Now Accepting Early Submissions for FHA Streamlines

May 17, 2012

Now Through 6/10/2012
As announced in FHA ML 12-04—Effective for case numbers assigned on/after 6/11/12 for streamline refinance transactions of FHA loans endorsed on/before 5/31/09:

  1. Decrease to Up Front MIP: Up Front MIP = 0.01 of the base loan amount.
  2. Decrease to Annual MIP: Annual MIP = 55 bps, regardless of loan amount.

Submit Early and Carrington Mortgage Services Will:

  1. Confirm that the loan is eligible via the Query Screen on FHA Connections. MSI will advise you if the loan is not eligible.
  2. Underwrite the loan and hold it in queue to submit for an FHA case number on 6/11/12.
  3. Receive the case number from FHA, and expedite the closing/funding of the loan.

We will make every effort to facilitate a June closing for these early submissions; however, we are subject to the limitations of the FHA Connections’ ability to provide FHA Case Numbers.

  • If the receipt of the FHA case numbers is delayed, CMS will strive for a July closing; however, CMS will then require an updated Payoff Letter from the Servicer.

Ready to Submit Now?

  1. Submit the eligible FHA Streamline loan package to CMS according to current guidelines.
  2. You do not have to include the FHA Case Number Assignment.
  3. You MUST include the fully completed CMS FHA Case Number Assignment Request Form. Click Here for the form

Please include:

  • Evidence of current Case Number (for the loan being refinanced).
  • Copy of Pay-off letter from the servicer showing payment due for June 2012

 

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
24751-0000-5
VA Automatic Lender Approval #:
902324-00-00

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
ISAOA/ATIMA
P.O. Box 692408
San Antonio, TX 78269-2408

Industry Links

Loan Limits LookupMortgage Letters
This information is provided for your convenience and Carrington Mortgage Services, LLC makes no warranties concerning the accuracy or completeness of any of the information. This is not financial or legal advice and should not be taken as such. This information is for mortgage professionals only and is not intended for distribution to consumers.
CAREERSINVESTORSABOUT USCORRESPONDENT
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

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram