Announcement 20-0037: Updated CMS Lock Policy – Lock Extensions

May 26, 2020

Overview

Effective May 27, 2020 Carrington Mortgage Services, LLC (CMS) will offer a 60-day lock to sellers prior to loan submission when the loan has been registered in CorrrIQ.

Loan Type	Available Lock Terms	Additional Requirements
All Loan Types	60-Days	Loan registered in CorrIQ
All Loan Types	15-Days	Loan must be Approved with All Conditions Submitted for final Clear to Purchase

Lock Extensions:

Maximum of up to two extensions
Maximum extension period of 15 days in the aggregate
Current extension fee charges remain in place (see rate sheet)
Free 3 day remains in place (existing policy applies)
No additional concessions will be considered for extension fees charged

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.
Carrington thanks you for your business.

LOANS MUST BE LOCKED IN MARCH!

Contact your Account Executive with questions.

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 - 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.

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