Carrington Temporarily Suspending Non-QM Lending
Carrington Mortgage Services remains committed to the Non-QM market as one of the key leaders in the industry. Unfortunately, we have to temporarily discontinue offering Non-QM loans due to current secondary market conditions. We’re happy to say that any approved loans that are locked will be honored through the remaining locked term. Unfortunately, we will not be accepting any new Non-QM submissions for our Carrington Flexible Advantage, Flexible Advantage Plus, Investor Advantage, and Prime Advantage products.
Non-QM Loans that have been submitted or approved without rate lock cannot proceed under this program. For locked loans, we are not offering lock extensions at this time.
As the market stabilizes, Carrington will be at the forefront and will re-introduce our Non-QM product line.
We sincerely apologize for the temporary inconvenience this may cause and look forward to serving your Non-QM borrowers in the near future.
On the Brighter Side
Carrington continues to offer its full suite of government loans including FHA, VA & USDA loans full doc and streamlines. And don’t forget about our conventional Fannie/Freddie loan products.
- FICOs down to 500
- Manual underwriting (for those out of the box borrowers)
- Expanded DTI on FHA loans available
- So much more…