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Policy Announcement: Required Itemized Written List of Providers

June 29, 2017

Overview

Effective June 27, 2017, Carrington Mortgage Services, LLC (CMS) Wholesale Loan Setup will be required to obtain a Written List of Providers (Settlement Service Provider List) with Itemized Fees matching the amounts disclosed on the Broker’s Loan Estimate or Broker’s Fee Sheet.
The Itemized Written List of Providers will be required on CMS disclosed submissions and Wholesale Loan Setup will match the Carrington Loan Estimate to the Broker’s Fee Sheet and Written List of Providers.
Broker Disclosed submissions may be accepted for up to 30 days with corrected lists. After 30 days, submissions will be rejected if the Written List of Providers is inaccurate, or cannot be corrected within three (3) business days of the Loan Application.
Grace Period begins 07/05/17 and ends 08/07/17.

Target Audience/Customer

All Wholesale Brokers

Contacts

For any questions contact BrokerIQ support.

Accurate Example (Fees are itemized)

Inaccurate Example (Fees are bundled)

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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.

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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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