On February 5, 2020, Fannie Mae released Lender Letter LL-2020-01 concerning the upcoming transition from LIBOR to an alternate index for all ARM products. Carrington Mortgage Services, LLC (CMS) will follow the timelines and requirements of the letter particularly with respect to the following:
Carrington will not purchase loans which do not comply with these requirements. Carrington expects to transition to the SOFR index for offered ARM loans by the end of 2020 and will provide additional guidance throughout the transition process.
Please contact CorrespondentRM@carringtonms.com with any questions.
Carrington thanks you for your business.
Contact your Account Executive with questions.
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: www.nmlsconsumeraccess.com.
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