Effective for all loan submissions received on and after January 1, 2023, Carrington Mortgage Services, LLC (CMS) will implement the following Wholesale fee schedule. The new CMS Underwriting Fees are highlighted in BLUE below:
|Loan Product||Underwriting Fee*||Underwriting Fee* with ProcessIQ|
|North Carolina Loans||$150||$150|
|New Jersey Loans||$0||$0|
Please note the Iowa Fee is called “Closing Fee” and uses same fee schedule above.
*Note: The Wholesale Underwriting Fee can be “bought out” and moved into the loan pricing instead of charging directly to borrower.
Please contact your Account Executive or Account Manager with any questions.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00