Carrington Wholesale


Updated Carrington Advantage Product Guidelines

December 16, 2020rashtonBulletin


Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Thursday, December 17, 2020; CMS will implement the following Carrington Advantage (Prime Advantage, Flexible Advantage Plus, Flexible Advantage, and Investor Advantage) product underwriting updates (highlighted in blue).  Please note this is an abbreviated summary of the guideline changes. For additional information, please review the full product matrices available on

Underwriting Guidelines
Program Old Requirements Updated Requirements
All Programs Cash out proceeds not permitted to meet reserve requirements. Cash out proceeds permitted for reserves with ≥ 700 FICO.
Prime Advantage Max LTV = 80% for FICOs 700-719 (Full Doc and Alt Doc) Max LTV = 85% for FICOs 700-719 (Full Doc and Alt Doc)
Investor Advantage Foreclosure, Short Sale/DIL, Bankruptcy Seasoning = 36 mos Foreclosure, Short Sale/DIL, Bankruptcy Seasoning = 48 mos

Refer to the Carrington Advantage Program Matrices for additional information.


Please contact your Account Executive or Account Manager with any questions.

Carrington thanks you for your business.