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Announcement 18-0011: Fannie/Freddie Conventional Loan Programs Expiring

Overview Effective December 31, 2018, the following Fannie Mae and Freddie Mac conventional loan programs are scheduled to expire. Carrington Mortgage Services, LLC (CMS) will discontinue offering both programs as of the December 31st effective date. Fannie Mae DU Refi Plus All Fannie Mae DU Refi Plus mortgage loans must have application dates on or […]

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Announcement 18-0010: Lock Desk Holiday Hours

Overview During the holiday season Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will observe the following schedule: Monday, December 24, 2018 – Closed for the Christmas holiday Tuesday, December 25, 2018 – Closed for the Christmas holiday Tuesday, January 1, 2019 – Closed for New Year’s Day holiday In addition, due to […]

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Announcement 18-0009: Fannie Mae Desktop Underwriter DU Version 10.3 Updates

Overview The Carrington Mortgage Services, LLC (CMS) Fannie Mae Underwriting Guidelines are being updated to include changes announced in the DU/Desktop Originator® Version 10.3 Release Notes, including: risk factors evaluated by DU; new six month minimum reserve requirement for cash-out refinance transactions for borrowers with DTI ratios exceeding 45%; changes to how loans are underwritten […]

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Announcement 18-0008: Fannie Mae DU Updates for Self-Employment Income, Commission Income and Unreimbursed Business Expenses

Overview The Carrington Mortgage Services, LLC (CMS) Fannie Mae Underwriting Guidelines are being updated to include recent Desktop Underwriter (DU) changes for calculating self-employment income, commission income and unreimbursed business expenses as described below. Calculating Self-employment Income FNMA updated the self-employment income calculation and evaluation policy. Current policy allows lenders to use vendor tools to […]

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Announcement 18-0007: Maximum Loan Limits for 2019 – Conventional Products

Overview The Federal Housing Finance Agency (FHFA) has issued the following maximum first mortgage loan limits that will apply to conventional loans for acquisition by Fannie Mae / Freddie Mac with a note date on and after January 1, 2019. 2019 Conventional Loan Limits Units Conforming Amount - Contiguous States and District of Columbia Conforming […]

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Announcement 18-0006: REVISED - Lock Desk Hours for George H. W. Bush National Day of Mourning

The Carrington Mortgage Services (CMS) Lock Desk will be closed in observance of President George H. W. Bush’s death on Wednesday, December 5, 2018 which has been designated as a National Day of Mourning. The financial markets will be closed and no rate sheets will be produced and no rate locks will be allowed. Normal […]

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Announcement 18-0005: Carrington Advantage Underwriting Guideline Updates

Correspondent Announcement Carrington Advantage Underwriting Guideline Updates November 27, 2018 Corr18-0005 Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following recent Carrington Advantage product (Flexible Advantage/Flexible Advantage Plus and Investor Advantage) Underwriting updates (highlighted in red): Carrington Flexible Advantage Underwriting Changes Document Old Requirements Updated Requirements Flexible Advantage/ Advantage Plus Guidelines General […]

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Announcement 18-0004: Government and Conventional Underwriting Guideline Updates

Correspondent Announcement Government and Conventional Underwriting Guideline Updates November 27, 2018 Corr18-0004 Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the following Underwriting updates (highlighted in red): VA Product Underwriting Changes Document Old Requirements Updated Requirements VA Underwriting Guidelines Borrower Eligibility Must be a veteran who served the minimum duty with other than […]

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Announcement 18-0003: Thanksgiving Holiday Lock Desk Hours

Overview Carrington Mortgage Services (CMS) offices, including the Lock Desk, will be closed Thursday, November 22, 2018 and Friday, November 23, 2018 in observance of Thanksgiving, which is a federal holiday.  Due to the holiday, the Lock Desk will be closing early on Wednesday, November 21, 2018 at 11:00 AM PST (early market closure of […]

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Announcement 18-0002: FEMA Disaster Declaration for California

Overview Due to California Wildfires, FEMA has declared the following counties a disaster. Incident Period: November 08, 2018 Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required. If an appraisal was not required due to a property inspection waiver or product type, an inspection […]

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Equal Housing Opportunity An Equal Housing Opportunity Lender. Copyright 2007 - 2024 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.com.

The content of this website is intended for licensed third-party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.

Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

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