Due to current market conditions, effective March 20, 2020 and until further notice, Carrington Mortgage Services, LLC (CMS) will temporarily no longer permit a lock until the loan is Approved and the appraisal (where applicable) has been received by CMS. Please see revised lock policy below.
Loan Type | Available Lock Terms | Additional Requirements |
Non-QM Loans | 45-days | Loan must be Approved with appraisal in file |
Conventional Full Document Loans | 45-days, 60-days | Loan must be Approved with appraisal in file |
Government Full Document Loans | 45-days, 60-days | Loan must be Approved with appraisal in file (loans with Appraisal Waivers are exempt) |
Government Streamline/IRRRL | 45-days, 60-days | Loan must be Approved |
Lock Extensions:
Please contact your Account Executive or Account Manager with any questions.
Carrington thanks you for your business.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00