQ > Resources > Forms > Other Forms > Bank Statement Calculator

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.

Carrington thanks you for your business.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
24751-0000-5
VA Automatic Lender Approval #:
902324-00-00

Mortgagee/Loss Payee Clause

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

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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.
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An Equal Housing Opportunity Lender. Copyright 2007 - 2022 . 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: www.nmlsconsumeraccess.com.

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

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