Latest News

Overview Due to severe storms and flooding in Texas, FEMA has declared the following counties a disaster. Incident Period: June 24, 2019 – June 25, 2019 State FEMA Disaster Declaration Counties Texas July 17, 2019 Cameron, Hidalgo, and Willacy Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection will […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Monday, July 15, 2019, the Carrington Advantage (Flexible Advantage/Advantage Plus and Investor Advantage) programs will offer a new Interest-only product option. Interest-Only loans offer borrowers lower monthly payments by allowing borrowers to pay only the interest during the 10 year interest-only period.  Once the […]

Overview Due to severe winter storms, tornadoes, and flooding in Missouri, FEMA has declared the following counties a disaster. Incident Period: April 29, 2019 and continuing State FEMA Disaster Declaration Counties Missouri July 9, 2019 Andrew, Atchison, Boone, Buchanan, Carroll, Chariton, Cole, Greene, Holt, Jackson, Jasper, Lafayette, Lincoln, Livingston, Miller, Osage, Pike, Platte, Pulaski, and St. Charles […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following recent guideline enhancements for the VA loan product. Please note: Substantial changes have been made to the guidelines to align with recent VA Guidance and are summarized below. Refer to the CMS VA Underwriting Guidelines for detailed information. VA Guidelines Topic Updated Requirements […]

Overview The VA has implemented changes to ensure Veterans’ funding fee exemption information is up-to-date at the time of closing to avoid incorrect charges to exempt Veterans. Lenders may not advise Veteran borrowers who believe they are exempt from paying the funding fee to close on a loan without first establishing the borrower’s funding fee […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce that our approved document vendor, Doc Magic, has completed an enhancement to their document library that now allows Correspondent Sellers to select Carrington as the Investor when drawing closing documents. DocMagic is a leading provider of fully-compliant loan document preparation solutions. Integrating Carrington’s loan programs […]

This past week financial markets around the globe traded in a bit of a calm sideways pattern ahead of arguably the most important economic event of 2019 -- the US/China trade talks at the G20 meeting. Depending on when you read this newsletter, the headlines may already be out as talks between President Trump and […]

Overview Due to severe winter storms, snowstorms, and flooding in South Dakota, FEMA has declared the following counties a disaster. Updated county is shown in bold. Incident Period: March 13, 2019 – April 26, 2019 State FEMA Disaster Declaration Counties South Dakota June 7, 2019 Bennett, Bon Homme, Charles Mix, Cheyenne River Indian Reservation, Dewey, Hutchinson, Jackson, […]

Overview Due to severe storms, straight-line winds, tornadoes, and flooding in Oklahoma, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: May 07, 2019 to June 9, 2019 State FEMA Disaster Declaration Counties Oklahoma June 1, 2019 Alfalfa, Canadian, Cherokee, Craig, Creek, Delaware, Garfield, Kay, Kingfisher, Le Flore, Logan, Mayes, […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Thursday, July 4, 2019 for Independence Day, which is a Federal Holiday and also Friday July 5, 2019 for a Carrington Company Holiday. In addition, the lock desk will close early (10:00 AM PST) on Wednesday, July 3, 2019. Normal lock hours will […]