Effective January 2, 2019, Carrington Mortgage Services, LLC (CMS) Wholesale will update the Submission Acceptance process on Broker Disclosed Loans as follows:
A Broker may submit a Clerical Revised Loan Estimate to correct information located on page 3 of the Loan Estimate, within three (3) business days of the submission. CMS will no longer reject the submission for missing or inaccurate:
A Broker may submit a Revision Requested by Consumer, Revised Loan Estimate within three (3) business days of the submission, to correct for under-disclosed or missing fees such as:
Note: This process does not apply for inaccurately disclosed Broker Compensation, Third Party Processing Fees, Transfer Taxes, Recording Fees, or Settlement Charges. Re-disclosure of Transfer Taxes, Recording Fees, or Settlement Charges will require a valid change of circumstance (COC) in order for the amounts to increase. CMS will continue to reject Broker Disclosed submissions with under-disclosed Broker Fees or Settlement Charges.
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