New Iowa Closing Fee
November 3, 2022
Overview
Effective November 3, 2022, Carrington Mortgage Services, LLC (CMS) will begin charging a new Closing Fee on Iowa Wholesale loan file submissions. Formerly, CMS did not charge Lender fees in Iowa for Wholesale loans; therefore, it is very important to ensure the new fee is specifically listed as Closing Fee in order to disclose the fee correctly on the loan documents.
The new Iowa Closing Fee uses following fee schedule:
| Loan Type and State | Underwriting Fee* | Underwriting Fee* with ProcessIQ |
| Wholesale – Conforming/Government | $699 | $899 |
| Wholesale – Non-Agency | $750 | $950 |
*The Wholesale Underwriting Fee can be “bought out” and moved into pricing instead of charging directly to borrower.
Contacts
Please contact your Account Executive or Account Manager with any questions.
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. 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: