Reminder: VA regulations limit the fees the veteran can pay to obtain a loan

April 20, 2018

As a reminder, VA regulations limit the fees the veteran can pay to obtain a loan. Carrington Mortgage Services, LLC (CMS) strictly adheres to the limitations on borrower-paid fees and charges when making VA loans.
CMS will permit the Broker Fee to be included in the 1% Fee Amount to the veteran may be charged.
Amount Above 1% Tolerance can be Resolved in the Following Ways:

  • Fee paid by Seller
  • Reduction in Settlement Costs by the Settlement Agent
  • Broker reducing their Broker Fee
  • Broker buying out the Underwriting Fee

In order to pass the 1.00%, the Broker must submit a Change of Circumstance request indicating which option will be used to bring the fees within the 1.00% total.
Credit for the Interest rate selected may not be used to pay the Broker Fee or any other Unallowables.
Lender Credit may not be used to pay the Broker Fee.
The CMS VA Borrower Fees and Charges (Broker Guide) is currently being revised to include these requirements.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
VA Automatic Lender Approval #:

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
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.
An Equal Housing Opportunity Lender. Copyright 2007 - 2023 . 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:

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