Announcement 20-0012: Temporary Suspension of 30-Day Locks

Overview

Due to current market conditions, effective March 13, 2020 and until further notice, Carrington Mortgage Services, LLC (CMS) will temporarily suspend offering 30-day locks. CMS will still offer 15-day, 45-day, and 60-day lock terms in accordance with the revised guidelines for available lock terms outlined below.  Please contact your Account Executive or Relationship Manager with any questions.

Loan TypeAvailable Lock TermsAdditional Requirements
Non-QM Loans45-daysLoan must be Approved
Conventional/Government Full Document Loans45-days and 60-daysNone
Conventional/Government Full Document Loans15-daysLoan must have all Underwriting Conditions submitted and sent for Commitment to Purchase
Government Streamline/IRRRL45-days and 60-daysNone
Government Streamline/IRRRL15-daysLoan must be Approved

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.

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