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Overview Due to a severe storm and flooding in Montana, FEMA has declared the following counties a disaster. FEMA has updated the declaration to add an end date of July 5, 2022 for the Incident Period. Incident Period: June 10, 2022 and July 5, 2022 State FEMA Disaster Declaration Counties Montana June 16, 2022 Carbon, […]

Overview Due to severe storms, tornadoes and flooding in Oklahoma, FEMA has declared the following counties a disaster. Incident Period: May 2, 2022 - May 8, 2022 State FEMA Disaster Declaration Counties Oklahoma June 29, 2022 Adair, Cherokee, Muskogee, Okmulgee, Pottawatomie, Seminole and Tulsa Re-Inspection by Product Type If your loan is … A re-inspection is […]

Overview Due to a severe storm and flooding in Montana, FEMA has declared the following counties a disaster. Incident Period: June 10, 2022 and continuing State FEMA Disaster Declaration Counties Montana June 16, 2022 Carbon, Park and Stillwater Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA […]

Overview The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk will be closed on Monday, June 20, 2022 for Juneteenth National Independence Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, June 21, 2022. Rate locks that expire on the holiday will automatically roll to the next business […]

Overview Due to wildfires and straight-line winds in New Mexico, FEMA has declared the following counties a disaster. Incident Period: April 5, 2022 and continuing State FEMA Disaster Declaration Counties New Mexico May 4, 2022 Colfax, Lincoln, Mora, San Miguel and Valencia Re-Inspection by Product Type If your loan is … A re-inspection is required […]

Overview Effective April 18, 2022, Carrington Mortgage Services, LLC (CMS) is pleased to announce an Investor Advantage program enhancement to increase the maximum LTV to 75% for First Time Investors with higher FICO scores. The maximum LTV requirements for First Time Investors are outlined below: Maximum LTV = 75% with FICO ≥ 680 and DSCR […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to introduce new 1099 and P&L products for the Non-QM (Carrington Prime Advantage and Carrington Flexible Advantage Plus) programs. The underwriting guideline updates are highlighted in red below and please note these are an abbreviated summary of the guideline changes. All updates should be viewed within the […]

Overview Effective March 21, 2022, Carrington Mortgage Services, LLC (CMS) is pleased to announce the following enhancements for the Investor Advantage loan program: Increased Maximum LTV from 82.50% to 85% for the 700 FICO band with loan amounts up to $1,000,000. Increased the permitted interested party Seller Contributions from 2% to 4% toward closing. Gift […]

Presidents Day Holiday – Lock Desk Hours and Key Compliance Dates The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk will be closed on Monday, February 21, 2022 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 22, 2022. Rate Locks that expire on the […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce a new VA Cash-Out Refinance option up to 100% LTV. The increased VA Cash-Out LTV option is subject to the following requirements: Effective for new submissions or Change of Circumstance (COC) requests on existing submissions beginning January 31, 2022, Maximum 100% LTV/CLTV, inclusive of any […]