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Overview The London Interbank Offered Rate (LIBOR) is being discontinued as an approved index for adjustable interest rate mortgages (ARMs), and will be replaced with the Secured Overnight Financing Rate (SOFR) as an approved index for ARM loans. In anticipation of the transition, effective May 8, 2023, Carrington Mortgage Services, LLC (CMS) will implement the […]

Overview Due to severe winter storms, straight-line winds, flooding, landslides and mudslides in California, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: February 21, 2023 and Continuing State FEMA Disaster Declaration Counties California 4/4/2023 Kern, Madera, Mariposa, Mendocino, Mono, Monterey, San Benito, San Bernardino, Santa Cruz, Tulare […]

Overview Due to a severe storm, straight-line winds, and tornadoes in Mississippi, FEMA has declared the following counties a disaster. Incident Period: March 24, 2023 - March 25, 2023 State FEMA Disaster Declaration Counties Mississippi 3/26/2023 Carroll, Humphreys, Monroe and Sharkey Re-Inspection by Product Type If your loan is … A re-inspection is required … […]

Overview Due to severe weather in Georgia, FEMA has declared the following counties a disaster. Incident Period: January 12, 2023 State FEMA Disaster Declaration Counties Georgia 1/16/23 Butts, Henry, Jasper, Meriwether, Newton, Spalding and Troup Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA Full […]

Overview Due to severe storms, straight line winds and tornadoes in Alabama, FEMA has declared the following counties a disaster. Incident Period: January 12, 2023 State FEMA Disaster Declaration Counties Alabama 1/15/23 Autauga and Dallas Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA Full […]

Overview Due to severe winter storms, flooding, landslide and mudslides in California, FEMA has declared the following counties a disaster. Incident Period: December 27, 2022 and Continuing State FEMA Disaster Declaration Counties California 1/14/2023 Merced, Sacramento and Santa Cruz Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these […]

Overview During the 2022 holiday season Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will observe the following schedule: Monday, December 26, 2022 – closed for the Christmas holiday Monday, January 2, 2023 – closed for New Year’s Day holiday Normal Lock Desk hours will resume December 27, 2022 and January 3, 2023. […]

Last Week in Review: Waiting on the Fed This past week home loan rates improved modestly as we approach an important Fed Meeting and inflation reading this week. Let's discuss what happened and talk about the headline risk on the horizon. More Signs Of Inflation Falling On Tuesday, 3rd Quarter Productivity showed that Unit Labor […]

Overview Due to Hurricane Ian in South Carolina, FEMA has declared the following counties a disaster. Incident Period: September 25, 2022 - October 4, 2022 State FEMA Disaster Declaration Counties South Carolina November 21, 2022 Charleston, Georgetown and Horry Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these […]