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Update: FHA loans in a standard IRS repayment plan

July 18, 2017
Rodney Ashton

Effective immediately, Carrington Mortgage Services, LLC (CMS) will apply the following guidance for FHA loans in a standard IRS repayment plan (may not be part of a lien or judgment):

 
In addition, the following applies:

  • It is acceptable for the current year owed to be added to an existing repayment plan
  • No change in guidance for borrowers who have filed an extension for the current year due

 

LOANS MUST BE LOCKED IN MARCH!

Contact your Account Executive with questions.

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

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