March 06, 2015 2:44 AM ET

Thrifts and Mortgage Finance

Company Overview of Carrington Mortgage Services, LLC

Company Overview

Carrington Mortgage Services, LLC provides mortgage loan servicing support services to borrowers and investors in the United States. It also offers home loans through its retail and wholesale channels. The company was founded in 2007 and is based in Santa Ana, California. It has branches in Warrenton, Virginia; Houston and Plano, Texas; Fishers, Indiana; and other parts of the United States. Carrington Mortgage Services, LLC operates as a subsidiary of Carrington Holding Company, LLC.

1610 East Street Andrew Place

Suite B-150

Santa Ana, CA 92705

United States

Founded in 2007

Phone:

949-517-7000

Fax:

949-534-9843

Key Executives for Carrington Mortgage Services, LLC

Chief Executive Officer of Carrington Holding Company
Senior Vice President of Capital Markets
Executive Vice President of Mortgage Lending
Senior Vice President of Wholesale Lending
Executive Vice President
Compensation as of Fiscal Year 2014.

Carrington Mortgage Services, LLC Key Developments

Carrington Mortgage Services Introduces Carrington Loan, with No Closing Costs or Upfront Fees

Carrington Mortgage Services introduced a new simplified home loan process with no closing costs or upfront financing fees. The company claims its new "Carrington Loan" eliminates 100% of loan closing costs for borrowers in the sub-640 FICO score range. This new offering is in keeping with the company's commitment to meet the needs of "underserved" and first-time home buyers." With The Carrington Loan, there is no need to modify the rate after it is presented to the borrower to offset loan costs and loan closing fees, and unexpected increases to estimated closing costs are not an issue. Removing these barriers greatly alleviates the stress on borrowers who desire to fulfill their dream of homeownership. The Carrington Loan is unique in that there are no closing costs, appraisal fees or lender financing fees: Carrington pays all eligible loan costs as lender credits. If any unanticipated lender costs arise, Carrington will issue a credit to cover them. This may include additional title or escrow service charges from the title or settlement company.

Carrington Mortgage Services, LLC Announces to Expand its Operations

Carrington Mortgage Services, LLC announced plans to expand its operations here, creating up to 360 new high-wage jobs by 2019. The Santa Ana which is a subsidiary of Carrington Holding Company, LLC, will invest $3.17 million to renovate and equip a 77,000 square-foot facility in Westfield. The planned facility, which will be operational by the end of this year, will provide growth opportunities for the company's origination and servicing departments.

Carrington Mortgage Opens New Branches in Virginia, Texas and Indiana; Appoints Jeff Scannicchio as Senior Vice President of Mortgage Lending Operations

Carrington Mortgage Services, LLC has announced the opening of four new branches in Warrenton, Virginia; Plano, Texas; Houston, Texas; and Fishers, Indiana. The company appointed Jeff Scannicchio as senior vice president of mortgage lending operations. Newly appointed SVP Jeff Scannicchio will manage national operations for the Mortgage Lending Division and support the organization's objectives in continuing to grow the operation's functional capacity, efficiency and market share. He spent the last seven years with JP Morgan Chase & Company overseeing their US Consumer Direct and Home Equity operations groups, as well as retail channel fulfillment covering the West and South regions of the country.

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