News

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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Carrington Mortgage Services Extends 25-Day Loan Closing Program

Successful initiative creates influx of loan applications and further expedites closing times

April 17, 2013 - Carrington

Carrington Mortgage Services, LLC (Carrington) today announced plans to extend its retail operation’s 25-Day Loan Closing program, which offers expedited loan closings to borrowers seeking to purchase or refinance properties.

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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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Carrington Mortgage Services Announces 25-Day Loan Closings

Company Cutting Industry-Standard Mortgage Processing Times by Nearly Half

February 05, 2013 - Carrington

Carrington Mortgage Services, LLC (Carrington) today announced a new program offering 25-day loan closings to borrowers looking to purchase or refinance properties. This program, available through Carrington's retail operations, will reduce closing times by nearly fifty percent compared to average industry processing times. Carrington commits to process any qualifying loan from the time that a file is submitted to underwriting to the time that it funds within 25 calendar days, or the company will apply a closing cost credit of $500 to the loan once the loan closes.

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