Carrington Mortgage Services in Santa Ana, Calif., said it has helped more than 10,000 consumers, in its campaign to serve underbanked borrowers, originating more than $1.8 billion of loans.
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"Our tailored programs help those who do not have sufficient cash on hand or may feel like their credit score isn't strong enough to fulfill their dream of homeownership," Ray Brousseau, mortgage lending division executive vice president, said in a news release.
Carrington's offerings include a 203k loan program; lower FICO score requirements for FHA, VA and USDA loans; and a loan program with no closing costs or upfront financing fees for borrowers with a credit score below 640.
