Latest News Category: News

Carrington Mortgage Holdings EVP Corporate Communications, Rick Sharga, was featured on Yahoo Finance’s Daily Ticker. This video interview covered the current housing recovery, shadow inventory, and the role of investors in the market. You can find the interview and video here: http://finance.yahoo.com/blogs/daily-ticker/housing-conflicting-factors-sustainable-recovery-172931334.html

Effective Friday, October 12, 2012, 3-4 Unit Properties are no longer eligible for the FHA Streamline program. For 3-4 unit FHA Streamline refinances that are currently in the pipeline the following applies: Full appraisal required The property must cash flow; full income documentation is required to verify cash flow of the subject property The property […]

Please review important changes to the FHA Streamline program. Starting Monday, September 17th, 2012: An AVM is required on all FHA Streamline loans with FICO scores less than 640. The AVM will be ordered by a Carrington Junior Underwriter early in the process and included in loan file at time of underwriting. The LTV of […]

The Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to increase loan guarantee fees (g-fee) that are charged. As a result, Carrington Mortgage Services will implement a change to our pricing structure for all Conforming Conventional (including High Balance products) loans. Timing for implementation: Effective immediately, new 45 and 60 day […]

Addition of Seasoned Mortgage Industry Executive to Drive Growth of Lending Business Carrington Mortgage Services (Carrington) today announced the addition of Lynn Halstead as vice president of wholesale operations to its Mortgage Lending Division senior management team. Lynn joins Carrington to drive its wholesale lending channel. "Lynn is exactly the kind of experienced, well-rounded executive […]

Monday September 3, 2012 is Labor Day and is a Federal Holiday. Carrington Mortgage Services and the Lock Desk will be closed. Carrington Mortgage Services will be closing early on Friday August 31, 2012 and the Lock Desk will be closing at 1:00 PST and will be closed on Monday September 3, 2012.

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 […]

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 […]

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 […]