Carrington Mortgage Services, LLC
Carrington Mortgage Services is the retail loan origination division of Carrington Holding Company, LLC. This company services over $66 billion in mortgages and is licensed to help you find and obtain a loan across 42 states in the United States. Carrington Mortgage strives to get their customers the right loan program and terms for their financial situation. Built on the core values of integrity and transparency, Carrington Mortgage provides unparalleled service. If you don’t believe us, check out Carrington Mortgage reviews from other LendingTree customers.
Working with Josh for the last 7 years has been amazing. It is like having a personal banker who keeps in contact with you. Josh has helped out with several loans for me and my family, he considers everything you want and brings up things you never thought about. He keeps a close eye on the market and ensures you minimize the cost of your investment. I will always work with Josh first.
They are very one sided. They are not willing to help the consumer or whatsoever. DO NOT USE THEIR services, it is awful from their site to their customer service experience, just terrible. I requested a goodwill removal for a late payment that was not even our fault, they refuse, they said they can only do that when they find that they made a mistake, which they are not willing to admit to. HORRIBLE, DO NOT USE THEM IF YOU CAN. We had no intention to, but our BOA loan was sold to them
I started the process of a refinance through Carrington 3 months ago. I submitted all my documentation and finished everything they asked within one day. My loan officer was responsive for the first couple of days and then disappeared for nearly three weeks.
I needed to contact management at the bank just to get a new loan officer and underwriter assigned to my account as both had then disappeared and apparently left the company with no one picking up my loan, so it just sat. By the time we were back to moving forward it had been 4 weeks from the application. At this point they requested all the documentation again as if I was starting from scratch. At this point Corona had started, and everything slowed down. I eventually lost my lock because they took 90 days and still couldn't get this done. They were my loan holder and the refincier so this should have been an open and shut case. I lost what I paid for the appraisal that did not get used, and lost out on working with a bank who was actually responsive.
Carrington keeps blaming this on Corona, however if they had just managed my application from the beginning we would have been finished prior to anything happening in the country.
I checked and have over 70 outgoing emails to them, almost none were responded to, they are unprofessional, non-responsive, irresponsible, and you should avoid them at all costs.
A great rate on paper means nothing if they won't actually close your loan. Look elsewhere
George, was easy to talk with and very knowledgeable about his job. He had patience with me when I didn't comprehend as well as I should have. He is truly a blessing and asset.
NOTE: I did not choose this company, my mortgage was sold to them. I would have NEVER selected this group on my own.
I have several mortgages currently, and many more in the past. The website / user portal is one of the least intutive I have used. Poor layout, incomplete information, terrible user interface. I use their automatic bill pay (which has a number of conditions before you can set up) and tried to INCREASE the amount of my automatic payment. Because of the change, my payment in Jan was skipped. On Feb 6 they called me, on Feb 7 I called back and made payments for both Jan and Feb on the spot. They reported me as delinquent and dropped my credit score by 60 pts. What should have been an easy conversation "I have never missed a payment, I make payments above my required amount every month, I was INCREASING the auto payment ..." etc to get them to remove (or not report) this blemish, turned into several calls, escallations, letter writting, faxing ... and when you go to the advocacy group, and ask what they do, they say escalate, I say where do you escalate, they say no where. So really, really terrible optics, customer relations, etc. WOULD NEVER RECOMMEND this company to anyone. Giving it 2 stars just so it stand alone against a series of 1 star ratings and hopefully gets read by someone.
Focused on the goal of serving the underserved in the mortgage financing market, Carrington Mortgage Services is a California-headquartered lender that got its start in 2007. In 2018, the company originated $4.89 billion worth of mortgage loans.
Carrington Mortgage Services is licensed to originate mortgage loans in Washington, D.C. and the following 48 states:
The company has 20 offices throughout the U.S., and each of the following seven branches has licensed retail loan officers:
Carrington Mortgage Services offers several loan types for borrowers with credit scores as low as 500, and their manual underwriting process for loans other than Fannie or Freddie means that self-employed borrowers looking for bank statement loans can turn to CMS for their mortgage needs. Borrowers can get loans for the following types of properties:
Carrington Mortgage Services features a variety of loan options for those who want to buy or refinance, including:
Carrington Mortgage Service’s goal is to focus on borrowers who have been neglected by much of the lending market. That means offering products and skills that specifically assist middle-income America and consumers with less-than-perfect credit. This goal isn’t just reflected in their product offerings but also in their service flexibility.
How to apply. Borrowers can start an application online, call to apply or can visit one of the seven branches with licensed retail loan officers. After applying, borrowers can give Carrington digital access to certain financial records through Fannie Mae’s Day 1 Certainty. They can also visit their online dashboard to follow the progress of their loan application.
Disclosures, rate locks and appraisals. In addition to seeing an updated loan status on their dashboard, borrowers can also attach and upload documents or receive and sign disclosures all online. For borrowers who prefer more manual processes, faxing and mailing disclosures and forms is also an option. Borrowers can also stay in contact with their loan officer and processor via text, phone and email. After applying, borrowers can often get an instant lock response for most of the loan products Carrington offers. After the borrower has chosen a home and signed disclosures and the intent to proceed, the loan processor will order the appraisal. Borrowers will be sent a link to pay for the appraisal online.
Final approval and closing. When a borrower has chosen a property, they can usually get a conditional approval within days of submitting the application and all necessary documents. Upon final approval, borrowers can select a settlement agent and choose to do the closing at a local office, or using a mobile service at a location of their choosing.
Borrowers primarily communicate with their loan processor throughout the process, but they will also work with a loan officer during the early stages as the application and documents are being processed. The company provides a range of contact options to suit every borrower, including communication with the loan processor and loan officer through email, web portal, text, phone and mail.
Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.