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The Redesigned URLA is Here At the first of the year, Fannie Mae and Freddie Mac rolled out the redesigned Uniform Residential Loan Application (URLA), along with new automated underwriting system (AUS) specifications for DU and LPA. Get the full rundown on the form updates, which aim to: Help lenders more easily capture relevant loan […]

The Redesigned URLA is Here At the first of the year, Fannie Mae and Freddie Mac rolled out the redesigned Uniform Residential Loan Application (URLA), along with new automated underwriting system (AUS) specifications for DU and LPA. Get the full rundown on the form updates, which aim to: Help lenders more easily capture relevant loan […]

Fall in LOVE with Full-Doc Pricing! If you’ve been trying to close customers who need a Full-Doc government loan, you're going to love this... Effective TODAY, we’ve made significant price improvements for VA and FHA full doc programs. Give us a call, we’d love to talk it over or login to see our rate sheet. […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, February 15, 2021 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 16, 2021. Rate Locks that expire on the holiday will automatically roll to the next business day.  In addition there are […]

Last Week in Review: Three Things the Fed Said This past week, the Federal Reserve held their first meeting of 2021 and shared its thoughts on the economy, inflation, and interest rates. Below are three important takeaways for the mortgage/housing world and overall economy: 1. "In terms of tapering, it's just premature." Fed Chair Jerome […]

Overview On January 20, 2021, HUD announced major changes to their guidelines for borrowers with Deferred Action for Childhood Arrivals (DACA) status. Individuals classified under DACA who are legally permitted to work in the U.S. are eligible to apply for mortgages backed by the FHA. These changes are effective immediately and apply to new loan […]

Last Week in Review: Yellen for More Stimulus This past week, we watched stocks soar to record highs as Treasury Secretary nominee, Janet Yellen's Senate confirmation began. Ms. Yellen is being embraced by the stock markets because: She is well known, having been Fed Chair for several years. Having been Fed Chair, she knows the […]

Last Week in Review: Rates and Inflation on the Rise The Federal Reserve has been very clear on their communications over the past 18 months. They want to see inflation run hotter before even thinking about raising interest rates. And when we say interest rates, the only interest rates the Fed can control are short-term […]

Overview Effective for all loan submissions on and after February 1, 2021, Carrington Mortgage Services, LLC (CMS) will implement the following underwriting fee schedule. The new CMS Underwriting Fees are below: Loan Product Underwriting Carrington Prime Advantage $750 Carrington Flexible Advantage (CFA/CFA+) $750 Carrington Investor Advantage $750 Conventional $699 FHA $699 VA $699 USDA $699 […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed Monday, January 18, 2021 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 19, 2021. Rate Locks that expire on the holiday will automatically roll to the next business day.  In addition […]