Overview To confirm the value determination for Carrington Advantage Product (CFA, CFA Plus, and Investor Advantage) loans with amounts of $1 Million and greater, effective June 17, 2019, Carrington Mortgage Services, LLC (CMS) will implement the following new appraisal requirements. These requirements apply for all loans received in Loan Set-Up (LSU) on and after the […]
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Overview Due to severe storms and flooding in Iowa, FEMA has declared the following counties a disaster. Updated county is shown in bold. Incident Period: March 12, 2019 – May 16, 2019 State FEMA Disaster Declaration Counties Iowa March 23, 2019 Fremont, Harrison, Louisa, Mills, Monona, Pottawattamie, Scott, Shelby and Woodbury Please note: If an […]
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 and continuing State FEMA Disaster Declaration Counties Oklahoma June 1, 2019 Canadian, Creek, Delaware, Kay, Logan, Mayes, Muskogee, Okmulgee, Osage, Ottawa, Payne, Pottawatomie, Rogers, Sequoyah, Tulsa, […]
Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the Carrington Advantage product (CFA and CFA Plus) underwriting guidelines have been revised with the following changes (highlighted in red): Carrington Flexible Advantage Guidelines Old Requirements Updated Requirements Consumer Credit Counseling Service (CCCS) Borrower enrollment in CCCS is allowed when a minimum of 12 months […]
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 and continuing State FEMA Disaster Declaration Counties Oklahoma June 1, 2019 Canadian, Creek, Logan, Muskogee, Osage, Ottawa, Rogers, Tulsa, Wagoner, and Washington Please note: If […]
Overview Due to severe storms and flooding in Arkansas, FEMA has declared the following counties a disaster. Incident Period: March 21, 2019 and continuing State FEMA Disaster Declaration Counties Arkansas June 8, 2019 Conway, Crawford, Faulkner, Jefferson, Perry, Pulaski, Sebastian, and Yell Please note: If an appraisal was completed prior to the incident date of the […]
Overview Due to severe winter storms, snowstorms, and flooding in South Dakota, FEMA has declared the following counties a disaster. 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, Mellette, Minnehaha, Oglala Lakota, Oglala Sioux […]
Overview The Department of Veterans Affairs (VA) released guidance stating appraisals may no longer be requested through WebLGY prior to ordering the veteran’s Certificate of Eligibility (COE). The COE is extremely important to ensure veterans are eligible for the VA loan benefit before ordering the appraisal. Effective immediately, the VA requires that all Lender Appraisal […]
Overview TILA 1026.4(c)(7) Real-Estate Related Fees; permits the Doc Prep and Notary Fees to be excluded from the Finance Charge (APR). Carrington Mortgage Services, LLC (CMS) has updated Mavent to account for this change. The following changes are effective June 4, 2019: Mavent will not include these fees in the Finance Charge or APR Contacts […]
Overview Due to severe winter storms, straight-line winds, and flooding in Nebraska, FEMA has declared the following counties a disaster. The updated county is shown in bold. Incident Period: March 9, 2019 – April 1, 2019 State FEMA Disaster Declaration Counties Nebraska March 21, 2019 Antelope, Boone, Boyd, Buffalo, Burt, Butler, Cass, Colfax, Cuming, Custer, Dodge, Douglas, Hall, Holt, […]