Latest News Category: News

FHA Eases Up on Borrowers with Credit Disputes

The Federal Housing Administration has eliminated their own new rule aimed at consumers with even fairly minor “collections debt.” The new rule, which would have gone into effect July 1, required potential borrowers to settle any disputed debts totaling $1,000 or more before the FHA would consider backing their mortgage. The rule originated as part […]

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Now Accepting Early Submissions for FHA Streamlines

Now Through 6/10/2012 As announced in FHA ML 12-04—Effective for case numbers assigned on/after 6/11/12 for streamline refinance transactions of FHA loans endorsed on/before 5/31/09: Decrease to Up Front MIP: Up Front MIP = 0.01 of the base loan amount. Decrease to Annual MIP: Annual MIP = 55 bps, regardless of loan amount. Submit Early […]

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Important Dates for Revised Mortgage Premiums
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No Mortgage Backing by FHA If Credit Disputes Total Over $1,000

Borrowers now need to resolve even minor disputes with their creditors before expecting the Federal Housing Administration to insure their loan. As of April 1, the FHA will no longer consider insuring a mortgage to any potential borrower with ongoing credit disputes totaling more than $1,000. Prior to the new rule, individual underwriters and lenders […]

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New Lending States: WI, MN, NC

Carrington Mortgage Services is now lending in Wisconsin, Minnesota, and North Carolina. Effective immediately, all loan programs are available for all eligible subject properties located in these states. See our loan programs for details. Brokers located in these states interested in becoming an approved Carrington partner should contact their Account Executive or new broker applicants […]

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FHA Streamline Loan Program

View our current FHA Streamline guidelines offering non credit qualifying and credit qualifying programs.  Contact your Account Executive for more information or view the loan program details,  click here NON CREDIT QUALIFYING* PRODUCT HIGHLIGHTS Total lender fees: $399 No appraisal required No income documentation required Mortgage history - no late payments in the last 12 […]

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Holiday Announcement: Presidents Day

Monday, February 20th is President’s Day. CMS Lending and the Lock Desk will be closed.  CMS will be open Tuesday, February 21stresuming normal operating hours from 8am to 4pm PST. Reminders: All lock extensions will need to be requested by Friday, February 17th, including those expiring on Monday, February 20th. Monday, February 20, 2012 cannot […]

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Change to Pricing Structure for all Conforming Conventional loans

As a result of the Temporary Payroll Tax Cut Continuation Act of 2011 passed by Congress and signed into law, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to increase loan guarantee fees. Carrington Mortgage Services will implement a change to our pricing structure for all Conforming Conventional (including High Balance […]

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Holiday Announcement, Martin Luther King Day – Monday, January 16, 2012

Monday, January 16, 2012 is the Federal Holiday, Martin Luther King Day.  Carrington Mortgage Services and the Lock Desk will be closed. Carrington Mortgage Services – Wholesale Lending will be open for business on Tuesday, January 17, 2012 and the Lock Desk will resume normal operation starting at 8:00 AM PST to 4:00 PM PST. […]

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Expanded State Lending Capabilities

Carrington Wholesale Mortgage is now open for business in New Mexico, Illinois, Pennsylvania, and Virginia! Effective immediately, all of our loan programs and products are available for subject properties located in any of these states*. We are also currently looking for new Brokers in these states…if you’d like more information about becoming an approved Carrington […]

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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

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