About This Program
MyLoanDetail is Carrington Mortgage Services proprietary, web-based borrower mortgage education tool. MyLoanDetail explains the mortgage process and confirms a borrower’s understanding of their mortgage loan through a series of questions and answers. Borrowers confirm their understanding of the loan, a breakdown of fees and payment, and each parties’ responsibilities under the loan. It takes just a few minutes to complete and is a final, required step in the loan application/approval process. Upon completion, borrowers receive a certificate of completion to present to the Loan Officer.
Why is Carrington requiring borrowers to complete MyLoanDetail borrower education?
- Carrington is committed to responsible, ethical lending, and borrower education. We believe that customers who better understand their mortgage loans will be more likely to fulfill their responsibilities under their mortgages and will generate more loyal and persistent business.
- Brokers involved in the process, by association, will set themselves apart as responsible and ethical businesses
Who will be required to complete MyLoanDetail?
- All borrowers, regardless of FICO or experience
To view the MyLoanDetail questions asked of borrowers, click here.
Frequently Asked Questions
Q: Who makes the borrower aware the My Loan Detail certification is required?
A: The Loan Officer is responsible for making the borrower aware the My Loan Detail needs to be completed prior to docs.
Q: Where does the borrower complete the My Loan Detail?
Q: What happens if the borrower doesn’t have an email address?
A: Contact your Account Executive.
Q: What if I need to change the email address?
A: Contact your Account Manager.
Q: Is My Loan Detail available in a language other than English?
A: At this time My Loan Detail is only available in English.
Q: Are there instructions on how to complete the My Loan Detail?
A: The borrower will receive an email with instructions on how to register and complete the My Loan Detail.
Q: Does Carrington Mortgage Services have a guide that can assist the borrower?
A: Yes, click the link to access the guide.
Q: What is My Loan Detail?
A: My Loan Detail provides a comprehensive review of the loan approval. It provides details about the new loan. My Loan Detail will provide a breakdown of fees and payment information.
Q: What does the borrower do with the Certificate of Completion?
A: The Certificate of Completion needs to be generated to conclude the My Loan Detail, however it does not need to be printed or sent to Carrington Mortgage Services.