Carrington Mortgage Services this week received Ginnie Mae approval to issue single-family, government guaranteed mortgage-backed securities.
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The Santa Ana, Calif., based lender/servicer has originated nearly 1,000 Federal Housing Administration-insured loans in the past two years.
"This approval expands our capacity as a mortgage originator and servicer, and ultimately allows us to better serve our retail and wholesale customers," said Steve Patton, Carrington's executive vice president for mortgage lending.
The secondary market agency approved CMS to issue Government National Mortgage Association I and GNMA II single-family MBS.
The company is owned by a hedge fund.
