The average 30-year fixed mortgage rate fell for the fourth straight week to 6.87%; applications to purchase newly constructed homes rebounded 19% from December; mortgage applications decreased 6.6% from one […]
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Weekly Housing Headlines
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Mortgage applications increased 2.3% from one week earlier; shelter prices accelerated last month, rising 0.4% versus 0.3% in December; home prices rose in Q4 2024 as nearly 90% of metro […]
CMS Third Party Originator FHA Loan Guideline Updates for Correspondent Delegated Sellers
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Overview Carrington Mortgage Services, LLC (CMS) is implementing the following guideline changes for third-party originated FHA loan submissions (excluding Streamline loans) when the qualifying FICO score is 640 or less. […]
CMS Third Party Originator FHA Loan Guideline Updates for Correspondent Non-Delegated Sellers
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Overview Carrington Mortgage Services, LLC (CMS) is implementing the following guideline changes for third-party originated FHA loan submissions (excluding Streamline loans) when the qualifying FICO score is 640 or less. […]
President's Day – Lock Desk Hours and Key Compliance Dates
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Overview The offices of Carrington Mortgage Services, LLC (CMS), including the Lock Desk, will be closed on Monday, February 17, 2025 for President’s Day, which is a Federal Holiday. Normal […]
Weekly Housing Headlines
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Existing home sales grew by 2.2% in December, although pending home sales dropped 5.5% that same month; mortgage applications decreased 2% from one week earlier; new single-family home sales accelerated […]
Updated VA Authorized Agent Sponsorship Process
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Please be advised effective immediately, the $100 VA Authorized Agent Sponsorship fee may now be paid by Credit Card in addition to check. To pay by Check, attach a check […]
FEMA Disaster Declaration for Rhode Island
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Overview Due to Hurricane Idalia in Florida, FEMA has declared the following counties a disaster. Update: Additional counties have been added (shown in bold) and the Incident Period End Date […]
New Custodian for CMS Non-QM Loans
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Overview As a reminder, Carrington Mortgage Services, LLC (CMS) now requires use of Computershare Trust Company, N.A. as the Custodian for all Non-QM Loan collateral package documents. Correspondent sellers must […]
Veteran’s Day Holiday – Lock Desk Hours and Key Compliance Dates
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Overview Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Friday, November 10, 2023 in observance of Veteran’s Day, which is a Federal Holiday. Normal Lock Desk […]
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