Overview Due to current market conditions, Fannie Mae and Freddie Mac announced that effective September 1, 2020, they will begin charging an additional 50-basis point Loan Level Pricing Adjustment (LLPA) […]
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Latest News Archives
USDA Underwriting Guideline Updates
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Overview In response to a recent USDA audit Carrington Mortgage Services, LLC (CMS) has implemented the following USDA product Underwriting updates and clarifications (highlighted in red). Please note this is […]
Independence Day Holiday Lock Desk Hours
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Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Friday, July 3, 2020 for Independence Day, which is the observed Federal Holiday and also a Company Holiday. […]
Updated Maximum DTI for Credit Qualifying Loan Products
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Overview Effective immediately, the temporary maximum DTI limit of 55% for all credit qualifying products is rescinded. The maximum permitted DTI stated in the product matrices applies. This includes FHA, […]
Updated CMS Lock Policy
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Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce the market conditions that led to temporary suspensions of some lock terms and exception requirements have been resolved and effective […]
Updated CMS Lock Policy
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Overview Effective May 27, 2020 Carrington Mortgage Services, LLC (CMS) will offer a 60-day lock to brokers prior to loan submission when the loan has been registered in BrokerIQ. Loan […]
Updated Lock Policy
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Overview Effective May 27, 2020, the Wholesale lock policy will allow a 60-day lock as soon as the broker or seller have registered the loan in BrokerIQ or CorrIQ. Refer […]
Agency Verbal Verification of Employment Requirements
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Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and we understand there may be concerns about its potential impact to […]
Agency Appraisal Requirements - Updated
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Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability […]
Agency Power of Attorney Requirements
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Overview Carrington Mortgage Services, LLC (CMS) is actively monitoring the spread of COVID-19 (coronavirus) throughout the United States and its potential impact to our borrowers and loan originations. Our ability […]
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2025
. Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: