New Pricing Structure Changes Starting Immediately

September 13, 2012

The Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to increase loan guarantee fees (g-fee) that are charged. As a result, Carrington Mortgage Services will implement a change to our pricing structure for all Conforming Conventional (including High Balance products) loans.
Timing for implementation:

  • Effective immediately, new 45 and 60 day locks will have the new increased fee built into the base pricing.
  • On Sunday, September 16th , the 30 day base pricing will reflect the new fee increase.
  • On Monday, October 1st, the 15 day base pricing will reflect the new fee increase.
  • Any Conventional Conforming loans (Fannie Mae or Freddie Mac product) that are locked on or before September 16 that need to extend beyond Tuesday, October 16th to fund, will be subject to an additional 50 basis point price adjustment over and above normal extension costs. This applies to all relocks and all other extension scenarios.
  • All other extension costs for loans locked on or after Monday, October 1st will be subject to the current extension fees as listed on the daily rate sheet.

Carrington Mortgage Services will monitor the pipeline and reserves the right to assess the correct extension fees where applicable.
Please direct any questions to your Account Executive.

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

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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.
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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.

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

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