Carrington Mortgage Services launched a marketing portal to allow its brokers to close more loans in their respective markets.
From Carrington's online portal, brokers can access, customize, and purchase marketing materials covering several loan types, including FHA, VA, USDA, jumbo, conventional, low down payment, and co-op.
The portal allows Carrington approved brokers to market themselves to new and existing customers because they will access to a variety of loans, regardless of whether or not the Santa Ana, Calif.-based lender offers those products.
"By providing our brokers with access to effective tools to support their customers and grow their respective businesses, Carrington is able to further extends its reach to meet the unique needs of prospective borrowers—particularly those in the underserved markets," said Ray Brousseau, executive vice president of Carrington Mortgage Services' mortgage lending division, in a press release.
Since one in three consumers have a FICO credit score below 650, according to Carrington, it is harder for these people to obtain appropriate financing. Therefore, Carrington recently focused on assisting the underserved segment of the market by lowering its minimum FICO score for government loans to 550.
"Not everyone is positioned to go down the credit spectrum and delve deeper…but if you've got a history of dealing with a client that is less than pristine" it can be done, says Brousseau, who added that his company has the experience to manage the risk.