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Carrington Mortgage Services, LLC
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Announcement 20-0001: Loan Purchasing Reminder

January 6, 2020

Overview

As a reminder, on the date of purchase by Carrington, the unpaid principal balance of the loan will be calculated based on the effective servicing transfer date.

  • Loans purchased on or before the 10th business day of the month; the effective servicing transfer date will be the first day of the month following the month of purchase.
  • Loans purchased after the 10th business day of the month; the effective servicing transfer date will be the first day of the second month following the month of purchase.

Examples:

  • If a loan is purchased on January 6th the effective servicing transfer date would be February 1st.
  • If a loan is purchased on January 15th, the effective servicing transfer date would be March 1st.

If a loan payment is scheduled before the servicing transfer date, the principal portion of the scheduled payment will be deducted from the principal balance of the loan.

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.

Carrington thanks you for your business.

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Equal Housing Opportunity An Equal Housing Opportunity Lender. Copyright 2007 - 2024 . 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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