Carrington Mortgage Services LLC (CMS) has announced the launch of its new Delegated Correspondent Lending channel. The launch of Delegated Correspondent Lending will complement Carrington’s Non-Delegated Correspondent Lending channel.
“The depth and breadth of our offering provides our sellers with additional options for their borrowers, resulting in growth for their business,” said Greg Austin, EVP of Mortgage Lending for CMS. “The CMS Operations team, with few exceptions, has worked together for many years; and the level of service provided by this team is nothing less than outstanding. Sellers receive very quick turn times, and have access to all team members.”
According to Michael O’Brien, VP of Correspondent Sales for CMS, the launch of the Delegated Correspondent Lending platform provides CMS with an opportunity to further establish its position in the correspondent lending sector.
“Many lenders want to control the transaction with their borrower,” said O’Brien. “Offering a delegated delivery option allows us to reach more of those lenders. It also gives those lenders access to Carrington’s impressive suite of products.”
CMS’ offerings include conventional Fannie Mae and Freddie Mac products, FHA, VA and USDA products and Carrington’s proprietary Prime Advantage, Flexible Advantage, and Investor Advantage products, developed to assist borrowers with FICO scores down to 550.