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.
Please contact CorrespondentRM@carringtonms.com with any questions.
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