Articles from Carrington Mortgage Services, LLC

Carrington Mortgage Services, LLC (“Carrington”), one of the nation’s largest and most sophisticated independent mortgage servicers and a leading specialist in Ginnie Mae servicing, and Valon Technologies, Inc. (“Valon”), which has built a world-class AI-native operating system for mortgage servicing, today announced a strategic partnership to advance the next generation of Ginnie Mae servicing technology and strengthen the foundation of the American Dream. Under the agreement, Carrington will adopt ValonOS as its core servicing platform and, in collaboration with a private equity partner, will acquire Valon Mortgage, Inc. (“Valon Mortgage”), expanding Carrington’s servicing portfolio by approximately 800,000 loans.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. In its ongoing effort to help make homeownership simple and as stress-free as possible for customers, CMS’ mortgage lending group recently teamed up with Talk’uments, the first provider of interactive multilingual loan technology for the mortgage industry. The new digital language platform helps bridge the communication gap between borrowers and lenders by displaying essential mortgage disclosures, documents and borrower communications in the customer’s language of choice. This includes the five most common non-English languages spoken in the United States: Spanish, Chinese, Korean, Vietnamese and Tagalog – with more to come.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. As CMS continues to grow, company leadership challenged the CMS Mortgage Lending team to maximize efficiency and scalability by leveraging automation and technology. In its efforts to streamline the loan origination process, Lending identified opportunities to redefine the Encompass workflow and implement advanced automation solutions. During the past 12 months, these innovations have become a fundamental part of the CMS loan process, delivering impressive results. The company’s dedication to transforming loan processes recently was recognized by ICE Mortgage Technology awarding CMS with its 2025 Excellence in Origination Innovation - Automation award.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. As part of its ongoing commitment to serve an important segment of the mortgage market, the CMS correspondent channel is concentrating exclusively on underwriting and purchasing non-qualified mortgage (non-QM) loans.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. As part of its ongoing commitment to serve diverse homeowners, and to provide a needed offering for an often-overlooked homeowner audience, CMS is introducing Section 184 Loans for Native Americans for its retail lending customers.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. As part of its ongoing commitment to expand its non-QM expertise, and provide non-agency loans to homeowners, brokers and sellers, the company recently hired Steven Winokur to serve as VP, Marketing, Third-Party Origination.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. To add to its diverse lending offerings and to better ensure homeowners, brokers and sellers have all the options they need, CMS is introducing Individual Taxpayer Identification Loans (ITIN) for its retail, wholesale and correspondent lending customers.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. To add to its diverse non-QM lending offerings, CMS is introducing a Closed-End Fixed-Rate Second Lien product for its wholesale and correspondent lending customers.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. To further cement its position as a leader in the non-QM lending space, Samuel Bjelac has returned to CMS to lead the third-party origination Lending teams.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. To improve affordability for homebuyers, CMS has expanded its offerings to include 40-year loans and temporary buydowns.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide. In another important addition to its services, CMS is making it easier for customers to take advantage of assumable mortgages, allowing qualified buyers to purchase a home by assuming responsibility for the seller’s loan terms including the current balance, interest rate, remaining term and any additional terms of the mortgage. In today’s high-interest-rate environment, assuming a current mortgage could result in significant interest savings if the mortgage is at a lower interest rate compared to current market interest rates.

For a number of years, Carrington Capital Management, the asset management organization of The Carrington Companies, has diligently pursued the purchase of mortgage servicing rights (MSR) packages. MSR packages refer to a contractual agreement in which the right to service an existing mortgage is sold by the original mortgage lender to another party that specializes in servicing mortgages. At the close of 2010, Carrington Mortgage Services, LLC (CMS) servicing division had just over $14.3 billion in loan balances in its portfolio, representing 71,500 borrowers. As of Dec. 13, 2022, after boarding $62.3 billion in loans from more than 236,000 borrowers as part of recent 2022 MSR purchases, CMS has amassed an impressive $122.1 billion in servicing balances across more than 682,000 customers, nearly doubling the size of its platform.

Carrington Mortgage Services, LLC (Carrington) agreed to settle with the Consumer Financial Protection Bureau (CFPB) to fully resolve the CFPB’s claims relating to consumers who sought forbearances under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Carrington is settling, without admitting or denying the CFPB’s claims, to put this matter behind it and avoid the cost and distraction of prolonged litigation, despite its disagreement with the CFPB’s position. The CARES Act required mortgage servicers to implement complex regulatory requirements during the course of a single weekend, which Carrington did successfully, and throughout the early weeks and months of the pandemic when guidance was scarce and at times inconsistent. Despite its best efforts, where its execution was not perfect, those issues were corrected by Carrington and, in any event, did not result in consumer harm.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services to mortgage brokers nationwide. In another important addition to its services, CMS has introduced ProcessIQ to assist brokers in moving complicated and time-sensitive loans through their pipelines more easily. This new service is unique to the industry, and gives Carrington a distinct competitive advantage over other lenders by offering more complete services to its brokers.

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings available through its loan origination channels, which include Retail, Wholesale and Correspondent lending. In another important addition to its products and services, CMS has launched a Delegated Correspondent Lending channel, which is expected to become an important part of Carrington’s business.