News

Access to credit still biggest hurdle for millennials to enter real estate market

Lower down payments and new programs might help first-time buyers

March 24, 2015 - Inman.com

Check it out: Just published, "Access to credit still biggest hurdle for millennials to enter real estate market" by Ray Brousseau, EVP Mortgage Lending, Carrington Mortgage Services, LLC at Inman.com. This article is part of our ongoing series with Inman.com to provide mortgage content for their realtor audience.

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Can You Get a Mortgage With a Low Credit Score?

Underserved borrower is a focus for Carrington

September 15, 2014 - Fox Business

"There's a huge segment of underserved borrowers today," says Ray Brousseau, executive vice president of the mortgage lending division of Carrington Mortgage Services. "In 2005, 1 out of every 7 loans were approved for borrowers who had a credit score under 630. By 2013, 1 out of every 500 borrowers had a credit score that low."

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David Grosteffon named wholesale divisional sales manager at Carrington

Will focus on "establishing strategic alliances with banks and credit unions"

September 05, 2014 - Housing Wire

he wholesale lending division of Carrington Mortgage Services has appointed David Grosteffon as its divisional sales manager for strategic accounts. In his new position, Carrington said Grosteffon will “manage the company's focus on establishing strategic alliances with leading community banks and credit unions.”

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Carrington Expands Footprint in Central Indiana, Adding 360 New Jobs

Announced plans today to expand its operations here, creating up to 360 new high-wage jobs by 2019.

September 05, 2014 - Economic Development Corporation, Indiana

Carrington Mortgage Services, LLC, a fully-integrated mortgage origination and servicing company, announced plans today to expand its operations here, creating up to 360 new high-wage jobs by 2019. The Santa Ana, California-headquartered company, which is a subsidiary of Carrington Holding Company, LLC, will invest $3.17 million to renovate and equip a 77,000 square-foot facility in Westfield. The planned facility, which will be operational by the end of this year, will provide growth opportunities for the company’s origination and servicing departments. “As a reputable mortgage company, Carrington Mortgage knows the importance of making sound investments,” said Governor Mike Pence. “Home to a balanced budget and triple-A credit rating, Indiana’s business environment is stable and strong. We are excited that Carrington Mortgage recognizes our talented workforce and commitment to keeping taxes low and has chosen Indiana as a fixture in its long-term business plan.”

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Carrington Mortgage Services Opens New Branches and Appoints Experienced Leadership to Accommodate Growth

Branch expansion into new markets and seasoned management appointments ensure growth trajectory and operational excellence.

August 20, 2014 - Market Watch (CBS)

Carrington Mortgage Services, LLC (Carrington) today announced the opening of four new branches in Warrenton, Virginia; Plano, Texas; Houston, Texas; and Fishers, Indiana; along with the appointment of Jeff Scannicchio as Senior Vice President of Mortgage Lending Operations. Carrington's branch expansion initiatives and management appointments provide business development opportunities in each of these regions, while extending a wide range of product offerings and faster turn times to effectively meet market demands – particularly with respect to reaching and serving "underserved" borrowers (typically those in the sub-640 FICO score range). The company's experienced managers named to lead Carrington's new branches include: Jessica Furr in Warrenton; Mike Denton in Plano; Oliver de Boer in Houston; and Ryan Higley in Fishers.

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Carrington joins Gary Sinise to build homes for wounded veterans

Company’s various divisions will contribute to the cause

August 14, 2014 - Housing Wire

The Carrington Companies have partnered with the Gary Sinise Foundation to build smart homes for America’s most severely wounded service members and their families. Carrington will provide donations and operational support for the GSF’s Restoring Independence and Supporting Empowerment program, which assists wounded veterans. As part of its partnership with the Sinise Foundation will be donating the expertise of its real estate development group, Carrington Development Company and real estate services group, Carrington Home Solutions. Sinise, who started his foundation in 2011, is pictured above with Carrington Holding Company CEO Bruce Rose and John Masson, Gary Sinise Foundation Ambassador, wounded veteran, and smart home recipient.

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Carrington Mortgage Services Addresses Achieving Homeownership on Designing Spaces™ on the Lifetime Channel

Leader in "serving the underserved" market discusses how it helps consumers like Derek and Kari Ellerd fulfill the American Dream of owning a home

August 08, 2014 - Yahoo Finance

Carrington Mortgage Services) today announced it will be presented as the featured segment on the hit TV show, Designing Spaces™, airing on the Lifetime® Network on Wednesday, August 13, 2014 at 7:30am ET/PT.

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Branch Opportunity of the Week: Carrington: Marketing & Education

Marketing and Training are the Difference for Loan Officers

August 06, 2014 - MPA Magazine

One of the main advantages of joining a branch network is the marketing and CRM support a big company provides. And Carrington Mortgage Services takes marketing and CRM very seriously, especially now that it’s focusing on providing mortgages to borrowers with lower credit scores.

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Branch Opportunity of the Week: Carrington Mortgage Services

Branch Manager Point of View

August 06, 2014 - MPA Magazine

athy Keller has always had a passion for helping people with less-than-perfect credit find homes. That’s why when the 13-year industry veteran was looking for a new professional home herself, she chose Carrington Mortgage Services. “I came from a place where I had been a lender and a broker,” says Keller, manager of Carrington’s Springfield, Va., branch. “The reason we also brokered was because we couldn’t lend under 640. So when I found out Carrington could do direct lending for credit scores down to 580 at the time – and now we’re down to 550 – it was a no-brainer for me."

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Branch Opportunity of the Week: Carrington Mortgage Services

Ray Brousseau, EVP Mortgage Lending

August 04, 2014 - MPA Magazine

“I like to think that one of the things we have to offer people who’re coming to work at Carrington is a very unique opportunity to participate in any segment of the life cycle of a single-family residential asset,” says Raymond Brousseau, Carrington’s executive vice president of mortgage lending. “We’ve got a legacy of managing credit. That and our specialty servicer put us in a unique position to target borrowers we consider underserved – under the 640 FICO range.”

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Carrington Mortgage Services Hires New National Sales Director

Chad Ruggles Joins Carrington

May 08, 2014 - DS News

Carrington Mortgage Services announced that Chad Ruggles has been hired as National Sales Director. Utilizing Ruggles' experience, Carrington's retail sales operation will focus on growth. Specifically, the company will focus on meeting market demands of the nation's sizable population of "underserved borrowers," which are described by the company as borrowers in the sub-640 range.

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Carrington Mortgage Services taking minimum FICO score down to 550

Carrington estimates that 1 in 3 consumers has a FICO credit score below 650

March 24, 2014 - Inman News

Carrington Mortgage Services LLC wants to boost lending to “underserved” borrowers with FICO scores below 640 — “a sizable market that is largely ignored by today’s lenders,” the company said today in announcing it’s loosening underwriting on FHA, VA and USDA loan programs, extending eligibility to more property types and reducing overlays. Carrington estimates that 1 in 3 consumers has a FICO credit score below 650, and now the company is prepared to OK mortgages to borrowers with FICO scores as low as 550, as long as they meet other requirements.

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Carrington Mortgage Services Shifts its Focus to Concentrate on Meeting the Needs of the Underserved Market

Experience in credit management, underwriting and servicing make Carrington the go-to resource for credit-challenged borrowers – and the mortgage brokers and real estate agents who support them

March 21, 2014 - Carrington Mortgage services

Carrington Mortgage Services, LLC (Carrington) today announced plans to further sharpen its focus on reaching and serving “underserved” borrowers (typically those in the sub-640 FICO score range) – a sizable market that is largely ignored by today’s lenders. To accelerate and further enhance its ability to give this market the attention it deserves, Carrington has lowered its minimum credit requirement to a FICO score of 550, and expanded its guidelines on a number of FHA, VA and USDA loan programs, extending eligibility to more property types and reducing overlays.

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Seeing Recovery Down the FHA Path

Reviving homeownership can help the mortgage industry and the economy

March 04, 2013 - Scotsman Guide

As the American public frets over the financial future of our nation and government officials lay out possible course corrections, it’s time for high-impact industries such as the mortgage business to step up to the plate and try to create some much-needed change. Keeping in mind that the housing market has helped lead the U.S. out of recession on multiple occasions, mortgage professionals should take stock of the tools at hand and evaluate how they can be maximized to drive economic growth.

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Add a Little Zest to Your Pot of Products

What ingredients do you need to become an FHA loan specialist?

February 04, 2013 - Scotsman Guide

In the current economic climate, an increasing number of mortgage bankers are looking into government-backed loans as a way to expand the breadth of their products and increase their market share. Considering the appeal of Federal Housing Administration (FHA) loans among consumers, branching out in this respect certainly may be a recipe for success. From first-time homebuyers to seniors and renovators, loans insured by the U.S. Department of Housing and Urban Development (HUD) give those who need assistance a chance to claim their version of the American dream.

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Carrington Mortgage Services Continues Rapid Growth to Meet Industry Demand for Specialty Servicing; Plans to Add 600 Jobs in 2013

More lenders turn to specialty servicers to ensure efficient management of distressed loans

February 20, 2013 - Carrington

Carrington Mortgage Services, LLC (Carrington) today announced plans to add approximately 600 jobs to meet growing industry demand as traditional lenders rely more heavily on specialty servicers to effectively manage their distressed loan portfolios.

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