Announcement 19-0028: Down Payment Assistance (DPA) Programs Suspended

April 26, 2019

Overview

HUD recently announced major changes to its approach regarding Down Payment Assistance (DPA) Programs with the release of Mortgagee Letter 19-06.  The effective date for these new DPA requirements was initially announced as April 18, 2019; however, the implementation has subsequently been delayed for 90 days. Due to these pending changes, effective immediately, Carrington Mortgage Services, LLC (CMS) has suspended accepting any new loan submissions with DPA Programs. Once HUD publishes the final Mortgagee Letter and its requirements are known, CMS will re-evaluate our position.

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 1500 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)

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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

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