Retail/wholesale lender Carrington Mortgage Services LLC has begun offering
“Carrington is deeply committed to providing a wide range of products that meet the individual needs of borrowers—and that give the real estate professionals and brokers who serve them the confidence to close transactions,” said Ray Brousseau, executive vice president of Carrington Mortgage Services’s mortgage lending division, in a press release.
The company, which lends in 41 states as well as the District of Columbia and Puerto Rico, also recently expanded its credit requirements on all government products. In addition, it has reduced its minimum FICO score to 580 to make qualifying for loans easier on the borrower, modified its guidelines to include manufactured houses as eligible properties for FHA and VA loan programs, omitted overlays for FHA first-time homebuyer loans, and added nontraditional credit guidelines for FHA borrowers with limited or insufficient credit.
